R2023-113 Resolution Authorizing an Intergovernmental Agreement with the State of Illinois for Electric Vehicle (EV) Planning

Home Browse Search

DocuSign Envelope ID: 3068A826-D9DD-44A9-A383-16200B061238 Agreement No.23-1439-39187 (ii) If,during its fiscal year,Grantee expends less than$500,000 in State Grants, but expends $300,000 or more in State Grants, Grantee must have a financial statement audit conducted in accordance with the Generally Accepted Auditing Standards (GAAS). (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 State Grants. (iv) If Grantee does not meet the requirements in subsections 15.3(b)and 15.3(c)(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 "For-Profit"Entities. (a) This paragraph applies to Grantees that are"for-profit"entities. (b) Program-Specific Audits. If, during its fiscal year, Grantee expends$750,000 or more in federal pass- through funds from State Grants, Grantee is required to have a program-specific audit conducted in accordance with 2 CFR 200.507. The auditor must audit federal pass-through programs with federal pass-through Awards expended that, in the aggregate, cover at least 50 percent(0.50)of total federal pass-through Awards expended. The audit report packet must be completed as described in 2 CFR 200.507 (program-specific audit),44 III. Admin. Code 7000.90 and the current GATA audit manual, and must be submitted to the Grantee Portal. The due date of all required submissions set forth in this Paragraph is the earlier of(i) 30 calendar days after receipt of the auditor's report(s)or(ii) nine (9) months after the end of the Grantee's audit period. (c) Financial Statement Audit. If, during its fiscal year, Grantee expends less than $750,000 in federal pass- through funds from State Grants, Grantee must follow all of the audit requirements in Paragraphs 15.3(c)(i)-(v), above. (d) Publicly-Traded Entities. If Grantee is a publicly-traded company, Grantee is not subject to the single audit or program-specific audit requirements, but is required to submit its annual audit conducted in accordance with its regulatory requirements. 15.5 Performance of Audits. For those organizations required to submit an independent audit report,the audit is to be conducted by the Illinois Auditor General (as required for certain governmental entities only), or a Certified Public Accountant or Certified Public Accounting Firm licensed in the State of Illinois or accordance with Section 5.2 of the Illinois Public Accounting Act(225 ILCS 450/5.2). For 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. 15.6 Delinquent Reports. When such audit reports or financial statements required under this ARTICLE 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. 44 III. 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 200.340(a)(4). State of Illinois GRANT AGREEMENT FISCAL YEAR 2023/1 18 22 Page 16 of 41