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Agreement No.HS-21-0087,04-02
<br /> (b) Financial Statement Audit. If,during its fiscal year, Grantee expends less than$750,000 in Federal
<br /> Awards,Grantee is subject to the following audit requirements:
<br /> (i) If,during its fiscal year, Grantee expends$500,000 or more in Federal and State Awards,
<br /> singularly or in any combination,from all sources, Grantee must have a financial statement audit conducted in
<br /> accordance with the Generally Accepted Government Auditing Standards(GAGAS). Grantee may be subject
<br /> to additional requirements in PART TWO, PART THREE or Exhibit G based on the Grantee's risk profile.
<br /> (ii) If,during its fiscal year,Grantee expends less than$500,000 in Federal and State Awards,
<br /> singularly or in any combination,from all sources, but expends$300,000 or more in Federal and State
<br /> Awards, singularly or in any combination from all sources, Grantee must have a financial statement audit
<br /> conducted in accordance with the Generally Accepted Auditing Standards(GARS).
<br /> (iii) If Grantee is a Local Education Agency(as defined in 34 CFR 77.1),Grantee shall have a
<br /> financial statement audit conducted in accordance with GAGAS,as required by 23 Ill.Admin.Code 100.110,
<br /> regardless of the dollar amount of expenditures of Federal and State Awards.
<br /> (iv) If Grantee does not meet the requirements in subsections 15.2(b)and 15.2(c)(i-iii)but is required
<br /> to have a financial statement audit conducted based on other regulatory requirements,Grantee must submit
<br /> those audits for review.
<br /> (v) Grantee must submit its financial statement audit report packet,as set forth in 44 III.Admin.
<br /> Code 7000.90(h)(2)and the current GATA audit manual,to the Grantee Portal within the earlier of(i)30
<br /> calendar days after receipt of the auditor's report(s)or(ii)6 months after the end of the Grantee's audit period.
<br /> 15.4 Performance of Audits. For those organizations required to submit an independent audit report,the audit
<br /> is to be conducted by the Illinois Auditor General,or a Certified Public Accountant or Certified Public Accounting Firm
<br /> licensed in the state of Illinois or in accordance with Section 5.2 of the Illinois Public Accounting Act(225 ILCS
<br /> 450/5.2). For all audits required to be performed subject to Generally Accepted Government Auditing standards or
<br /> Generally Accepted Auditing standards, Grantee shall request and maintain on file a copy of the auditor's most recent
<br /> peer review report and acceptance letter. Grantee shall follow procedures prescribed by Grantor for the preparation
<br /> and submission of audit reports and any related documents.
<br /> 15.5 Delinquent Reports. Notwithstanding anything herein to the contrary,when such reports or statements
<br /> required under this section are prepared by the Illinois Auditor General, if they are not available by the above-
<br /> specified due date,they will be provided to Grantor within thirty(30)days of becoming available.Otherwise, Grantee
<br /> should refer to the State of Illinois Grantee Compliance Enforcement System for the policy and consequences for late
<br /> reporting.44 III.Admin.Code 7000.80.
<br /> ARTICLE XVI
<br /> TERMINATION; SUSPENSION; NON-COMPLIANCE
<br /> 16.1 Termination.
<br /> (a) This Agreement may be terminated, in whole or in part, by either Party for any or no reason upon thirty
<br /> (30)calendar days'prior written notice to the other Party. If terminated by the Grantee, Grantee must include the
<br /> reasons for such termination,the effective date,and, in the case of a partial termination,the portion to be terminated.
<br /> If Grantor determines in the case of a partial termination that the reduced or modified portion of the Award will not
<br /> accomplish the purposes for which the Award was made, Grantor may terminate the Agreement in its entirety. 2
<br /> CFR 200.339(a)(4).
<br /> (b) This Agreement may be terminated, in whole or in part, by Grantor without advance notice:
<br /> (i) Pursuant to a funding failure under Paragraph 4.1;
<br /> (ii) If Grantee fails to comply with the terms and conditions of this or any Award,application or
<br /> proposal, including any applicable rules or regulations,or has made a false representation in connection with
<br /> the receipt of this or any Grant;
<br /> (iii) For cause,which may render the Grantee ineligible for consideration for future grants from the
<br /> Grantor or other State agencies;or
<br /> State of Illinois
<br /> INTERGOVERNMENTAL GRANT AGREEMENT(U-IGA)FISCAL YEAR 2021/2 5 20
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