Section 133.45. Audits

Each agency shall obtain from delegates copies of interim and final audits, as a part of the agency audit responsibility to the Department. All delegates handling cash shall submit a copy of a fidelity bond to the agency for 1/3 of the total grant or $25,000, whichever is larger. The bond shall be in favor of the Commonwealth and shall become effective on the effective date of the contract. Bonds are renewable each year and whenever any premium rebates are made, the rebated sum shall be payable to the ‘‘Commonwealth of Pennsylvania—Department of Community and Economic Development.’’ All earned interest on program funds shall be turned over to the Department.