R2021-53 Resolution Authorizing Subrecipient Agreement Extension for Adult Education Training Program Project READ

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income the CITY.Said remittance shall be submitted annually and accompany the Final Report. SUB-RECIPIENT acknowledges that interest earned on advances of Federal funds, rebates, credits and discounts do not count as program income. All Program income generated by CDBG funded activities is to be returned to the CITY. XXII. RETURN OF UNEXPENDED FUNDS: SUB-RECIPIENT agrees to return to the CITY any and all unexpended and/or encumbered grant funds upon the completion or termination of the Program: a. If the work program cannot be completed, or if the SUB-RECIPIENT ceases to function as an operating entity, SUB-RECIPIENT agrees to return to the CITY any and all unexpended and/or encumbered grant funds. b. Within thirty (30) days after the closing date of this Agreement, the SUB- RECIPIENT shall submit to the CITY expenditure reports and documentation of all expenses or encumbrances during the time period covered by this Agreement. The CITY will then compare these expenditures with the amount of disbursements issues to the SUB-RECIPIENT by the CITY. Disbursement of any final payment, if any, under the Agreement shall not be made until such a comparison has been completed to the CITY's satisfaction. L If said expenditures and encumbrances are greater than the disbursements made to the SUB-RECIPIENT, the CITY will issue a check to the SUB-RECIPIENT for an amount equal to this difference, up to the amount of the authorized grant set forth in this Agreement. ii. If said expenditures and encumbrances are less than the disbursements, the CITY shall withhold the difference from any final payment to the SUB- RECIPIENT. If after withholding any such difference, the expenditure and encumbrances are still less than the disbursements, the SUB-RECIPIENT shall promptly pay to the CITY a check for the difference of these sums. iii. Funds paid to the SUB-RECIPIENT in excess of the amount to which the SUB-RECIPIENT is finally determines to be entitled constitute a debt to the CITY. If not paid as stipulated in the preceding paragraphs, the CITY may take other action permitted by law. iv. A final adjustment will be made to reconcile with the completed audit or Final Grant Report of CDBG expenditures within thirty (30) days of the submission of audit to the CITY.Subsequent grant payments or awards will be withheld until audit or grant report is completed for the current year. Only the City Manager or Interim Director of Community Development can release funds if audit or grant report is not reconciled. 15