R96-03 AUTHORIZING SUBRECIPIENT AGREEMENTS

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� . ,, 6. National Objectives The Subrecipient agrees to maintain documentation that demonstrates that the activities cazried out with funds provided under this contract meet one or more of the CDBG program's national objecrives - 1) benefit low/moderate income persons; 2) aid in the prevention ; or elimination of slum or blight; 3) meet community development needs havi.ng a particular � urgency- as defined in 24 CFR Part 570.208. 7. Close-Outs Subrecipient obligation to the City shall not end until all close-out requirements : aze completed. Activities during this close-out period shall include, but aze not limited to; 5 '� making finai payments, disposing of program assets (including the return of all unused materials, � equipment, unspent cash advances, program income balances, and receivable accounts to the ' City, and deterniining the custodianship of records. 8. Audits and Ins ecn tions ' All Subrecipient records with respect to any matters covered by this agreement shall be made available to the City, grantor agency,their designees or the Federal Government, at . any time during normal business hours, as often as the City or grantor agency deems necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Subrecipient within 30 days after receipt by the � Subrecipient Failure of the Subrecipient to comply with the above audit requirements will constitute a violation of this contract and may result in the withholding of future payments. The Subrecipient hereby agrees to have an annual agency audit conducted if funds received equal $ 25,000 or more. C. Re o 'ng n�d Payment Proced�res 1. Budgets The Subrecipient will adhere to the detailed contcact 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 budget from time to time as mutually agreed, only if it remains in conformance with City Council's wishes.