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DocuSign Envelope ID: 885498D2-1CBA-4928-AE9B-EDEEE17D7376 <br />for Federal Awards. If CONTRACTOR is not subject to the aforementioned <br />regulations for any year covered during the term of this Agreement, <br />CONTRACTOR shall provide ADMINISTRATOR an Independent Auditor's <br />Report of CONTRACTOR's financial statements. The audit must be performed in <br />accordance with generally accepted government auditing standards. <br />CONTRACTOR shall cooperate with COUNTY, State, and/or federal agencies to <br />ensure that corrective action is taken within six (6) months after issuance of all audit <br />reports with regard to audit exceptions. <br />26.2 It is mutually understood that CONTRACTOR's yearly fiscal cycle covers July 1 <br />through June 30. CONTRACTOR shall provide ADMINISTRATOR copies of <br />organization -wide audits for each of the fiscal cycles corresponding with the term <br />of this Agreement. CONTRACTOR shall provide each audit within fourteen (14) <br />calendar days of CONTRACTOR's receipt. Failure of CONTRACTOR to comply <br />with this Paragraph shall be sufficient cause for ADMINISTRATOR to deny <br />payment under this or any subsequent Agreement with CONTRACTOR until such <br />time as the required audit(s) are provided to ADMINISTRATOR. <br />ADMINISTRATOR may modify CONTRACTOR's audit submission deadline <br />upon notice to CONTRACTOR. <br />27. RECORDS, INSPECTIONS, AND AUDITS <br />27.1 Financial Records <br />27.1.1 CONTRACTOR shall prepare and maintain accurate and complete <br />financial records. Financial records shall be retained by CONTRACTOR <br />for a minimum of five (5) years from the date of final payment under this <br />Agreement, or until all pending COUNTY, State, and federal audits are <br />completed, whichever is later. <br />27.1.2 CONTRACTOR shall establish and maintain reasonable accounting, <br />internal control, and financial reporting standards in conformity with <br />generally accepted accounting principles established by the American <br />Institute of Certified Public Accountants and to the satisfaction of <br />ADMINISTRATOR. <br />WDM0522 Page 27 of 45 March 1, 2022 <br />