Post assistance requirements...
The Grantee shall submit to FEMA and the New York State Insurance Department (SID) the following reports: a) A report from the Captive 30 days after the Captive has reported to the Grantee, the City and the designate representative of the Contractors each calendar quarter of losses incurred, losses paid, changes in experience account balance, and changes in individual and aggregate case reserves and indicated reserves for losses incurred but not reported during the immediately preceding calendar quarter; b) The annual reports the Captive must submit to the Superintendent of SID (within 10 days of such submission); c) The annual financial statements (which shall be prepared no later than ninety days following the last day of each calendar year and audited by an independent auditor whose selection was made following 30 days notice to FEMA); and d) The minutes of all meetings of the Captive Board of Directors and Advisory Committee. The Grantee shall also report quarterly, beginning June 30, 2003, to the Committees on Appropriations of the U.S. Congress and FEMA, regarding the expenditure of and investment earnings from the Grant Award, utilizing information culled from the reporting requirements listed above. The Grantee shall submit a Financial Status Report, SF 269, within 30 days from the end of the federal quarter that the Grantee expends the funds. The financial and performance reports required by this Article will also be utilized to satisfy the after-the-grant requirements of 44 C.F.R. 13.50. The Grantee shall submit required reports to FEMA at: 500 C Street SW, Washington DC 20472. Attn: Assistance Officer, Administration & Resource Planning.
This section indicates whether program reports, expenditure reports, cash reports or performance monitoring are required by the Federal funding agency, and specifies at what time intervals (monthly, annually, etc.) this must be accomplished.
Grantee must follow the audit requirements under OMB Circular No. A-133. Non-Federal entities that expend the amount listed in OMB Circular No. A-133 or more Federal funds in a year shall have a single or program-specific audit conducted for that year in accordance with the provisions of A-133.
This section discusses audits required by the Federal agency.
The procedures and requirements for State and local governments and nonprofit entities are set forth in OMB Circular No. A-133.
These requirements pertain to awards made within the respective State's fiscal year - not the Federal fiscal year,
as some State and local governments may use the calendar year or other variation of time span designated as the fiscal year period,
rather than that commonly known as the Federal fiscal year (from October 1st through September 30th).
Records shall be retained for 3 years (except in certain rare circumstances described in 44 C.F.R. 13.42) from the date the final financial status report is submitted to FEMA in compliance with 44 C.F.R. 13.42. The Captive's books and records shall be made available to FEMA and SEMO upon reasonable notice.
This section indicates the record retention requirements and the type of records the Federal agency may require.
Not included are the normally imposed requirements of the General Accounting Office.
For programs falling under the purview of OMB Circular No. A-102, record retention is set forth in Attachment C.
For other programs, record retention is governed by the funding agency's requirements.