O-2002-2599 - Laserfiche WebLink

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• J. Reversion or Assets • Upon expiration of the term of this Agreement. the Subrecipient shall transfer to the recipient any HOME funds on hand at the time o: expiration and any account receivable attributable to the use of HOME funds. For _rry year following the expiration or termination of this contract that Subrecipient hold: personal property attributable to funds hereunder, Subrecipient shall submit an Annual Report of Personal Property identifying the property and its location, with such report bei=g filed with the OHED and the Harris County Auditor. Grantee may also suspend or terminate this agreement, in whole or in part, if Subrecipient materially fails to comply with any ::rm of this Agreement, or with any of the rules, regulations or pro% isions referred to herein; and the Grantee may declare the Subrecipient ineligible for any further participation. in Grantee Agreements, in addition to other remedies as provided by law. In the event there is probable cause to believe the Subrecipient is in noncompliance with any applicable rules or regulations, the Grantee may withhold up to twenty-five (25) percent of sed Agreement funds until such time as the Subrecipient is found to be in compliance by Le Grantee, or is otherwise adjudicated to be in compliance. IX. ADMINISTRATNE REQUIREMENTS A. Financial ManaQemen- Accounting Standards The Subrecipient agre:s to comply with S::bpart C of OMB Circular A-110 and agrees to adhere to the accounting princ:;)les and procedures required therein, utilize adequate internal controls, and ma• :rain necessary source documentation for all costs incurred. 2. Cost Principles The Subrecipient sh-il administer its --o,-ram in conformance with OMB Circulars A-121. "Cost Principles for \ : n -Profit Organizations, for all costs incurred whether char_ed on a direct or inc.-=ct basis. B. Documentation and R=-ord-KeepinL, Records to be Maintained The Subrecipient shat: maintain all recor=.s required by the federal regulations specified in 24 C.F.R. Part 92.508 and tr_t are pertinent to the activities to be funded under this Agreement. Such record: shall include but not be limited to: