| POST ASSISTANCE REQUIREMENTS |
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· Reports |
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An annual performance report of the expenditure of Scholarship funds and other reports as required by the Secretary. |
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· Audits |
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In accordance with the provisions of OMB Circular No. A- 133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Nonprofit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. |
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· Records |
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Records must be maintained for 5 years after the activity for which the funds were awarded or until completion of the Department Audit, whichever is later. |
See AidPage for more information on: Byrd Honors Scholarships
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