2017-574 OPT - FY2018 NCDOT application for Section 5339 Public Transportation Grant

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financial assistance inon amount less than twenty-five thousand dollars ($25,000) within its fiscal year. » Level 11 —A recipient ornubrecohentthat reoeives, ho|da, uses, or expends State financial assistance in an amount of at least twenty-five thousand ($25,000) or greater, but less than five hundred thousand dollars ($500,000) within its fiscal year. " Level III —A recipient oroubrecipien1 that receives, holds, uses, orexpends State financial assistance inon amount equal tonr greater than five hundred thousand dollars ($50O,000) within its fiscal year, C2> Department-established reporting requirements for non-governmental Grantees shall meet the following reporting standards onan annual basis: 1 All recipients orsubneoipiento ahe|| provide a certification that State financial assistance received or held was used for the purposes for which it was awarded. 2 All recipients or nubreoipients shall provide an accounting of all State financial assistance received, held, used, or expended. 3 Level || and ||| recipients orsubreoipientashall report on activities and accomplishments undertaken by the recipient, including reporting on any performance measures established )n the contract. 4 Level ||| recipients oraubrecipiente aho|| have o single or program-specific audit prepared and completed in accordance with Generally Accepted Government Auditing Standards, also known oe the Yellow Book. (3) All reports shall be filed with the disbursing agency in the format and method specified by the Department no later than three months after the end of the Grantee's fiscal year, unless the same information,is already required through more frequent reporting. Audits must be provided to the Department no later than nine months after the end of the recipient's fiscal year. (4) The Grantee shall use the Office of State Budget and Management reporting forms found under "NC Grants Annual Reporting Forms" on the Department's website: /G\ The Grantee agrees to make available and require its GubGranteootomake available audit work papers in the possession of any auditor to the Department or other federal or state agencies oerequested. (0) Department-established reporting requirements to meet the standards set forth in Paragraph (1) of this Rule shall he specified in each Grantee's contract. (7) Unless prohibited by law, the costs of audits made in accordance with the provisions of this Rule shall bo allowable charges to State and Federal awards. The charges may be considered a direct cost oraO allocated indirect cost, as determined in accordance with cost principles outlined in'the Code of Federal Regulations, 2 C.F.R. Part 200. The cost of any audit not conducted in accordance with this Subchapter shall not be charged to State awards. C. Record Retention. The Grantee and its third party Grantees shall retain all records pertaining to this Project for e period of five (5) years from the date of final payment to the Grnntee, or until all audit exceptions have been resolved, whichever is longer, in accordance with "Records Retention and Disposition Schedule — Public Transportation 8yatanna and Authorities, April 1. 2006," at: . d. Access to Records of Grantee and SubGrantees. The Grantee shall permit and shall require its third podv contractors to permit the Department, the Comptroller General of the United Stahao, and the Secretary of the United States Department of TrenopndnUon, or their authorized repnmsentaUves, to inspect all work, materials, payro||a, and other data and records with nagonj to the Project, and to audit the books, records, and accounts of the Grantee pertaining to the Project. The Department shall reserve the right to reject any and all materials and workmanship for defects and incompatibility with Project Description or excessive cost. The Department shall notify the Grantee, in writing, if materials and/or workmanship are found tobeunacceptable. The Grantee shall have ninety (QU) days from notification to 05/27/2015 Page H of 36