R96-03 AUTHORIZING SUBRECIPIENT AGREEMENTS

Home Browse Search

The City may also suspend or terminate this Agreement, in whole or in part, if the Subrecipient materially fails to comply with any term of this Agreement, or with any of the niles, regulations, or provisions referred herein; and the City may declaze the Subrecipient ineligible for any further participation in City contracts, 'in addition to other remedies provided by law. In the event there is probable cause to believe the Subrecipient is in noncompliance with any applicable rules or regulations,the City may withhold up to fifteen percent(15%)of said contract funds until such time as the Subrecipient is found to be in compliance by the City,or is otherwise adjudicated to be in compliance. VII. ADMINI A . F.O TTRRMENT A. Financial Management 1. Accotnting andards The Subrecipient agrees to comply with Attachment F of OMB Circular A-110 and agrees to adhere to the accounting principles and procedures required therein,utilize adequate � internal controls, and maintain necessary source documentation for all costs incurred. 2. Cost Princi�les , The Subrecipient sha11 administer its program in conformance with OMB Circulazs �, A-122, "Cost Principles for Non-Profit Organizations," or A-21 "Cost Principles for Educational I Institutions,: as applicable; {and if the Subrecipient is a governmental or quasi-governmental agency, the applicable sections of 24 CFR Part 85, "Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Loca1 Governments,"} for all cost incurred whether charges on a direct or indirect basis. B. DocLmPntation�nd Record-Kee�i� 1. Records to be M in 'ned - The Subrecipient shall maintain all records required by the federal regulations specified in 24 CFR Part 570.506, and that are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: a. Records providing a full description of each activity undertaken; b. Records demonstrating that each activity undertaken meets one of the National Objectives of the CDBG Program; c. Records required to determine the eligibility of activities; d. Records required to document the acquisition,improvement,use or disposition of real property acquired or improved with CDBG assistance;