R2014-57 AUTHORIZING EXECUTION & AMENDMENT OF FY-2015 TRANSIT OPERATING ASSISTANCE GRANT AGREEMENT

Home Browse Search

ITEM 9 - INSPECTION AND AUDIT Grantee shall permit, and shall require its contractors and auditors to permit, the Department, and any authorized agent of the Department, to inspect all work, materials, payrolls, audit working papers, and other data and records pertaining to the Project; and to audit the books, records, and accounts of the Grantee with regard to the Project. The Department may, at its sole discretion and at its own expense, perform a final audit of the Project. Such audit may be used for settlement of the grant and Project closeout. Grantee agrees to implement any audit findings contained in the Department's final audit, the Grantee's independent audit, or as a result of any duly authorized inspection or review. Grantee agrees to permit the Department to conduct scheduled or unscheduled inspections of Grantee's public transportation services. Such inspections shall be conducted at reasonable times, without unreasonable disruption or interference with any transportation service or other business activity of the Grantee or any Service Board. Grantee agrees to notify the Department of any pending federal triennial review as soon as it is scheduled and to permit the Department to attend same. ITEM 10 - GRANTEE'S INDEPENDENT AUDIT Grantee shall select an independent licensed Certified Public Accountant to perform an audit pursuant to the requirements of III. Admin. Code tit. 92, § 653.410. The standards for selection of the auditor and the scope and contents of the audit are contained in III. Admin. Code tit. 92, § 653.410; Grantee and its auditor shall become familiar with the Rules and adhere to its provisions in completion of the audit. The audit shall also be completed in conformity with the Single Audit Act (31 USC 7501 et seq.), and shall include a statement, if applicable, that any allocation of revenues and expenses to the program of approved expenditures funded under this Agreement is in accordance with a cost allocation plan approved by the Department. Grantee's audit must include a schedule of operating revenues and expenses for the participant's grant contract period on forms prescribed by the Department. Grantee's independent audit shall be submitted to the Department no later than 180 days following the last day of the fiscal year. This deadline may be changed, at the discretion of the Department, to accommodate the participant's fiscal year periods or due to unforeseen circumstances. ITEM 11 - PROJECT CLOSEOUT Upon the Department's receipt of the Grantee's independent audit report of the Project, the Department shall perform a review of the Grantee's independent audit to determine whether to approve the independent audit. Once the Grantee's independent audit has been approved by the Department, the Department shall determine the eligibility of costs incurred and shall make a final determination of amounts due to the Grantee under this Agreement. If the Department has made payment to the Grantee in excess of the final total amount determined by the Department-approved independent audit to be due the Grantee, the Grantee shall promptly remit such excess to the Department. At the discretion of the Department, several years of audit reconciliation balances may be combined to allow for one payment to reconcile minor annual reconciliation balances. The Project close-out occurs when the Department notifies the Grantee that the Project is closed-out and forwards the final Grant payment, as determined by the Department- approved independent audit to the Grantee, or when an appropriate refund of Grant Downstate Public Transportation Operating Grant Page 9