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for any fund, and cost category restrictions do not apply. <br />Neither budget approval, advance payments, reimbursement of <br />costs, nor acceptance of closeout documents by the LA, stops <br />the LA, the State, or the USDOL from later determining that <br />the costs were unallowable. <br />Program income not used in accordance with the requirements of <br />20 CFR 627.450 shall be returned to the Department of Labor. <br />Effective July 1, 1993 any interest earned on advances will be <br />considered program income and will be subject to the above <br />provisions. <br />I.T. System <br />The Contractor shall ensure all participant files are approved <br />and reviewed for accuracy prior to keying into the new I.T. <br />System by signing the Staffing Form which approves enrollment <br />into WIA and placed in the participant's file. <br />Rebekah Ropoza Management Analyst <br />Contractor's Name and Title <br />15. BONDING: <br />The WIA Contractor shall procure a fidelity bond for all <br />persons authorized to receive or disburse WIA funds and public <br />agencies shall procure a public employee's faithful <br />performance blanket bond. Non - governmental agencies shall <br />have a blanket fidelity position bond or an individual <br />fidelity bond. <br />The bond limit shall be at least the amount of compensation <br />specified in the contract or $50,000 whichever is less. No <br />payments authorized under this Contract shall be made to the <br />WIA Contractor until a copy of the bond has been furnished to <br />the LA. Submit a copy of the bond agreement. <br />16. MAINTENANCE OF RECORDS: <br />The WIA Contractor shall maintain all fiscal and program <br />records for periods required by federal regulations, but in no <br />event less than five years from the completion of services <br />under this Contract. Provided, should audit proceedings be <br />instituted concerning this Contract, the WIA Contractor shall <br />not destroy any records thereof until notified in writing that <br />such records are no longer needed. <br />All documents pertinent to WIA activity remain the sole <br />property of the LA and shall be transferred to the LA or the <br />State upon demand. A WIA Contractor who goes out of business <br />or is unable to retain records shall transfer these records to <br />the LA in an orderly fashion with each box labeled and in an <br />acceptable condition for storage. An inventory of the <br />contents of each box will be provided. <br />Local Workforce Area Contract Agreement Page 7 of 29 <br />Amended 7/14 <br />