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,� a <br /> in a manner consistent with 49 C.F.R. § 18.20, or OMB Circular A-110, Revised, whichever is <br /> applicable. <br /> b. Funds Received or Made Available for the Pro�ect. Consistent with the provisions of <br /> 49 C.F.R. § 18.21, or OMB Circular A-110, Revised, whichever is applicable, the Recipient <br /> agrees to recard in the Project Account, and deposit in a financial institution all Project <br /> payments Tece����e�i �y it fram the Government pursuant to this A.greement and all other funds <br /> provided for, ac�ruing to, ar otherwise receiv� �n account of the Project (Project Funds). The <br /> Recipient is encouragec�to use finaacial institutinns owmcd at teast 50 percent by minority group <br /> member�. <br /> c. DQcumentation of Project Costs and Program Income. All costs charged to the Project, <br /> including any approved services contributed by the Recipient or others, shall be supported by <br /> properl`� executed payrolls, time records,invoices, contracts, or vouchers describing in detail the <br /> nature and propriety of the c�arges. The Recipient also agrees to m�aintain accurate records of <br /> all Program Income derived from Project implementation; this requirement, however, does not <br /> appl�� to income of the Recipient that is deteimined by the Government to be private. <br /> d. Checks. Orders, and �1'ouchers. The Reeipient agrees to refrain from drawing checks or <br /> orders for goods or services to be charged against the Project Account until it has on file in its <br /> office a properl�� srgned voucher describing in proper detail the purpose of the expenditure. The <br /> Recipienc agrees ti�at a1t checks, payrolls, invoices, contracts, vouchers, orders, or other <br /> accounting documents pertaining in whole or in part to the Project shall be clearly idenrified, <br /> readily accessible, and, to the extent feasible, kept separate from documents not pertaining to the <br /> Project. <br /> Section I06. Record Retention. <br /> a. Submission of Proceedings. Contracts. and Other pocuments. During the course of the <br /> Project and for three years thereafter, the Recipient agrees to retain intact and to provide any . <br /> data, documents. reports, records, contracts, and supporting materials relating to the Project as <br /> the Governn�ent may require. Reporting and record-keeping requirements for governmental <br /> recipients are set forth in 49 C.F.R. Part 18. Reporting and record-keeping requirements for . <br /> private nonprofit and for-profit recipients, are set forth in ONiB Circular A-110. Project <br /> closeout does not alter these requirements. <br /> b. Audit and Inspection. <br /> (1) General Audit Requirements. A Recipient that is a State, local government or Indian <br /> tribal government agrees to comply with the audit requirements of 49 C.F.R. § 18.26 and OMB <br /> Circular A-128, and any revision or supplement thereto. A Recipient that is an institurion of <br /> higher education or nonprofit organization agrees to comply with the audit requirements of <br /> OMB Circular A-110, Revised, and OMB Circular A-133, and any revision or supplement <br /> thereto. A Recipient that is a private for-profit organization agrees to comply with the audit <br /> requirements of OMB Circular A-133. The Government may waive the OMB Circular A-128 <br /> Page 6 <br />