R2000-241 AUTHORIZING SUBMISSION OF GRANT APPLICATION

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by such Grant Closeout Report, including such action as the Department, based on its review '� of the Grant Closeout Report, may direct. In accordance with the Illinois Grant Funds Recovery Act, 30 ILCS 705/1 et seq., the Grantee must, within 45 days of the expiration or termination of this Agreement, refund to the Department, any balance of funds which is unobligated at the end of the Grant term specified ' in the Notice of Grant Award. For purposes of preparation of grant closeout forms, the determination of allowable expenditures and excess grant funds shall be based on the premise � that the total Grantee compensation under this Agreement shall not exceed the amount , specified in the Notice of Grant Award. C. Audit Requirements. If required by Part II of this Grant Agreement, the Grantee shall be ' required to have an audit conducted in accordance with the following terms: a. State Audit Requirements: I, (i) The audit shall be conducted by a certified public accountant who is licensed by the State of Illinois to conduct an audit in accordance with Generally Accepted Auditing Standards. (ii) Grant funds shall be included in the Grantee's annual audit, unless the Department authorizes the Grantee to have a grant-specific audit conducted. (iii) Upon completion of an audit, an audit report shall be issued and the Grantee shall provide the Department with a copy of such audit report. (iv) The Grantee shall provide the Department with a copy of an audit report within 30 days of the Grantee's receipt of such audit report, but in no event later than nine months following the end of the period for which the audit was performed. The Grantee shall send the audit report to the Department at the following address: Illinois Department of Commerce and Community Affairs Division of Audits 620 East Adams Springfield, IL 62701 D. Worker's Compensation Insurance. Social Securitx, Retirement and Health Insurance Benefits, and Taxes. The Grantee shall provide Worker's Compensation insurance where the same is required and shall accept full responsibility for the payment of unemployment insurance, premiums for Workers' Compensation, Social Security and retirement and health insurance benefits, as well as all income tax deduction and any other taxes or payroll deductions required by law for its employees who are performing services specified by this Agreement. 5.5 TERMINATION; SUSPENSION. A. This Agreement may be terminated as follows: