R2021-02 Resolution Authorizing Accepting and Approval of Grant Agreement with Illinois Department of Commerce and Economic Opportunity (DCEO)

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Agreement No 20-488039 year end,as dictated in the applicable appendices,such as: (i) Appendix V and VII to 2 CFR Part 200 governs Indirect Cost Rate Proposals for state and local governments, (ii) Appendix III to 2 CFR Part 200 governs Indirect Cost Rate Proposals for public and private institutions of higher education, (iii) Appendix IV to 2 CFR Part 200 governs Indirect(F&A)Costs Identification and Assignment,and Rate Determination for Nonprofit Organizations,and (iv) Appendix V to Part 200 governs state/Local Governmentwide Central Service Cost Allocation Plans. (c) A Grantee who has a current,applicable rate negotiated by a cognizant federal agency shall provide to Grantor a copy of its Indirect Cost Rate acceptance letter from the federal government and a copy of all documentation regarding the allocation methodology for costs used to negotiate that rate,e.g.,without limitation,the cost policy statement or disclosure narrative statement. Grantor will accept that Indirect Cost Rate,up to any statutory,rule-based or programmatic limit. 7.3. Transfer of Costs.Cost transfers between Grants,whether as a means to compensate for cost overruns or for other reasons,are unallowable.See 2 CFR 200.451. 7.4. Higher Education Cost Principles.The federal cost principles that apply to public and private institutions of higher education are set forth in 2 CFR Part 200 Subpart E and Appendix III. 7.5. Government Cost Principles.The federal cost principles that apply to state,local and federally- recognized Indian tribal governments are set forth in 2 CFR Part 200 Subpart E,Appendix V,and Appendix VII. 7.6. Financial Management Standards.The financial management systems of Grantee must meet the following standards: (a) Accounting System.Grantee organizations must have an accounting system that provides accurate,current,and complete disclosure of all financial transactions related to each state-and federally-funded Program.Accounting records must contain information pertaining to state and federal pass-through awards,authorizations,obligations,unobligated balances,assets,outlays,and income. These records must be maintained on a current basis and balanced at least quarterly.Cash contributions to the Program from third parties must be accounted for in the general ledger with other Grant Funds. Third party in-kind(non-cash)contributions are not required to be recorded in the general ledger,but must be under accounting control,possibly through the use of a memorandum ledger. To comply with 2 CFR 200.305(b)(7)(i)and 30 ILCS 708/520,Grantee shall use reasonable efforts to ensure that funding streams are delineated within Grantee's accounting system.See 2 CFR 200.302. (b) Source Documentation.Accounting records must be supported by such source documentation as canceled checks,bank statements,invoices, paid bills,donor letters,time and attendance records,activity reports,travel reports,contractual and consultant agreements,and subaward documentation.All supporting documentation should be clearly identified with the Award and general ledger accounts which are to be charged or credited. (i) The documentation standards for salary charges to grants are prescribed by 2 CFR 200.430,and in the cost principles applicable to the entity's organization(Paragraphs 7.4 through 7.5). (ii) If records do not meet the standards in 2 CFR 200.430,then Grantor may notify Grantee in PART TWO.PART THREE or Exhibit G of the requirement to submit Personnel activity reports. See 2 CFR 200.430(1)(8). Personnel activity reports shall account on an after-the-fact basis for one hundred percent(100%)of the employee's actual time,separately indicating the time spent on the grant,other grants or projects,vacation or sick leave,and administrative time, State of Illinois INTER-GOVERNMENTAL GRANT AGREEMENT FISCAL YEAR 2021/2 2 20 Page 10 of 49