- (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.
Added at 11 Ok Reg 673, eff 11-29-93 (emergency)
Added at 11 Ok Reg 2771, eff 6-13-94
Amended at 22 Ok Reg 897, eff 5-12-05