10a NCAC 97C .0505 SATISFACTION OF FINAL AUDIT DISALLOWANCE
(a) Unless the grant recipient receives written notice from the Office granting an extension, all final disallowances shall be satisfied within 60 days of the date on which the disallowance becomes final. Grant recipients shall satisfy final disallowance through cash payments to the Office unless they have received written notice allowing an alternative means of satisfaction.
(b) Failure by the grant recipient to satisfy a final disallowance or take corrective action to remedy deficiencies in its accounting system and internal controls determined by the Office after audit may result in suspension, termination, or other remedial action. The Office may take appropriate action to recover the amounts in question.
History Note: Authority G.S. 143B‑10; 143B‑276; 143B‑277; 143‑323(d);
Eff. December 1, 1983;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 25, 2015.