Post assistance requirements...
Instructions provided in Request for Application.
This section indicates whether program reports, expenditure reports, cash reports or performance monitoring are required by the Federal funding agency, and specifies at what time intervals (monthly, annually, etc.) this must be accomplished.
In accordance with the provisions of OMB Circular No. A- 133, "Audits of States, Local Governments, and Nonprofit Organizations," State governments that expend Federal financial assistance of $300,000 or more within any fiscal year shall have either a single audit or (in certain cases) a program specific audit made for that year. Audits may be conducted less frequently under conditions specified in A-133.
This section discusses audits required by the Federal agency.
The procedures and requirements for State and local governments and nonprofit entities are set forth in OMB Circular No. A-133.
These requirements pertain to awards made within the respective State's fiscal year - not the Federal fiscal year,
as some State and local governments may use the calendar year or other variation of time span designated as the fiscal year period,
rather than that commonly known as the Federal fiscal year (from October 1st through September 30th).
State agencies must maintain records as necessary to support the use of TN Training Grant funds in accordance with the Grant Agreement. Such records must be retained for a period of 3 years after the date of submission of the final report for the fiscal year to which the records pertain, except that if audit findings have not been resolved, the records shall be retained beyond the three year period as long as required for the resolution of the issues raised by the audit.
This section indicates the record retention requirements and the type of records the Federal agency may require.
Not included are the normally imposed requirements of the General Accounting Office.
For programs falling under the purview of OMB Circular No. A-102, record retention is set forth in Attachment C.
For other programs, record retention is governed by the funding agency's requirements.