R94-116 AUTHORIZING AN AGREEMENT WITH THE UNITED STATE DEPARTMENT OF TRANPORTATION

Home Browse Search

i �, � (h} If the Recipient fails to adhere to the requirements of Part II, Subsections 107 b(1 )(a), (b), (c), (d), (e), or(� of this Agreement, the Government may revoke the portion _ of the Recipient's funds that has not been obligated. (2� Requisition. If the requisition method of payment is used, the Recipient agrees to: (a' Comp?et: and submit Standard Form 3881, "Payment Information Form - ACH Payment Vendor Payment System," to FTA's Accounting Division. (b) Complete and submit Standard Form 270, "Request for Advance or Reimbursement," to the designated FTA office. Upon receipt of a payment request and adequate accompanying information, the Government . will authorize paym�nt by direct deposit if the Recipient is complying with its obligations under this Agrzemenc, has satisfied the Gc�vernment that it needs the requested Federal funds during the requisition period, and is making adequate and timely progress toward Project completion. If all these circumstances are present, the Government may reimburse apparent allowable costs incurred 1 or to be incurred during the requisition period) by the Recipient up to the maximum amount of Federal funds payable through the fiscal year in which the requisition is submitted, as stated in the Project Budget. c. Allo��able Costs. The Recipient's expenditures will be reimbursed if they meet all requirements set forth below: ( l ► Conforrn with the Project Description and the Approved Project Budget and all other terms of this Agreemem: (�� Be necessary in order to accomplish the Project; (3� Be reasonable for the goods or services purchased; �4 i Be actual net costs to the Recipient {�.e., the price paid minus any refunds, rebates, or other �tems of�alue received by the Reci�ient that have the effect of reducing the eost actually incurred, excluding Program Income); (5) Be incurred (and be for work performed) after the date of this Agreement, unless specific authorization from the Government to the contrary is received; (6) Unless permitted otherwise by Federal statute or regulation, conform with Federal guidelines or regulations and Federal cost principles as set forth below: (a) For Recipients that are governmentat organizations, the standards of OMB Circular A-87, Re��ised, "Cost Principles for State and Local Governments" apply; (b) For Recipients that are institutions of higher education, the standards of OMB Circular A-2l, Revised, "Cost Principles for Educational Institutions" apply; Page 9