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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 29. PUBLIC WELFARE |
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Chapter 29-18. HEALTH CARE BENEFIT GRANTS |
Section 29-1813. GRANT CLOSE OUT
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1813.1All grantees and subgrantees are subject to audit in connection with the close out of the grant.
1813.2A grantee or subgrantee that has been designated high risk, or has expended $500,000 more in grant funds during the grant year, an independent and in-depth financial statement and audit of the type required by OMB Circular A133’s “single audit” for any entity that expends $500,000 or more of grant funds during the grant year is required.
1813.3A grantee or sub-grantees that are assigned a “medium-risk” assessment by their awarding Department, or those that expend between $499,999 and $250,000, shall be required to prepare and file at close-out a less-extensive financial statement report prepared by an independent accountant containing:
(a) An income statement;
(b) A balance sheet;
(c) A reconciliation of cash balances;
(d) A reconciliation of stockholder equity (if the grantee is a for-profit entity); and
(e) An independent review of management’s internal controls.
1813.4A grantee or sub-grantee receiving and expending between $25,000 and $249,999 during the grant year shall be required to file a financial statement that contains:
(a) An income statement;
(b) A balance sheet;
(c) A reconciliation of cash balances; and
(d) A review of management’s internal controls.
1813.5A grantee or sub-grantee assigned a “low-risk” designation, and any other grantee or sub-grantee that receives and spends up to $24,999, shall file a simple financial report containing:
(a) An income statement; and
(b) A balance sheet.