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The WIA Contractor shall also prepare and file with the LA on <br /> a timely basis such information and reports as the LA, the <br /> State, or the USDOL may require. In addition, the WIA <br /> Contractor shall immediately notify the LA, the State, <br /> and the Secretary of the USDOL of all allegations of <br /> information creating suspicious or for instances of criminal <br /> misconduct, fraud, or willful or gross misconduct in <br /> connection with the program or the administering agency. <br /> Within forty-five (45) days after (a) completion or <br /> termination of this Contract, or (b) the expenditure of the <br /> maximum amount of funds provided hereunder, whichever comes <br /> first, the WIA Contractor shall submit to the LA a signed <br /> closeout statement containing such information as required by <br /> the LA. The WIA Contractor releases the LA from any <br /> obligation to pay any claim for costs incurred under the <br /> Contract that is not submitted with the closeout statement. <br /> Within the thirty (30) day closeout period, the WIA Contractor <br /> will reimburse to the LA any funds that had been received in <br /> excess of actual expenditures and any funds expended in excess <br /> of allowable amount in any budget line item. <br /> The filing of a petition in bankruptcy of insolvency by or <br /> against the WIA Contractor or the filing of any foreclosure <br /> action, eviction proceeding or litigation that could threaten <br /> the ability of the WIA Contractor or its subcontractor (s) to <br /> perform the duties hereunder shall be reported immediately to <br /> the LA and may be cause for suspension of payments or <br /> conditional continuation of funding, including conditional <br /> designation of an alternate administering agency for the WIA <br /> Contractor. <br /> The WIA Contractor shall not assign or transfer any interest <br /> in this Contract without the prior written approval of the LA. <br /> In order to make corrections in the amount of payments, and in <br /> addition to all rights described in this Contract, the LA may <br /> withhold reimbursement of costs between the LA and the WIA <br /> Contractor. The LA may take recoupment actions and require <br /> repayment prior to exhaustion of appeal rights by the WIA <br /> Contractor. <br /> Funds generated by activities funded under this Agreement, <br /> except for On-the-Job Training, is program income. Program <br /> income shall be calculated in the manner acceptable to the LA <br /> and in accordance with generally accepted accounting <br /> capabilities of the subrecipients that generate the program <br /> income, and program income shall be treated for all purposes <br /> as funds under this Agreement. The WIA Contractor is <br /> responsible for assuring that program income is reported as <br /> required by the LA and that adequate records to calculate <br /> program income are maintained. Program income must be used <br /> for purposes permissible under the Act or permissible at the <br /> time generated, whichever is least restrictive, and must be <br /> used prior to the submission of the final report for the <br /> funding period of the program year to which the earnings are <br /> attributed. Program income will not diminish the allocation <br /> Local Workforce Area Contract Agreement Page 6 of 29 <br /> Amended 7/14 <br />