Post assistance requirements...
Each State must prepare and submit an annual report on the activities undertaken. Reports will contain information and be formatted as the Secretary may require, or as described in the program application guidance.
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.
As described in Title V, Section 506(b)(1) of the Social Security Act, each state shall, not less often than once every two years, audit its expenditures from amounts received under this title.
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 of the recipient shall be made available to the Secretary to secure an accurate description of the activities for which funds were spent in achieving the purposes of this section. States shall make available copies of reports and audits for public inspection within the State. Within 30 days following the completion of each audit report, the State shall submit a copy of that audit report to the Secretary.
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.