Section 302.9 - Financial and administrative requirements(a)General. The requirements of 2 CFR part 200, the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, govern the implementation and management of grants awarded under this part. Awards issued pursuant to this program will also be subject to the Department of Commerce Standard Terms and Conditions for Financial Assistance Awards that are in effect on the date of the award. The current version, dated November 12, 2020, is accessible at: https://www.commerce.gov/sites/default/files/2020-11/DOC%20Standard%20Terms%20and%20Conditions%20-%2012%20November%202020%20PDF_0.pdf. Awards issued pursuant to this program may also be subject to specific award conditions as authorized by 2 CFR 200.208 .(b)Reporting requirements - (1)Performance reports. Each grant recipient shall submit semi-annual and annual performance reports to NTIA, following the procedures of 2 CFR 200.329 . Semi-annual performance reports are due within 30 calendar days after the reporting period. Annual performance reports are due within 90 calendar days after the reporting period, except when a final report is required under § 302.10 .(2)Financial reports. Each recipient shall submit quarterly financial reports to NTIA and the National Institute of Standards and Technology (NIST), following the procedures of 2 CFR 200.328 , within 30 calendar days after the reporting period, except when a final financial report is required under § 302.10 .(c)Audit requirements. All CMC grant awards are subject to audit in accordance with 2 CFR part 200, subpart F and the Department of Commerce Financial Assistance Standard Terms and Conditions. Specifically, 2 CFR part 200, subpart F, adopted by the Department of Commerce through 2 CFR 1327.101 requires any non-federal entity (as defined in 2 CFR 200.1 ) that expends Federal awards of $750,000 or more in the recipient's fiscal year to conduct a single or program-specific audit in accordance with the requirements set out in subpart F. Additionally, unless otherwise specified in the terms and conditions of the award, entities that are not subject to subpart F of 2 CFR part 200 (e.g., commercial entities) that expend $750,000 or more in DOC funds during their fiscal year must submit to the Grants Officer either: A financial related audit of each DOC award or subaward in accordance with Generally Accepted Government Auditing Standards; or a project specific audit for each award or subaward in accordance with the requirements contained in 2 CFR 200.507 . Applicants are reminded that NTIA, NIST, the Department of Commerce Office of Inspector General, or another authorized Federal agency may conduct an audit of an award at any time.