Res 1989-023 - Laserfiche WebLink

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1. Contractor shall have an audit made in accordance with the Single Audit Act of 1984, P.L. 98-502, and OMB Circular No. 128, "Audits of State and Local Governments", 50 Fed. Reg. 19114 (May 6, 1985), for any of its fiscal years included within the contract period specified in Section 2 of this contract in which Contractor receives more than $25,000 or more in Federal financial assistance. For purposes of this Section 19, "Federal financial assistance" means assistance provided by a Federal agency in the form of grants, contracts, loans, loan guarantees, property, cooperative agreements, interest subsidies, insurance or direct appropriations, but does not include direct federal cash assistance to individuals. The term includes awards of Federal financial assistance received directly from Federal agencies, or indirectly through other units of State and local government; 2. At the option of Contractor, each audit required by this section may cover either Contractor's entire operations or each department, agency, or establishment of Contractor which received, expended, or otherwise administered federal funds. 3. Nothwithstanding Section 4 (a){5) and Section 4 (a}(6), Contractor shall utilize funds budgeted under this contract to pay for that portion of the cost of such audit services properly allocable to the activities funded by Department under this contract, provided however that Department shall not make payment for the cost of such audit services until Department has received such audit report from Contractor; and, 4. Unless otherwise specifically authorized by Department in writing, Contractor shall submit the report of such audit to Department no later than one hundred twenty (120) days after the date of termination of this contract. Audits performed under Subsection A of this Section 19 are subject to review and resolution by Department or its authorized representative. B. Notwithstanding Subsection A of this Section 19, Department reserves the right to conduct an annual financial and compliance audit of funds received and performances rendered under this contract. Contractor agrees to permit Department or its authorized representative to audit Contractor's records and to obtain any documents, materials, or information necessary to facilitate such audi t. C. Contractor understands and agrees that it shall be liable to Department for any costs disallowed pursuant to financial and compliance audit(s) of funds received under this contract. Contractor further understands and agrees that reimbursement to Department of such disallowed costs shall be paid by Contractor from funds which were not provided or otherwise made available to Contractor under this contract. D. Contractor shall take such action to facilitate the performance of such audit or audits conducted pursuant to this Section 19 as Department may require of Contractor. Page 10 of 14 Pages