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<br />FM#424374-1-58-0 I <br />Page 9 of 23 <br /> <br />Original Draft: 7/25/2008 <br />Revised; <br /> <br />10. Records of costs incurred under the terms ofthis AGREEMENT shall be maintained <br />and made available upon request to the DEPARTMENT at all times during the period of this <br />AGREEMENT and for a period of five (5) years after final payment is made. Copies of these <br />documents and records shall be furnished to the DEPARTMENT upon request. Records of costs <br />incurred includes the LOCAL GOVERNMENT'S general accounting records and the project <br />records, together with supporting documents and records, ofthe contractor and all subcontractors <br />performing work on the PROJECT, and all other records of the contractor and subcontractors <br />considered necessary by the DEP AR TMENT for a proper audit of costs. <br /> <br />11. Audits: The administration of resources awarded by the DEPARTMENT to the <br />LOCAL GOVERNMENT may be subject to audits and/or monitoring by the Department, as <br />described in this section. <br /> <br />MONITORING <br /> <br />In addition to reviews of audits conducted in accordance with OMB Circular A-B3 and Section <br />215.97, Florida Statutes, as revised (see "AUDITS" below), monitoring procedures may include, but <br />not be limited to, on-site visits by Department staff, limited scope audits as defined by OMB <br />Circular A-B3, as revised, and/or other procedures. By entering into this agreement, the recipient <br />agrees to comply and cooperate fully with any monitoring procedures/processes deemed appropriate <br />by the Department. In the event the Department determines that a limited scope audit of the <br />recipient is appropriate, the recipient agrees to comply with any additional instructions provided by <br />the Department staff to the Local Government regarding such audit. The Local Govemment further <br />agrees to comply and cooperate with any inspections, reviews, investigations, or audits deemed <br />necessary by the FDOT's Office ofInspector General (OIG) and Florida's Chief Financial Officer <br />(CFO) or Auditor General. <br /> <br />AUDITS <br /> <br />PART I: FEDERALLY FUNDED <br /> <br />Recipients of federal funds (i.e. state, local government, or non-profit organizations as defined in <br />OMB Circular A-B3, as revised) are to have audits done annually using the following criteria: <br />