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O-2002-2588
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O-2002-2588
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Last modified
11/2/2016 3:39:09 PM
Creation date
7/27/2006 9:10:15 AM
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Legislative Records
Legislative Type
Ordinance
Date
10/28/2002
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<br />e <br /> <br />e <br /> <br />date of such termination. Partial terminations, including of the Scope of Service in <br />Paragraph IA above, may be undertaken only with the prior approval of Grantee, <br /> <br />Grantee may also suspend or terminate this Agreement, in whole or in part, if <br />Subrecipient materially fails to comply with any term of this Agreement, or with any of <br />the rules, regulations or provisions referred to herein; and the Grantee may declare the <br />Subrecipient ineligible for any further participation in Grantee Agreements, in addition to <br />other remedies as provided by law. Additionally, in the event there is probable cause to <br />believe the Subrecipient is in noncompliance with any applicable rules or regulations, the <br />Grantee may withhold up to 15 percent of said Agreement funds until such time as the <br />Subrecipient is found to be in compliance by the Grantee, or is otherwise adjudicated to <br />be in compliance. <br /> <br />Termination, or expiration, of this Agreement shall not relieve Subrecipient of liability <br />for any breach of this Agreement that occurs prior to such termination or expiration. . <br /> <br />H, Reversion of Assets <br /> <br />Upon expiration of the term of this Agreement, the Subrecipient shall transfer to the <br />Grantee any CDBG funds on hand at the time of expiration which were not used in <br />performance of the project and any account receivable attributable to the use of <br />CDBG funds. <br /> <br />Vill. ADMINISTRATIVE REOUIREMENTS <br /> <br />A. Financial Management <br /> <br />1. Accounting Standards <br /> <br />The Subrecipient agrees to comply with Subpart C of OMB Circular A-I02 and <br />agrees to adhere to the accounting principles and procedures required therein, <br />utilize adequate internal controls, and maintain necessary source documentation <br />for all costs incurred, <br /> <br />2, Cost Principles <br /> <br />The Subrecipient shall administer its program in conformance with OMB <br />Circulars A-87 and the applicable sections of 24 C,F.R. Part 85, "Uniform <br />Administrative Requirements for Grants and Cooperative agreements to State and <br />Local Governments," for all costs incurred whether charged on a direct or indirect <br />basis, <br /> <br />B. Documentation and Record-Keeoing <br /> <br />1. Records to be Maintained <br /> <br />7 <br />
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