3570.83—Audits.
(a)
Audits will be conducted in accordance with 7 CFR 1942.17(q)(4), except as provided in this section.
(b)
Grantees who are not required to submit an audit report will, within 60 days following the end of the fiscal year in which any grant funds were expended, furnish RHS with annual financial statements, consisting of a verification of the organization's balance sheet and statement of income and expense report signed by an appropriate official of the organization or other documentation as determined appropriate by the approval official.