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Educational Partnership Program

Published on AidPage by IDILOGIC on Jun 24, 2005

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Reports

Periodic progress and financial reports are required. However, the reporting frequency may be changed to be more or less frequent progress reports should summarize work accomplished and explain situations where expected work has not been completed. Financial reports must indicate use of funds during the semi-annual period. Final reports are due ninety days after expiration of the award.

Note: 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.

Audits

Recipients will be subject to the provisions of the Single Audit Act Amendments of l996 and revised OMB Circular A-133, "Audits of States and Local Governments and Nonprofit Organizations".

Note: 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).

Records

Financial records and support documents and all other records, i.e. property, performance, work products, patents etc. pertinent to the agreement shall be maintained for a period of three years from the date on which the final expenditure report is submitted.

Note: 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.