Common use of Audit and Inspections Clause in Contracts

Audit and Inspections. All Borrower records with respect to any matters covered by this Agreement shall be made available to the County Board, HUD, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Borrower within 30 days after receipt by the Borrower. Failure of the Borrower to comply with the above audit requirements will constitute a violation of this Agreement and may result in the withholding of future payments. The Borrower hereby agrees to have an annual agency audit conducted in accordance with current County Board policy concerning subrecipient audits and OMB Circular A-133.

Audit and Inspections. All Borrower records with respect to any matters covered by this Agreement Article VI shall be made available to the County Board, HUD, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Borrower within 30 days after receipt by the Borrower. Failure of the Borrower to comply with the above audit requirements will constitute a violation of this Agreement and may result in the withholding of future payments. The Borrower hereby agrees to have an annual agency audit conducted in accordance with current County Board policy concerning subrecipient audits and OMB Circular A-133.