R96-126 AUTHORIZING THE SUBMISSION OF AN APPLICATION

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Paee 9. Keep Illinois Beautiful Grant Agreement. portion to be terminated. Grantee shall not incur new obligations for the terminated portion after the efFective date of the termination, and shall cancel as many outstanding obligations as possible. The LTG shall allow full credit to Grantee for the LTG's share of the non-cancelable obligations properly incurred by Grantee prior to ternunation. 5. Workers Compensatio� and Unemplovment Insurance. Grantee shall provide Worker's Compensation insurance to the full extent required by law, and accepts full responsibility for the payment of unemployment insurance, premiums for Worker's Compensation, Social Security, and retirement and health insurance benefits, as well as all income tax deductions and any other taxes or payroll deductions required by law for Grantee's employees who are perfornvng services in connection with Program Activities. 6. �udit Requirements. Grantee shall be responsible for having an annual audit of all grant records and such audit must be performed by an independent public accountant, certified and licensed by authority of the State of Illinois. The audit must be conducted in accordance with generally accepted government auditing standard adopted by the American Institute of Certified Public Accountants (AICPA) (1981). Grantee may secure an independent audit of its grant records in the same manner as it secures its regular audits, provided it provides for ma�cimum open and free competition. The audit should be conducted as part of Grantee's annual audit. Grantee shall provide the LTG with one copy of any portion of its annual audit which pertains to records required to be audited under this Paragraph. In instances where the term of this Grant Agreement does not coincide with Grantee's fiscal year, multiple fiscal audit reports shall be forwarded to the LTG. 7. Maintenance and Inspection of Records. For a minimum of five years after the submission of the Final Performance Report required under Part II, Paragraph 5, or until all audit findings have been resolved, whichever is later, Grantee shall maintain adequate books, records, and supporting documents to verify the amounts, recipients, and uses of all disbursements of funds passing in conjunction with this Grant Agreement, and this Grant Agreement and all books, records, and supporting documents related to this Grant Agreement (hereinafter collectively referred to as "records") shall be available for inspection, review or audit by the LTG or the Auditor General. Grantee agrees to cooperate fully with any audit or other inspection of records conducted by the Commission, Comptroller General of the United States, LTG, Illinois Auditor General, or any independent auditors or representatives which any of the foregoing might designate, and to provide full access to all relevant materials. Grantee further agrees that the failure to maintain the records required under this Part shall establish a presumption in favor of the State for the recovery of any funds paid under this Grant Agreement for which adequate records are not available to support their purported use, obligation, or disbursement. If any litigation, claim, negotiation, audit or other action involving these records has been started before the expiration of three years after the submission of the Final Pertormance Report, the records must be retained until completion of the action and the resolution of all issues