R93-87 AUTHORIZING AGREEMENT - HOME SUBRECIPIENT AGREEMENT

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, services, or schedule of the activities to be undertaken as part of this Agreement, such modifications will be incorporated only by written amendment signed by both the City and the Sub- recipient. 7 . ADMINISTRATIVE REQUIREMENTS A. Financial Manaaement 1. Accounting Standards ' The Subrecipient agrees to comply with Attachment F of OMB Circular A-110 and agrees to adhere to the accourit- ing principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred. 2 . Cost Principles The Subrecipient shall administer its program in confor- mance with OMB Circulars A-122, "Cost Principles for Non-Profit Organizations, " or A-21 "Cost Principles for Educational 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 Local Governments, "} for all cost incurred whether charges on a direct or in- direct basis. B. Documentation and Record-Keeping 1. Records to be Maintained �� The Subrecipient shall maintain all records required by �I the federal regulations specified in 24 CFR Part 92, and . �� that are pertinent to the activities to be funded under I� this Agreement. '� 2 . Retention The Subrecipient shall retain all records pertinent to expenditures incurred under this contract for a period of three (3) years after the termination of all ac- tivities funded under this Agreement, or after the resolution of all Federal audit findings, whichever oc- curs later. Records for non-expendable property ac- quired with funds under this contract shall be retained for three (3) years after final disposition of such property. Records for any displaced person must be kept for three (3) years after he/she has received final pay- ment. 5