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2. Issuing a management decision on audit findings within six months after <br />receipt of the subcontractor's single -audit report and/or other type of audit <br />and ensuring that the subcontractor takes appropriate and timely <br />corrective action; <br />3. Reconciling expenditures reported to County to the amounts identified in <br />the single audit or other type of audit, if the subcontractor was not subject <br />to the single -audit requirements. For a subcontractor who was not <br />required to obtain a single audit and who did not obtain another type of <br />audit, the reconciliation of expenditures reported to County must be <br />accomplished by the performance of alternative procedures (e.g., risk <br />assessments [2 CFR § 200.331], documented review of financial <br />statements, ,documented expense verification, including match, etc); <br />4. When alternative procedures are used, the subcontractor shall perform <br />financial management system testing which provides, in part, for the <br />following: <br />a. Accurate, current, and complete disclosure of the financial results of <br />each federal award or program; <br />b. Records that identify adequately the source and application of funds <br />for each federally funded activity; <br />c. Effective control over, and accountability for, all funds, property, and <br />other assets to ensure these items are used solely for authorized <br />purposes; <br />d. Comparison of expenditures with budget amounts for each federal <br />award; <br />e. Written procedures to implement the requirements of 2 CFR 200.305; <br />and <br />f. Written procedures for determining the allowance of costs in <br />accordance with 2 CFR Part 200, Subpart E -Cost Principles. [2 CFR <br />§ 200.302] <br />5. The subcontractor shall document system and expense testing to show <br />an acceptable level of reliability, including a review of actual source <br />documents; and <br />6. Determining whether the results of the reconciliations performed require <br />adjustment of the subcontractor's own records. <br />21 <br />REV: 01-17-18 RL <br />