2022-228-E-County Mgr-North State Communications Advanced Services-Broadband Initiative

Browse Search

4 f. Audited Financial Statements. In any fiscal year in which Subrecipient expends $750,000 or more in federal awards during such fiscal year, including awards received as a subrecipient, the Subrecipient must comply with the federal audit requirements contained in the Uniform Guidance, 2 CFR Part 200, including the preparation of an audit by an independent Certified Public Accountant in accordance with the 31 U.S.C. §§ 7501 et seq., and with Generally Accepted Accounting Principles. If the Subrecipient expends less than $750,000 in federal awards in any fiscal year, it is exempt from federal audit requirements, but its records must be available for review by the County and appropriate officials of the Federal Government, and it must still have a financial audit performed for that year by an independent Certified Public Accountant. The Subrecipient shall provide the County with a copy of Subrecipient’s most recent audited financial statements, federal Single Audit report, if applicable (including financial statements, schedule of expenditures of federal awards, schedule of findings and questioned costs, summary of prior audit findings, and corrective action plan, if applicable), and management letter within thirty (30) days after execution of this Agreement and thereafter within nine (9) months following the end of the Subrecipient’s most recently ended fiscal year. g. Program Income. The Subrecipient shall track and maintain monthly reports describing all program income, as defined in 2 CFR 200.80, generated by activities carried out with ARPA Funds made available under this Agreement. The use of program income by the Subrecipient shall comply with requirements set forth in 2 CFR 200.307 and other applicable requirements, including those currently in effect and that may be promulgated by Authorities during the term. Subrecipient acknowledges that program income obligations may require Subrecipient to allocate program income to Project-related purposes. Subrecipient, and not the County, shall be entirely responsible for the use of program income generated by Subrecipient. Notwithstanding the preceding, Subrecipient and County acknowledge that fees collected for broadband service should be exempt or otherwise excluded from program income and will abide by any future Treasury guidance to that position. h. Subrecipient agrees that acceptance of final payment from the County will constitute an agreement by Subrecipient to release and forever discharge the County, its agents, employees, representatives, affiliates, successors and assigns from any and all claims, demands, damages, liabilities, actions, causes of action or suits of any nature whatsoever, which Subrecipient has at the time of acceptance of final payment or may thereafter have, arising out of or in any way relating to any a nd all injuries and damages of any kind as a result of or in any way relating to this Agreement. The Subrecipient’s obligations to the County under this Agreement shall not terminate until all closeout requirements are completed to the satisfaction of the County. Such requirements shall include submitting final reports to the County and providing any closeout-related information requested by the County by the deadlines specified by the County. This provision shall survive the expiration or termination of this Agreement. 7. Subrecipient Responsibilities: Compliance with Grant Agreement and Applicable Laws a. In General. Subrecipient shall perform all activities funded by this Agreement in accordance with the Contract Documents, the award agreement between the County and the Department of Treasury, and all applicable federal, state and local DocuSign Envelope ID: 32FCA70F-8C9D-4D85-A0BE-B88413353B8B