Post assistance requirements...
Reports: Annual grant progress reports and Financial Status Reports must be submitted as required. At the end of a grant, the awardee must file a final progress report, final Financial Status Report and final statement of invention.
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.
In accordance with the provisions of OMB Circular No.A-133, "Audits of States, Local Governments, and Nonprofit Organizations", audits required under these provisions apply to nonfederal organizations that expend $300,000($500,000 for fiscal years ending after December 31, 2003) or more in a year in Federal awards that they shall have a single or program-specific audit conducted for that year. On federal organizations receiving less than $300,000 (or $500,000 for fiscal years ending after December 31, 2003) are exempt; however, they must maintain records available for review by appropriate officials of the Federal (funding) agency, pass-through entity and the General Accounting Office (GAO). http://www.whitehouse.gov/omb/circulars/a133/a133.pdf For-profit audits of organizations that expend more than $300,000(or $500,000 for fiscal years ending after December 31, 2003) year may have an audit in accordance with the "Government Auditing Standards" (Yellow Book) or an audit that meets the requirements of OMB Circular A-133. Government Auditing Standards is available on the GAO Web site at www.gao.gov/govaud/ybk01.htm.
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).
Financial and programmatic grant records must be retained for 3 years from the day on which the grantee submits the last (annual) Financial Status Report (FSR). Streamlined Noncompeting Application Process (SNAP) awardees beginning date for record retention purposes is the date of the FSR submission for the entire competitive segment of the grant.
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.