COMMUNITY ACTION PARTNERSHIP OF ORANGE COUNTY 6 -2015

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d a a Audit requirements for cute : The grantee must ensure that the subreciplents receiving CDC funds also meet these requirements. The grantee must also ensure to take appropriate corrective action within six months after receipt of the subrecipient audit report in instances of non - compliance with applicable Federal law and regulations (2 CFR 200 Subpart F and HHS Grants Policy Statement). The grantee may consider whether subrecipient audits necessitate adjustment of the grantee's Own accounting records, if a subrecipient is not required to have a program - specific audit, the grantee is still required to perform adequate monitoring of subrecipient activities. The grantee shall require each subrecipient to permit the Independent auditor access to the subrecipient's records and financial statements. The grantee must include this requirement in all subrecipient contracts. Note: The standards set forth in 2 CFR Part 200 Subpart F will apply to audits Of fiscal years beginning on or after December 26, 2014. Federal Funding Accountability and Transparency Act (FFATA): FFATA applies to new awards that have been made and noncompeting continuations that were issued as new awards on or after October 1, 2010. In accordance with 2 CFR Chapter 1, Part 170 Reporting Sub -Award And Executive Compensation Information, Prime Awardees awarded a federal grant are required to fife a FFATA sub -award report by the end of the month following the month In which the prime awardee awards any sub -grant equal to or greater than $25,000. Pursuant to A -133 (see Section .205(h) and Section_ 205(1)), a grant sub -award includes the Provision of any commodities (food and non -food) to the sub - recipient where the sub - recipient is required to abide by terms and conditions regarding the use or future administration of those goods. If the sub- awardee merely consumes or utilizes the goods, the commodities are not in and of themselves considered sub- awards. 2 CFR Part 170: FFATA: www.fsrs.gov. Reoorting of First -Tier Sub awards Applicability: Unless you are exempt (gross income from all sources reported in last tax return Is under $300,000), YOU must report each action that obligates $25,000 or more in Federal funds that does not include Recovery funds (as defined in section 1512(a)(2) of the American Recovery and Reinvestment Act of 2009, Pub. L 111 -5) for a sub -award to an entity. Reporting: Report each obligating action of this award term to httoa /www.fsrs oov. For sub -award information, report no later than the end of the month following the month in which the obligation was made. (For example, if the obligation was made on November 7, 2010, the obligation must be reported by no later than December 31, 2010). You must report the information about each obligating action that the submission instructions posted at WJL1/www fSrE goyspecify. To I Compensation Of Recipient Executives: You must report total compensation for each of your five most highly compensated executives for the preceding completed fiscal year, if. • The total Federal funding authorized to date under this award is $25,000 or more; • In the preceding fiscal year, you received- 0 80 percent or more of your annual gross revenues from Federal procurement contracts (and subcontracts) and Federal financial assistance subject to the Transparency Act, as defined at 2 CFR Part 170.320 (and sub - awards); and o $25,000,000 or more in annual gross revenues from Federal procurement contracts (and subcontracts) and Federal financial assistance subject to the Transparency Act, as defined at 2 CFR Part 170.320 (and sub - awards); and o The public does not have access to information about the compensation of the executives through periodic reports filed under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. Part 78m(a), 780(d)) or section 6104 of the Internal Revenue Code of 1986. (To determine if the public has access to the compensation information, see the U.S. Security and Exchange Commission total compensation filings at http / /www sec gov /a Ewer /9xgcomp.htm), Page 7 of 16