|(a) Grantee will contract with an independent, licensed
CPA firm to perform an annual financial audit engagement. If applicable,
grantee's independent, licensed CPA firm will determine the type of
annual financial audit, which may include a compliance attestation
in accordance with federal audit requirements and/or Texas Single
Audit Circular (Single Audit or non-Single Audit financial audit).
(b) A grantee must submit to the OAG one copy of all
audit reports, including audits as required in UGMS and all other
audits that a grantee undergoes, regardless of the purpose. The grantee
must submit an audit report to the OAG within 30 calendar days after
receipt of the audit report, or nine months after the end of the audit
(c) OAG contract funds may only be used for the fair
and reasonable share of audit costs required by the OAG, in accordance
with applicable federal and state cost principles.