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<br />(d) The Recipient shall provide the Department with an annual financial audit report <br />which meets the requirements of Sections 11.45 and 216,349, Fla. Stat., and Chapter 10.550 and <br />10.600, Rules of the Auditor General. <br /> <br />1, The annual financial audit report shall include all management letters and the <br />Recipient's response to all findings, including corrective actions to be taken. <br /> <br />2. The annual financial audit report shall include a schedule of financial <br />assistance specifically identifying all Agreement and other revenue by sponsoring agency and <br />Agreement number. <br /> <br />3, The complete financial audit report, including all items specified in (12)(d) 1 <br />and 2 above. shall be sent directly to: <br /> <br />Department of Community Affairs <br />Office of Audit Services <br />2555 Shumard Oak Boulevard <br />Tallahassee, Florida 32399-2100 <br /> <br />(e) In the event the audit shows that the entire funds disbursed hereunder, or any <br />portion thereof, were not spent in accordance with the conditions of this Agreement, the Recipient shall <br />be held liable for reimbursement to the Department of all funds not spent in accordance with these <br />applicable regulations and Agreement provisions within thirty (30) days after the Department has notified <br />the Recipient of such non-compliance. <br /> <br />(f) The Recipient shall retain all financial records, supporting documents, statistical <br />records, and any other documents pertinent to this contract for a period of three years after the date of <br />submission of the final expenditures report. However, if litigation or an audit has been initiated prior to <br />the expiration of the three-year period, the records shall be retained until the litigation or audit findings <br />have been resolved. <br /> <br />(g) The Recipient shall have all audits completed by an independent certified public <br />accountant (IPA) who shall either be a certified public accountant or a public accountant licensed under <br />Chapter 473, Fla. Stat. The IPA shall state that the audit complied with the applicable provisions noted <br />above. <br /> <br />(h) The audit is due seven (7) months after the end of the fiscal year of Recipient or by <br />the date the audit report is issued by the state Auditor General, whichever is later. <br /> <br />(i) An audit performed by the State Auditor General shall be deemed to satisfy the <br />above audit requirements. <br /> <br />(12) SUBCONTRACTS, <br /> <br />If the Recipient subcontracts any or all of the work required under this Agreement, a <br />copy of the executed subcontract must be forwarded to the Department within ten (10) days after <br />execution of the subcontract. The Recipient agrees to include in the subcontract that (i) the <br />subcontractor is bound by all applicable state and federal laws and regulations. (ii) the subcontract is <br />bound by the terms and conditions of this contract between the Recipient and the Department. and (iii) <br />the subcontractor shall hold the Department and Recipient harmless against all claims of whatever <br />nature arising out of the subcontractor's performance of work under this Agreement. to the extent <br />allowed and required by law. Any work products produced under the terms of a subcontract entered into <br />by the Recipient must meet the full terms and conditions, including timeframes, of this agreement <br /> <br />6 <br />