- A. Institutions shall conduct financial audits of their program in accordance with the office of management and budget circulars A-133 and A-110 and the U.S. department of agriculture’s uniform federal assistance regulations (7 CFR Part 3015). CYFD instructs institutions of the audit requirements during annual training.
- B. Institutions not subject to the OMB A-133 or A-110 audit requirements will have a financial review conducted by CYFD during administrative program reviews which will be conducted no less than every three years and upon any referral or complaint regarding financial operations.
- C. Audits are due to CYFD no later than nine months after the close of the institution’s fiscal year.
[8.2.2.13 NMAC - Rp, 8 2.2.13 NMAC, 06-15-09]