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6. Documentation of persons benefiting from grant activities, including race/ethnicity and <br /> income to substantiate achievement of the CDBG National Objective of benefiting <br /> primarily persons of low- and moderate-income. <br /> 7. Personnel actions. <br /> 8. Acquisition and disposition of property. <br /> II. The records which, at a minimum, must be maintained areas follows: <br /> 1. Financial Records: The SUBRECIPIENT shall, at a minimum, maintain the following <br /> records for each grant received under separate agreement from the CITY: <br /> a. Cash receipts Register: For recording of funds received in connection the grant <br /> program. <br /> b. Cash Disbursements Register: For recording disbursement of funds from the <br /> Agency's CDBG-CV account(s). All disbursements must be supported by <br /> appropriate documentation (e.g.: payroll records, invoices, contracts, etc.) <br /> demonstrating the nature and use of each payment and showing approval of the <br /> program director or other authorized official. In addition, the SUBRECIPIENT <br /> agrees to provide the CITY such financial reports and additional source <br /> documentation as the CITY may reasonably require and to comply with such <br /> reasonable additional financial control procedures as may be required to be <br /> retained in files maintained by the SUB-RECIPIENT. <br /> c. Payroll records: A basic time and activity tracking system shall be maintained to <br /> substantiate the services and staff time charged to the project. This should <br /> include time sheets documenting each person's total time and time charged <br /> against the grant; time sheets must be signed by both the employee and <br /> authorized supervisor of the employee. CDBG-CV grant funds shall not be used <br /> to pay planning and program administrative costs allocable to another grant <br /> under the CDBG annual formula program. <br /> 2. Equipment Records`A record shall be maintained for each item of equipment acquired <br /> for the Program. Equipment is defined as tangible personal property (including <br /> information technology systems) which has a useful life of more than one year and a <br /> per-unit acquisition cost which equals or exceeds$500.00.The records shall include: (1) <br /> a description (including model and serial number) of the property; (2) the date of <br /> acquisition; and (3) the acquisition cost (showing the percentage of the total costs paid <br /> out of this Grant.) Such equipment records are necessary for HUD recoding <br /> requirements. However,SUB-RECIPIENT acknowledges that this recording requirement <br /> does not indicate that the CITY will pay for equipment. The CITY does not provide funds <br /> for equipment purchases, including information technology systems. <br /> 3. Supply Records: A record shall be maintained for supplies purchased for the Program. <br /> Supplies include all tangible personal property other than equipment. Records for <br /> supplies shall be maintained for supplies which are acquired for the Program, for a cost <br /> equal or exceeding $200.00. The SUB-RECIPIENT shall also provide records showing a <br /> cost comparison for supplies purchased. Cost comparison records shall be made in <br /> 6 <br />