Post assistance requirements...
Financial and performance reports must be submitted quarterly as required by OMB Circular No. A-102 and by 44 CFR 13.40 and 44 CFR 13.41. All eligible State participants have been provided a manual, prepared by the FEMA Office of Financial Management, entitled "Outlays, Performance Reporting, Budget Deviations, Property Management and Close-Out Module for Financial and Technical Assistance under CSEPP."
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 Non-Profit Organizations," nonfederal entities that expend financial assistance of $300,000 or more in Federal awards will have an audit made for that year. Nonfederal entities that expend less than $300,000 a year in Federal awards is exempt from Federal audit requirements for that year, except as noted in Circular No. 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).
All pertinent records relating to Federal financial assistance must be maintained and retained for a period of 3 years, as required and defined by OMB Circular No. A-102 and 44 CFR 13.42.
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.