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. . • • ` � � II <br /> B. Grant Closeout. In addition to any other reporting requirements specified in this I�' <br /> Agreement, the Grantee shall complete and submit a final Grant Closeout Report on <br /> forms provided by the Department, within time limits established by the Department, <br /> after the expiration or termination of this Agreement. The Grantee must report on the , <br /> expenditure of grant funds provided by the State, and if applicable, the Grantee's ', <br /> � required matching funds. The Grantee is responsible for taking the necessary steps to <br /> correct any defic�encies disclosed by such Grant Closeout Report, including such action <br /> as the Department, based on its review of the�Grant Closeout Report, may direct. <br /> In accordance with the Illinois Grant Funds Recovery Act, 30 ILCS 705/1 et seq., the <br /> Grantee must, within 45 days of the expiration or termination of this Agreement, refund <br /> to the Department, any balance of funds which is unobligated at the end of the Grant <br /> term specified in the Notice of Grant Award. For purposes of preparation of grant <br /> close•out forms, the determination of allowable expenditures and excess grant funds <br /> shall be based on the premise that the total Grantee compensation under this <br /> Agreement shall not exceed the amount specified in the Notice of Grant Award. <br /> C. Audit Rec�uire= <br /> If required by Part II of this Grant Agreement, the Grantee shall be required to have an <br /> audit conducted in accordance with the following terms: <br /> a. State Audit Reauirements: � <br /> (i) the audit shall be conducted by a certified public accountant who is licensed by <br /> the State of Illinois to conduct an audit in acco�dance with Generally Accepted <br /> Auditing Standards. <br /> (ii) Grant funds shall be included 'in the Grantee's annual audit, untess the <br /> Department authorizes the Grantee to have a grant•specific audit conducted. <br /> (iii) Upon completion of an audit, an audit report shall be issued and the Gr�ntee <br /> nt with a co of such au.dit report. <br /> he De artme pY <br /> shall rovide t p <br /> P <br /> (iv) The Grantee shall provide the Department with a copy of an audit report within <br /> 30 days of the Grantee's receipt of such audit report, but in no event later than <br /> nine months following the end of the period for which the audit was performed. <br /> The Grantee shall send the audit report to the Department at the following <br /> address: <br /> Illinois Depa�tment of Commerce and Community Affairs <br /> Division of Audits � <br /> � � , 620 East Adams • 2nd Floor <br /> Springfield, IL 62701 <br /> D. Worker's Com�ensation Insu�ance Social Securiri. Retireme�t and Healt <br /> Insurance Benefits. and Taxes. The Grantee shall provide Worker's Compensation <br /> insurance where the same is required and shall accept full responsibility for the payment <br />