R2021-02 Resolution Authorizing Accepting and Approval of Grant Agreement with Illinois Department of Commerce and Economic Opportunity (DCEO)

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Agreement No 20-488039 (ii) If,during its fiscal year,Grantee expends less than$500,000 in Federal and state Awards,singularly or in any combination,from all sources,but expends$300,000 or more in Federal and state Awards,singularly or in any combination,from all sources,Grantee must have a financial statement audit conducted in accordance with the Generally Accepted Auditing Standards(GARS). (iii) If Grantee is a Local Education Agency(as defined in 34 CFR 77.1),Grantee shall have a financial statement audit conducted in accordance with GAGAS,as required by 23 III. Admin.Code 100.110,regardless of the dollar amount of expenditures of Federal and state Awards. (iv) If Grantee does not meet the requirements in subsections 15.3(a)and 15.3(b)(i- iii)but is required to have a financial statement audit conducted based on other regulatory requirements,Grantee must submit those audits for review. (v) Grantee must submit its financial statement audit report packet,as set forth in 44 III.Admin.Code 7000.90(h)(2)and the current GATA audit manual,to the Grantee Portal within the earlier of(i)30 calendar days after receipt of the auditor's report(s)or(ii)6 months after the end of the Grantee's audit period. 15.4. Performance of Audits. For those organizations required to submit an independent audit report, the audit is to be conducted by the Illinois Auditor General,or a Certified Public Accountant or Certified Public Accounting Firm licensed in the state of Illinois or in accordance with Section 5.2 of the Illinois Public Accounting Act(225 ILCS 450/5.2). For all audits required to be performed subject to Generally Accepted Government Auditing standards or Generally Accepted Auditing standards,Grantee shall request and maintain on file a copy of the auditor's most recent peer review report and acceptance letter. Grantee shall follow procedures prescribed by Grantor for the preparation and submission of audit reports and any related documents. 15.5. Delinquent Reports. Notwithstanding anything herein to the contrary,when such reports or statements required under this section are prepared by the Illinois Auditor General,if they are not available by the above-specified due date,they will be provided to Grantor within thirty(30)days of becoming available. Otherwise,Grantee should refer to the State of Illinois Grantee Compliance Enforcement System for the policy and consequences for late reporting.44111.Admin.Code 7000.80. ARTICLE XVI TERMINATION;SUSPENSION;NON-COMPLIANCE 16.1. Termination. (a) This Agreement may be terminated,in whole or in part, by either Party for any or no reason upon thirty(30)calendar days'prior written notice to the other Party. If terminated by the Grantee,Grantee must include the reasons for such termination,the effective date,and,in the case of a partial termination,the portion to be terminated. If Grantor determines in the case of a partial termination that the reduced or modified portion of the Award will not accomplish the purposes for which the Award was made,Grantor may terminate the Agreement in its entirety. 2 CFR 200.339(a)(4). (b) This Agreement may be terminated,in whole or in part,by Grantor without advance notice: (i) Pursuant to a funding failure under Paragraph 4.1; State of Illinois INTER-GOVERNMENTAL GRANT AGREEMENT FISCAL YEAR 2021/2 2 20 Page 18 of 49