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Docusign Envelope ID : 58385E6A-CCB24965-9AFB-3OE53E96EFOE <br /> General Terms and Conditions <br /> DEFINITIONS <br /> Unless indicated otherwise from the context, the following terms shall have the following meanings in this Contract . <br /> All definitions are from 9 NCAC 3M . 0102 unless otherwise noted . If the rule or statute that is the source of the <br /> definition is changed by the adopting authority, the change shall be incorporated herein : <br /> " Agency " means the North Carolina Arts Council . <br /> " Audit " means an examination of records or financial accounts to verify their accuracy . <br /> " Certification of Compliance " means a report provided by the Agency to the Office of the State Auditor that states <br /> that the Grantee has met the reporting requirements established by this Subchapter and included a statement of <br /> certification by the Agency and copies of the submitted grantee reporting package . <br /> " Compliance Supplement" refers to the North Carolina State Compliance Supplement, maintained by the State and <br /> Local Government Finance Agency within the North Carolina Department of State Treasurer that has been <br /> developed in cooperation with agencies to assist the local auditor in identifying program compliance requirements <br /> and audit procedures for testing those requirements . <br /> " Contract " means a legal instrument that is used to reflect a relationship between the agency, grantee , and <br /> subgrantee . <br /> " Financial Assistance " means assistance that non -State entities receive or administer in the form of grants, loans, <br /> loan guarantees, property ( including donated surplus property) , cooperative agreements, interest subsidies, <br /> insurance, food commodities, direct appropriations, and other assistance . Financial assistance does not include <br /> amounts received as reimbursement for services rendered to individuals for Medicare and Medicaid patient <br /> services . <br /> " Financial Statement " means a report providing financial statistics relative to a given part of an organization ' s <br /> operations or status . <br /> " Fiscal Year " means the annual operating year of the non -State entity . <br /> " Grant " means financial assistance provided by a State agency to an eligible grantee to carry out activities identified <br /> in the Contract agreement . <br /> " Grantee " means an entity that receives State funds as a grant from a State agency . <br /> " Grantor" means an entity that provides resources, generally financial , to another entity in order to achieve a <br /> specified goal or objective . <br /> " Non -State Entity " has the meaning in G . S . 143 - C- 1 - 1 ( d ) ( 18 ) . <br /> " Public Authority" has the meaning in G . S . 159 - 7 ( 10 ) . <br /> " Single Audit " means an audit that includes an examination of an organization ' s financial statements, internal <br /> controls, and compliance with the requirements of Federal or State awards . <br /> DS <br /> Rev . 07/2024 Governmental 1 of 8 <br />