R2014-116 EXECUTION OF PUBLIC TRANSPORTATION CAPITAL ASSISTANCE GRANT AGREEMENT

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CAP-14-1034-ILL, Contract No. 4464 All Project Funds held by the Grantee over one (1) month shall draw interest and the amount of such interest earned shall be reported to the Department in the quarterly Project Account report. Such interest shall be applied to the Net Project Cost as directed by the Department. C. Eligible Costs - Expenditures made by the Grantee shall be reimbursable as eligible costs to the extent they meet all of the requirements set forth below. They must: (1) be made in conformance with the Grantee's final approved application and the Approved Project Budget and all other provisions of this Agreement; (2) be necessary in order to accomplish the Project; (3) be reasonable in amount for the goods or services purchased; (4) be actual net costs to the Grantee (i.e., the price paid minus any refunds, rebates, or other items of value received by the Grantee that have the effect of reducing the cost actually incurred); (5) be incurred (and be for work performed) after the date of this Agreement, unless specific written authorization from the Department to the contrary is received in writing; (6) be in conformance with the standards for allowability of costs established by the Department; (7) be satisfactorily documented; (8) be treated uniformly and consistently under accounting principles and procedures approved or prescribed by the Department for the Grantee; and those approved or prescribed by the Grantee for its contractors; and (9) be eligible support and supervisory costs, but only for grantees for whom the Department has approved such costs. Such support and supervisory costs mean those supervisory costs allocated to the capital project based on an approved cost allocation plan and support services costs. Provided however, that the Department will not consider for approval a cost allocation plan that has not been approved by either the Federal Transit Administration or the Grantee's cognizant federal agency; and, provided further, that the support costs shall not exceed two (2) percent of the amount of any grant for the purchase of rolling stock and six(6) percent of the amount of any grant for all other types of capital projects. (10) not be expenditures incurred by the Grantee which exceed the amount budgeted for a specific project line item (i.e. project element,job order or item) unless, at the time of completion of the project line item, those expenditures meet all of the requirements below: (a) Justification satisfactory to the Department is provided to explain the reason for the overexpenditure and why that overexpenditure was not anticipated prior to exceeding the budget for the project line item; (b) The budget for the project line item covers the full scope of the project line item, i.e., the budget of the project line item is intended to be adequate for the completion of the State Capital Grant Page 12