2018-139 OPT - NCDOT 2018 grant contract

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financial assistance inen amount ofatleast thousand ($25'U0O)or gneotnr,but|easthenfivehundreUtAouoanddoUare($500.0OO) vvithinitafisoa| year. * Level III —A recipient oroubracipientthat receives, hnNs, uses, or expends State financial assistance in an amount equal to or greater than five hundred thousand dollars /$G00.OUO\ within its fiscal year. (2) Department-established reporting requirements for non-governmental Grantees shall meet the following reporting standards onon annual basis: 1 All recipients nroubnanipientn ahn|| provide a certification that State financial assistance received or held was used for the purposes for which it was awarded. 2 All recipients or subreoip|enta ohe|| provide an accounting of all State financial assistance received, held, used, Vrexpended. 3 Level 11 and III recipients or subrecipients shall report on activities and accomplishments undertaken by the recipient' including reporting on any performance measures established in the contract. 4 Level ||| recipients oraubreoipiento shall have o single or program-specific audit prepared and completed in accordance with Generally Accepted Government Auditing Standards, also known ao 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 nf 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 make available and require its SubGronteestn make available audit work papers in the possession of any auditor to the Department or other federal or state agencies as requested. (G) Department-established reporting requirements to meet the standards set forth in Paragraph (1) of this Rule shall be specified in each Grantee's contract. (7) Unless prohibited by |evv' the costs of audits made in accordance with the provisions of this Rule shall be a||nvvab|e charges to State and Federal awards. The charges may be considered a direct cost or an 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 a period of five (5) years from the date of final payment to the Grantee, or until all audit exceptions have been resolved, whichever is longer, in accordance with "Records Retention and Disposition Schedule — Public Transportation Syatmnoa and Authorities, April 1. 2006." at: . d. Access to Records of Grantee and SubGrantees. The Grantee shall permit and nhoU require its third party contractors to permit the Department, the Comptroller General of the United Gtatea, and the Secretary of the United States Department of Transportation, or their authorized napnasenteUvos, to inspect all work, materials, pnyro||s, and other data and records with regard to the Project, and to audit the books, records, and accounts of the Grantee pertaining tn 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 coot. The Department shall notify the Grantee, in vvriting, if materials end/or workmanship are found tobeunacceptable. The Grantee shall have ninety (9O) days from notification to correct defects nrto provide acceptable materials and/or workmanship. Failure by the Grantee to provide acceptable materials and/or vvorknnenohip, or to correct noted defects, aho|| constitute a breach of contract. 05/27/2015 Page |l of 36