Oklahoma Administrative Code
Title 340 - Department of Human Services
Chapter 105 - Aging Services
Subchapter 10 - Policies and Procedures Manual for Title III of the Older Americans Act of 1965, as Amended
Part 9 - FISCAL AND ADMINISTRATIVE POLICIES FOR AREA AGENCIES ON AGING AND TITLE III PROJECTS
Section 340:105-10-110.1 - Audits of government entities and nonprofit agencies receiving between $50,000 and $500,000 in federal and state funds from all sources

Universal Citation: OK Admin Code 340:105-10-110.1

Current through Vol. 42, No. 1, September 16, 2024

(a) Policy. Government entities and nonprofit agencies receiving more than $50,000 in federal and state funds and less than $500,000 in federal funds from all sources are required to obtain annual audits on such funds unless the grantee has a constitutional or statutory requirement for less frequent audits.

(b) Authority. The authority for this Section is Section 212A of Title 74 of the Oklahoma Statutes and the contract between the Area Agency on Aging and the subgrantee.

(1) The audit:

(A) is a certified independent audit of the grantee's entire operations conducted in accordance with generally accepted government auditing standards;

(B) includes financial statements prepared in accordance with generally accepted accounting principles;

(C) includes a Supplementary Schedule of State and Federal Awards listing all state and federal revenues and expenditures by contract;

(D) covers the period the contract was in effect;

(E) is performed by a certified public accountant or public accountant with a valid and current permit to practice accountancy in Oklahoma; and

(F) is not charged to federal funds or to meet match requirements.

(2) The Oklahoma Department of Human Services retains the right to examine and audit paperwork.

(d) Cross references. Refer to OAC 340:105-10-106 through 340:105-10-113.

Amended at 15 Ok Reg 249, eff 10-9-97 (emergency); Amended at 15 Ok Reg 1692, eff 5-11-98; Amended at 22 Ok Reg 897, eff 5-12-05; Amended at 28 Ok Reg 898, eff 6-1-11

Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

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