R99-206 AUTHORIZING SUBRECIPIENT AGREEMENTS

Home Browse Search

C. Reportin� and Pavment Procedures 1. Budgets The Subrecipient will adhere to the detailed contract budget that was submitted with the application and attachment to the contract infers acceptance by the City. The City and the Subrecipient may agree to revise the budgec from time to time as mutually agreed, only if it remains in conformance with City Council's wishes. 2. Proeram Income The Subrecipient shall report quarterly all program income as defined by 24 CFR 570.�00(a) generated by activities carried out with CDBG funds made available under this contract. The use of program income by the Subrecipient shall comply with the requirements set forth by 2� CFR �70.�0�. By way of hu�ther limitations, the Subrecipient may use such income during the contract period for activities permitted under the contract and shall reduce request for additional funds by the amount of any such program income balances as reported the previous quarter. Any interest earned on cash advances from the U. S. Treasury is not pro�7ram income and shall be remitted promptly to the Cit�%. 3. Pavment Procedures The City will pay to the Subrecipient funds available under this contract based upon information submitted by the Subrecipient and consistent with any approved bud�et as long as they were incurred after the Notice to Proceed was issued, and within the fiscal year as noted above. Payments will be made for eligible e�cpenses actually incurred by the Subrecipient, and not to e�cceed actual cash requirements. In addition, the City reserves the ri�ht to liquidate funds available under this contract for costs incurred by the City on behalf of the.Subrecipient. 4. ProQress Reports The Subrecipient shall submit regular progress reports to the City in the form and content as provided by the City on a monthly basis. D. Procur�n«nt 1. Compliance -3-