Common use of Audit and Monitoring Clause in Contracts

Audit and Monitoring. GRANTEE shall provide the DEPARTMENT with an annual financial audit in accordance with 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award. The audit shall be completed by a certified public accountant during the regular annual audit cycle. Over the term of this Agreement, GRANTEE shall provide the DEPARTMENT with annual audits through the last fiscal year grant funds are expended. The DEPARTMENT may monitor and make periodic inspections and evaluations of the Project funded by this Agreement, and any books, accounts, reports, files, and other papers and records pertaining to the Project. GRANTEE shall make its books, accounts, reports, files, and other records available to the DEPARTMENT during regular working hours. GRANTEE shall maintain these books, accounts, reports, files, and other records for at five (5) years following closeout of the Project. In the event GRANTEE provides any portion of its ICDBG funds in any fiscal year to a sub-recipient, GRANTEE shall require the sub-recipient to comply with the audit and monitoring requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award. GRANTEE shall be responsible for monitoring sub-recipient compliance with all federal and state laws, rules, regulations, and ordinances including the audit requirements of this Section. ▇▇▇▇▇▇▇ agrees that HUD Representatives, the Inspector General, or the General Accounting Office shall also have access to all books, accounts, reports, files, and other papers or property pertaining to the Project funded by this Agreement.