OMB AUDIT. If the (City/County/Grantee) expend(s) five hundred thousand ($500,000) or more in a year in federal finance assistance it is required to have an independent annual audit conducted in accordance with OMB Circular A-133. A copy of the audit report shall be submitted to MoDOT within thirty (30) days of the issuance of the report. Subject to the requirements of OMB Circular A-133, if the (City/County/Grantee) expend(s) less than five hundred thousand dollars ($500,000) a year, the (City/County/Grantee) may be exempt from auditing requirements for that year but records must be available for review or audit by applicable state and federal authorities.
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OMB AUDIT. If the (City/County/Grantee) Grantee expend(s) five hundred thousand ($500,000) or more in a year in federal finance assistance it is required to have an independent annual audit conducted in accordance with OMB Circular A-133. A copy of the audit report shall be submitted to MoDOT the Missouri Department of Transportation (MoDOT) within thirty (30) days of the issuance of the report. Subject to the requirements of OMB Circular A-133, if the (City/County/Grantee) Grantee expend(s) less than five hundred thousand dollars ($500,000) a year, the (City/County/Grantee) Grantee may be exempt from auditing requirements for that year but records must be available for review or audit by applicable state and federal authorities.
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