Common use of Reporting Audits Clause in Contracts

Reporting Audits. A. Commencing with the Effective Date of this Agreement and continuing through the Expiration Date, the Contractor shall submit an annual report to the Department by July 31 of each year that reports all activities from the previous fiscal year (7/1–6/30), on forms provided by the Department. The first report will be due on July 31, 2021 and will report all activities from date of initial fund disbursement through June 30, 2021. B. The annual report shall contain a detailed report which must include, at a minimum: 1) Identification of the Eligible Activities to which the Contractor committed program funds, and the income levels of households assisted. 2) Amounts awarded to Subrecipients with the activity(ies) identified; 3) Identification of the Eligible Activities upon which the Contractor expended program funds, and the income levels of households assisted and the affordability level for any units assisted; and, 4) Close out report for contracts that were fully expended and in which all activities funded were completed during the fiscal year. C. The Department may request additional information as needed to meet other applicable reporting or audit requirements. D. The Contractor is responsible for the completion of audits and all costs of preparing audits.