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13 <br /> Section 2: Audit <br /> A. The Subaward is funded with federal funds and as such any requirements applicable to recipients <br /> of federal funds will be required of Subrecipient. Note: 2 CFR Part 200.110 states, in part, that 2 <br /> CFR Part 200 supersedes the following OMB Guidance documents and regulations under Title 2 <br /> of the Code of Federal Regulations: A-87 (Cost Principles for State, Local and Indian Tribal <br /> Governments), A-102 (Grants and Cooperative Agreements with State and Local Governments), <br /> A-110 (Uniform Administrative Requirements for Grants and Agreements with Institutions of <br /> Higher Education, Hospitals and Other Non-Profits), A-122 (Cost Principals for Non-Profit <br /> Organizations), and A-133 (Audits of States, Local Governments and Non-Profit Organizations). <br /> The Subrecipient is required to review and comply with 2 CFR Part 200 requirements related to <br /> units of local government or non-profit organizations, as may be applicable, that were previously <br /> found in the OMB Circulars. <br /> i. <br /> Subrecipient must permit the Agency's auditors to have access to the Subrecipient's records <br /> and financial statements as necessary,in the discretion of the Agency,to meet the requirements <br /> of 2 CFR §§200.300 Statutory and national policy requirements through 200.309 Period of <br /> performance, and 2 CFR 200 Subpart F—Audit Requirements. <br /> ii. The Subrecipient will comply with 2 CFR Subpart F—Audit Requirements,as may be amended <br /> from time to time,which states,in part: <br /> a. A Subrecipient that expends $750,000 or more in federal awards during its fiscal year <br /> from any source, including federal funds passed through the State or other grantors, <br /> must obtain a single audit or program-specific audit conducted for that year in <br /> accordance with 2 CFR 200 Subpart F-Audit Requirements. (§200.501 (a)) <br /> b. A Subrecipient that expends $750,000 or more during its fiscal year in Federal awards <br /> must have a single audit conducted in accordance with 2 CFR 200.514 Scope of audit <br /> expect when it elects to have a program-specific audit conducted in accordance with <br /> paragraph(c)of this section. (2 CFR§200.501 (b)) f'€' <br /> c. An auditee that expends Federal awards under only one Federal program (excluding <br /> R&D) and the Federal program's statutes, regulations, or the terms and conditions of <br /> the Federal award do not require a financial statement audit of the auditee,the auditee <br /> may elect to have a program-specific audit conducted in accordance with 2 CFR <br /> §200.507 Program-specific audits. (2 CFR§200.501(c)) <br /> d. A Subrecipient that expends less than$750,000 during its fiscal year in Federal awards <br /> is exempt from Federal Audit requirements for that year, except as noted in 2 CFR <br /> §200.503 Relation to other audit requirements,but records must be available for review <br /> or audit by appropriate officials of the Federal Agency, Pass Through Entity, and <br /> Government Accountability Office. (2 CFR 200.501(d)). <br /> Section 3: Reports <br /> (a) The Member shall submit to the Agency Unit Completion Reports in accordance with PG 3.10.2 <br /> (b) The Member shall submit a Certification of Completion and Final Cost form to the Agency not later <br /> than June 30, 2020. <br /> (c) The final certification shall contain a summary of the use of funds provided under this Agreement. <br /> Page 8 of 16 <br />