R2018-30 Authorizing Recipient Agreement with Coalition of Neighborhood Organizations CONO

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Reversion of assets. Under this agreement upon its expiration the Recipient shall transfer to the recipient any funds on hand at the time of expiration and any accounts receivable attributable to the use of those funds. 6. Obiectives The Recipient agrees to maintain documentation that demonstrates that the activities carried out with funds provided under this contract meet one or more of the following objectives - 1) benefit low/moderate income persons; 2) aid in the prevention or elimination of slum or blight;3)meet community development needs. 7. Close-outs Recipient obligation to the City shall not end until all close-out requirements are completed. Activities during this close-out period shall include, but are not limited to; making final payments, disposing of program assets, (including the return of all unused materials, equipment, program income balances, and receivable accounts) to the City, and determining the custodianship of records. 8. Audits and Inspections All Recipient records with respect to any matters covered by this agreement shall be made available to the City, grantor agency,or their designees, at any time during normal business hours, as often as the City or grantor agency deems necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Recipient within 30 days after receipt by the Recipient. Failure of the Recipient to comply with the above audit requirements will constitute a violation of this contract and may result in the withholding of future payments. C. Reporting and Payment Procedures 1. Budgets The Recipient will adhere to the detailed contract budget, as revised(if applicable), that was submitted with the application and attachment to the contract infers acceptance by the City. The City and the Recipient may agree to revise the budget from time to time as mutually agreed, only if it remains in conformance with City Council's wishes. 2. Payment Procedures The City will pay to the Recipient funds available under this contract based upon information submitted by the Recipient and consistent with any approved budget as long as they were incurred after the Notice to proceed was issued, and within the year as noted above. Payments will be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. The only exception Recipient Agreement(Rev. 3/8/18) Page 7 of 15