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<br />2. Contractor shall have an audit made in accordance with the Single <br />Audit Act of 1984, P.L. 98-502, and OMB Circular No. 128, "Audits of State <br />and Local Governments", 50 Fed. Reg. 19114 (May 6, 1985), for any of its <br />fiscal years included within the contract period specified in Section 2 of <br />this contract in which Contractor receives more than $25,000 in Federal <br />financial assistance. For purposes of this Section 19, "Federal financial <br />assistance" means assistance provided by a Federal agency in the form of <br />grants, contracts, loans, loan guarantees, property, cooperative <br />agreements, interest subsidies, insurance or direct appropriations, but <br />does not include direct federal cash assistance to individuals. The term <br />includes awards of Federal financial assistance received directly from <br />Federal agencies, or indirectly through other units of State and local <br />government; <br /> <br />3. Notwithstanding Section 4 (a)(5) and Section 4 (a)(6), Contractor <br />shall utilize funds budgeted under this contract to pay for that portion <br />of the cost of such audit services properly allocable to the activities <br />funded by Department under this contract, provided however that Department <br />shall not make payment for the cost of such audit services until <br />Department has received such audit report from Contractor; and <br /> <br />4. Unless otherwise specifically authorized by Department in writing, <br />Contractor shall submit the report of such audit to Department within <br />thirty (30) days after the completion of the audit, but no later than one <br />year after the end of the audit period. Audits performed under Subsection <br />A of this Section 19 are subject to review and resolution by Department or <br />its authorized representative. <br /> <br />B. Notwithstanding Subsection A of this Section 19, Department reserves the <br />right to conduct an annual financial and compliance audit of funds received <br />and performances rendered under this contract. Contractor agrees to permit <br />Department or its authorized representative to audit Contractor's records and <br />to obtain any documents, materials, or information necessary to facilitate <br />such audit. <br /> <br />C. Contractor understands and agrees that it shall be liable to Department <br />for any costs disallowed pursuant to financial and compliance audit(s) of <br />funds received under this contract. Contractor further understands and agrees <br />that reimbursement to Department of such disallowed costs shall be paid by <br />Contractor from funds which were not provided or otherwise made available to <br />Contractor under this contract. <br /> <br />D. Contractor shall take such action to facilitate the performance of such <br />audit or audits conducted pursuant to this Section 19 as Department may <br />require of Contractor. <br /> <br />Page 10 of 14 <br />