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, , <br /> III. REPORTING AND REIMBURSEMENT PROCEDURE <br /> A. Progress Reports <br /> Dove shall provide the City with quarterly progress reports and financial reports until the <br /> project is completed. Quarterly reports shall be submitted to the City by the tenth (lOth) <br /> working day of the succeeding calendar month. Quarterly reports shall include the status <br /> of the project, financial expenditures to date, any anticipated revisions to the project <br /> budget, and any other pertinent information. The City reserves the right to request <br /> additional information as necessary before processing reimbursement requests. <br /> Reimbursements will only be processed if Dove is current with submissions of quarterly <br /> reports. <br /> B. Reimbursement <br /> Reimbursements to Dove will be made upon receipt by the City of Pay Requests and all <br /> supporting documentation. Supporting documentation shall include invoices and/or <br /> receipts for payment, lien waivers, and final inspection reports on any work for which <br /> City permits and inspections are required. Dove shall submit pay requests to the City not <br /> more than once per month. <br /> The City will pay to Dove funds available under this contract,based upon information <br /> submitted by Dove and consistent with the approved budget as long as the expenses were <br /> incurred after the Notice to Proceed was issued. Payments will be made for expenses <br /> which are eligible under 24 CFR Part 92 and which are actually incurred by Dove, not to <br /> exceed actual cash requirements. In addition,the City reserves the right to reduce funds <br /> available under this contract for costs incurred by the City on behalf of Dove, as long as <br /> Dove is given sufficient notification of and explanation for this action. Costs incurred <br /> after the expiration of this contract will not be reimbursed. <br /> IV. ADMINISTRATIVE REQUIREMENTS <br /> A. Financial Management. <br /> 1. Dove shall maintain a proper financial management system to provide effective <br /> control over and accountability for all HOME funds. Dove shall maintain a proper <br /> accounting system as approved by HUD for HOME funds. Dove agrees to adhere to <br /> generally accepted accounting principles and procedures, utilize adequate internal <br /> controls, and maintain necessary source documentation for all costs incurred. Dove shall <br /> administer its program in conformance with OMB Circular A-122, "Cost Principles for <br /> Non-Profit Organizations,"and applicable provisions of 24 CFR Part 84, as outlined in <br /> 24 CFR 92.505(b). <br /> 2. Proper accounting shall be verified by an annual Certified Audit conducted by an <br /> independent, qualified certified public accountant. Results of the annual audit shall be <br /> submitted to the City within 6 months after the end of Dove's fiscal year. Any <br /> deficiencies noted in audit report which relate to the project funded under this written <br /> agreement must be fully cleared by Dove within 30 days after receipt by the City. Failure <br /> 2 <br />