Post assistance requirements...
Reports
Both fiscal and program reports are required annually and are due 90 days after the close of the grant year.
Note:
This section indicates whether program reports, expenditure reports, cash reports or performance monitoring are required by the Federal funding agency, and specifies at what time intervals (monthly, annually, etc.) this must be accomplished.
Audits
In accordance with the provisions of OMB Circular No. A- 133, "Audits of State, local governments, and non-profit organizations" State and local governments that expend more than $500,000 in Federal awards within the State's fiscal year shall have an audit made in accordance with OMB Circular No. A-133, or in accordance with Federal laws and regulations governing the programs in which they participate. Other audits are conducted in accordance with the requirements of 45 CFR Part 92.
Note:
This section discusses audits required by the Federal agency.
The procedures and requirements for State and local governments and nonprofit entities are set forth in OMB Circular No. A-133.
These requirements pertain to awards made within the respective State's fiscal year - not the Federal fiscal year,
as some State and local governments may use the calendar year or other variation of time span designated as the fiscal year period,
rather than that commonly known as the Federal fiscal year (from October 1st through September 30th).
Records
Records must be retained at least 3 years. Records shall be retained beyond the 3-year period if audit findings have not been resolved.
Note:
This section indicates the record retention requirements and the type of records the Federal agency may require.
Not included are the normally imposed requirements of the General Accounting Office.
For programs falling under the purview of OMB Circular No. A-102, record retention is set forth in Attachment C.
For other programs, record retention is governed by the funding agency's requirements.