Ill. Admin. Code tit. 23, § 1085.110 - Audit Requirements for Grants Awarded by Grow Your Own Illinois

Current through Register Vol. 46, No. 15, April 8, 2022

a) To fulfill the audit requirements of this Part, the grantees shall contract with an external auditor who is a certified public accountant licensed by DFPR to perform an audit as specified in subsection (b).

b) The external auditor shall:

1) Receive a copy of the application for a grant, the executed Grant Agreement, and this Part;

2) Verify the expenditure of funds as provided for in this Part, and ensure that funds were expended on authorized expenditures listed in the Grant Agreement; and

3) Provide an audit report to GYOI including a description of the tests performed and the audit findings.

c) In the event that an audit or other evidence establishes that an overpayment was made to a grantee, a reimbursement to GYOI shall be required. A reimbursement is required in the following situations:

1) Grant funds were not expended within the grant period; or

2) Grant funds were expended for purposes not authorized under the Grant Agreement.

d) In the event that no audit is submitted, a grantee shall reimburse GYOI for the total amount of the grant.

Notes

Ill. Admin. Code tit. 23, § 1085.110

Amended at 44 Ill. Reg. 11419, effective 6/24/2020