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GRANT CONTRACT NO 4119 <br /> accounting must be attested to by the Grantee fiscal officer and one other authorizing officer of <br /> the Grantee. This accounting must be filed with each funding state agency within six months <br /> after the end of the Grantee's operating year. If the Grantee receives STATE funds of <br /> $500,000 or more during its fiscal year, it must file with the State Auditor and each funding <br /> agency its audited financial statements in accordance with the standards and formats <br /> prescribed by the State Auditor in Memorandum NGO-2 "Grantee Audit Reports." If the <br /> Grantee receives $500,000 or more in FEDERAL awards during its fiscal year from any source, <br /> including federal funds passed through the State or other grantors, it must obtain a single audit <br /> or program-specific audit conducted in accordance with the Federal Office of Management and <br /> Budget's Circular A-133 "Audits of States, Local Government and Non-Profit Organizations." If <br /> the above amounts are not met by one single funding agency, but rather any combination of <br /> funding agencies, then the appropriate reports shall be sent to the Office of the State Auditor <br /> and to the Agency. Also, a corrective action plan for any audit findings and recommendations <br /> must be submitted along with the audit report or within the period specified by the applicable <br /> OMB Circular or Memorandum. <br /> 10. Payment Provisions: <br /> The Agency reimburses the Grantee for actual allowable expenditures with the Agency retaining a <br /> minimum of ten percent (10%) of the Agency's funds until all required activities are completed and <br /> reports/deliverables are received and accepted by the Agency. An allowable expenditure is <br /> defined as one associated with work performed to meet the milestones that have been addressed <br /> during the specific reporting period. The Agency may withhold payment on invoices when the <br /> Grantee fails to accomplish the milestones stated in Attachment C. <br /> 11. Invoices: The Grantee submits invoices to the Agency Contract Administrator as needed. The <br /> final invoice must be received by the Agency within 45 days after the end of the contract period. <br /> Amended or corrected invoices must be received by the Agency's Office of the Controller within six <br /> months after the end of the contract period. The Agency will not pay any invoice received more <br /> than 6 months after the end of the effective period. <br /> 12. Contract Administrators: Each Party submits notices, questions and correspondence to the <br /> other Party's Contract Administrator. The name, address, telephone number, fax number, and <br /> email address of the Parties' initial Contract Administrators are set out below. Either Party may <br /> change the name, address, telephone number, fax number, or email address of its Contract <br /> Administrator or Principal Investigator or Key Personnel by giving timely written notice to the other <br /> Party. <br /> Any changes in the scope of the contract which increase or decrease the Grantee's compensation <br /> are not effective until approved in writing by the Agency's Head or Authorized Agent. <br /> Page 3 of 7 <br />