Post assistance requirements...
Loan recipients must submit a copy of the Credit Union's Community Needs Plan with their application, annual audit report of the Supervisory Committee, quarterly, semi-annual or other financial, business or program reports as required by NCUA and a final report summarizing the activities and accomplishments of the project in relation to the approved goals and objectives.
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.
The recipient credit union must submit to NCUA annually the Supervisory Committee's audit report and the annual State or Federal examiner's report within 30 days of issuance.
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).
Loan recipients are required to keep all financial, business and program reports necessary for program review and audit to ensure that funds have been expended in accordance with the regulations, loan agreement and terms and conditions of the Revolving Loan Program.
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.