Post assistance requirements...
Progress reports are required for each budget period, and a final report is due 90 days following the end of the project period. Financial Status Reports are due at the end of each budget period, and a final Financial Status Report is due 90 days following the end of the project period.
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.
In accordance with the provisions of OMB Circular No. A-133 "Audits of States, Local Governments, and Non-Profit Organizations, nonfederal entities that expend financial assistance of $500,000 or more in Federal Awards will have a single or a program specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt as noted in Circular No. A-133. In addition, grants and cooperative agreements are subject to inspection and audits by DHHS and other Federal government officials.
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).
Financial records, supporting documents, statistical records, and all other records pertinent to a grant shall be retained for a minimum of 3 years, or longer pending completion and resolution of any audit findings.
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.