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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 340. Department of Human Services |
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Chapter 105. Aging Services |
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Subchapter 10. Policies and Procedures Manual for Title III of the Older Americans Act of 1965, as Amended |
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Part 9. FISCAL AND ADMINISTRATIVE POLICIES FOR AREA AGENCIES ON AGING AND TITLE III PROJECTS |
SECTION 340:105-10-109. Audits of profit-making grantees
Latest version.
- (a) Policy. Each profit-making grantee of Older Americans Act (OAA) funds obtains an annual audit of OAA funds to meet the Office of Management and Budget (OMB) Circular A-133 standards for a program audit or limited scope audit.(b) Authority. The authority for this Section is OMB Circular A-133 and the contract between the pass through agency and the for-profit grantees.(c) Procedures. Procedures for implementing this Section are described in this subsection. The audit:(1) period is the same as the project's fiscal year;(2) report is specific to the grant-funded project, and is not a single audit of the entire grantee agency;(3) is conducted by a Certified Public Accountant according to generally accepted government auditing standards; and(4) cost is not charged to federal funds and is not used to meet match requirements.(d) Cross references. See OAC 340:105-10-106 through 340:105-10-108 and 340:105-10-110 through 340:105-10-113.