133 (Revised, June 24, 1997), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that receive financial assistance of $300,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $300,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. Records: In accordance with Section 443 of the General Education Provisions Act, as amended by the Improving America's Schools Act, grantees must maintain records for 3 years. FINANCIAL INFORMATION: Account Identification: 91-1000-2-1-501. Obligations: (Grants and Contracts) FY 99 $3,000,000; FY 00 est $3,000,000; and FY 01 est $3,000,000. Range and Average of Financial Assistance: For fiscal year 1999 implementation grants, the average is expected to be $150,000 and $850,000 for a contract; and $82,000 for a research and development grant. PROGAM ACCOMPLISHMENTS: 388 In fiscal year 1999, the Department expects to award one contract and make 15 implementation grants and one research and development grant. REGULATIONS, GUIDELINES, AND LITERATURE: Educational Department General Administrative Regulations (EDGAR) in 34 CFR 74, 75, 77, 79, 80, 81, 82, 85, and 86. INFORMATION CONTACTS: Headquarters Office: Equity and Educational Excellence Division, Office
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