2017-575 OPT - FY2018 NCDOT application for Section 5310 Public Transportation Grant

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M> |n accordance with 2C.F.R. Part 2OO.5O0 Subpart F—Audit Requirements (Formerly (]MH Circular A-133), N.{|.G.S. 143C'6' "NoO-5tate Entities Receiving State Funda". and Title 9 North Carolina Administrative Code (N.C.A.C] Subchapter 3M (09 NCAC . Non-Governmental Grantees shall comply with all rules and reporting requirements established by statute or administrative [V|eo. Financial reporting and audit requirements are based on the level of State financial assistance from all funding sources. The three /3\ reporting levels are: ° Level I — A recipient or subrecipient that receives, holds, uses, or expends State financial assistance in an amount less than twenty-five thousand dollars ($25'000) within its fiscal year. � Level 11 —A recipient oraubnao|pient that receives, holds, uses, or expends State financial assistance inan amount ofmt least twenty-five thousand ($25,OO[) o[ ` greater, but less than five hundred thousand dollars ($500,000) within its fiscal � Level III —A recipient orsUbnacipinnt that receives, holds, uses, V[expends State financial assistance in an amount equal to or greater than five hundred thousand dollars /$5OO.00O\ within its fiscal year. (2) Department-established reporting requirements for non-governmental Grantees shall meet the following reporting standards oOan annual basis: 1 All recipients orsubrenipients shall provide a certification that State financial assistance received or held was used for the purposes for which it was awarded. 2 All recipients oraubrecipieRta shall provide an accounting of all State financial assistance received, held, used, orexpended. 3 Level || and III recipients oreuUreoip|ents shall report oO activities and accomplishments undertaken by the recipient, including reporting on any performance measures established in the contract. 4 Love] ||| recipients nruub[ecipients shall have o single or program-specific audit prepared and completed in accordance with Generally Accepted Government Auditing Standards, also known ms the Yellow Book, (3) AUrepo�oshall be�/edvvi1h the disbursing agency in the format and nOethod 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: /5\ The Grantee agrees to 0ekm avail able and naqu|na its 6uUGnnnteeatn make available audit work papers in the possession of any auditor to the Department or other federal or state agencies eorequested. '(0) Department-established reporting requirements to meet the standards set forth in Paragraph (i) of this Rule shall be specified in e�oh Grantee's contract. vv (7) Unless prohibited by|a. the costs ofaudits nnod�in accordance with the provisions of this Rule shall be allowable charges to State and Federal awards. The charges may be considered a direct cost oran allocated indirect cost, aa 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 foreperiodnffive/5\yeersfroonthedsdeoffinoipmyrneOttqtheBrantme.orUOU|aU audit exceptions have been resolved, whichever is longer, in accordance with "Records Retention and Disposition Schedule — Public Transportation Systems and Authorities, April 1' 2006." at: 05/27/2015 Page II u[37