Post assistance requirements...
Applicant will keep a complete accounting of the cost of developing and operating the State inspection program and will submit quarterly statements to the Food Safety and Inspection Service.
This section indicates whether program reports, expenditure reports, cash reports or performance monitoring are required by the Federal funding agency, and specifies at what time intervals (monthly, annually, etc.) this must be accomplished.
State will arrange for an audit of the records pertaining to these agreements by the State Auditor of Public Accounts, annually or otherwise, as provided by applicable State law or regulations. In accordance with the provisions of OMB Circular No. A-133, "Audits of States, Local Governments, and Other Non-Profit Organizations," State and local governments, that expend financial assistance of $300,000 or more in Federal awards, will have a single or a program-specific audit made for that year. State and local governments that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 7 CFR 3052.
This section discusses audits required by the Federal agency.
The procedures and requirements for State and local governments and nonprofit entities are set forth in OMB Circular No. A-133.
These requirements pertain to awards made within the respective State's fiscal year - not the Federal fiscal year,
as some State and local governments may use the calendar year or other variation of time span designated as the fiscal year period,
rather than that commonly known as the Federal fiscal year (from October 1st through September 30th).
Complete accounting records shall be available to the Comptroller General of the United States and to the authorized representatives of the Secretary of Agriculture.
This section indicates the record retention requirements and the type of records the Federal agency may require.
Not included are the normally imposed requirements of the General Accounting Office.
For programs falling under the purview of OMB Circular No. A-102, record retention is set forth in Attachment C.
For other programs, record retention is governed by the funding agency's requirements.