R2016-122 FY 2017 Transit Operating Assistance Grant Agreement with IDOT

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Agreement No.4724 as may be authorized by Grantor(including auditors), by the State of Illinois or by Federal statute.Grantee shall cooperate fully in any such audit. 12.3. Failure to Maintain Books and Records. Failure to maintain books,records and supporting documentation,as described in this ARTICLE XII,shall establish a presumption in favor of the State for the recovery of any funds paid by the State under this Agreement for which adequate books,records and supporting documentation are not available to support disbursement. 12.4. Monitoring and Access to Information.Grantee must monitor its activities to assure compliance with applicable State and Federal requirements and to assure its performance expectations are being achieved. Grantor shall monitor the activities of Grantee to assure compliance with all requirements and performance expectations of the award. Grantee shall timely submit all financial and performance reports,and shall supply, upon Grantor's request,documents and information relevant to the Award. Grantor may make site visits as warranted by program needs. See 2 CFR 200.328 and 200.331. Additional monitoring requirements may be in PART TWO or PART THREE. ARTICLE XIII FINANCIAL REPORTING REQUIREMENTS 13.1. Required Periodic Financial Reports.Grantee agrees to submit financial reports as requested and in the format required by Grantor.Grantee shall file quarterly reports with Grantor describing the expenditure(s) of the funds related thereto, unless more frequent reporting is required by the Grantee pursuant to specific award conditions. 2 CFR 200.207. The first of such reports shall cover the first three months after the Award begins. Quarterly reports must be submitted no later than 30 calendar days following the three month period covered by the report.Additional information regarding required financial reports may be set forth in Exhibit H. Failure to submit the required financial reports may cause a delay or suspension of funding. 30 ILCS 705/1 et seq.;2 CFR 207(b)(3)and 200.327. 13.2. Close-out Reports. (a) Grantee shall submit a Close-out Report within 60 calendar days following the end of the period of performance for this Agreement. In the event that this Agreement is terminated prior to the end of the Term,Grantee shall submit a Close-out Report within 60 calendar days of such termination. The format of this Close-out Report shall follow a format prescribed by Grantor.2 CFR 200.343. (b) If an audit or review of Grantee occurs and results in adjustments after Grantee submits a Close-out Report,Grantee will submit a new Close-out Report based on audit adjustments,and immediately submit a refund to Grantor,if applicable. 2 CFR 200.344. 13.3. Annual Financial Reports. (a) This Paragraph 13.3 applies to all Grantees,unless exempted by PART TWO or PART THREE. (b) Grantees shall submit Annual Financial Reports within 180 days after the Grantee's fiscal year ending on or after June 30. This deadline may be extended at the discretion of the Grantor. (c) The Annual Financial Report must cover the same period the Audited Financial State of Illinois GRANT AGREEMENT FISCAL YEAR 2017/3 28 16 Page 15 of 46