N.J. Admin. Code § 16:56-7.1

Current through Register Vol. 57, No. 1, January 6, 2025

Section 16:56-7.1 - Audit requirements

(a) A recipient of a grant or loan under this chapter shall comply with the State of New Jersey single audit policy for recipients of Federal grants, State grants, and State aid defined by the Department of the Treasury, Office of Management and Budget and the Single Audit Act of 1984 (Federal OMB Circular A-133), incorporated herein by reference, as amended and supplemented. Copies of these circulars can be obtained from the New Jersey Department of the Treasury, Office of Management and Budget at http://www.state.nj.us/infobank/circular/circindex.htm and http://www.whitehouse.gov/OMB or by mail from:

New Jersey Department of Treasury

Office of Management & Budget

PO Box 221

Trenton, NJ 08625-0221

(b) The Department shall direct that an audit of the recipient be performed by an independent auditor or public accountant who meets the independence standards specified in generally accepted government auditing standards in conformity with State audit policy.

(c) Audit costs incurred by recipients to comply with this subchapter are not reimbursable.

N.J. Admin. Code § 16:56-7.1

Recodified from N.J.A.C. 16:56-5.1 and amended by R.2014 d.055, effective 4/7/2014.
See: 45 N.J.R. 2191(a), 46 N.J.R. 638(a).
In the introductory paragraph of (a), substituted "a grant or loan" for "financial assistance", and inserted "the" preceding "Treasury"; and in the address in (a), substituted "New Jersey" for "N.J."