Orange County NC Website
15 <br /> • 2. If after the completion of the final audit by the Department, the final <br /> State share of approved eligible items is less than the amount of State <br /> funds actually disbursed for the Project, the Sponsor shall reimburse the <br /> Department in an amount equal to the difference between the amount of State <br /> funds actually disbursed and fifty percent (50%) of the non-federal share <br /> of the final, audited, approved eligible-Project costs within thirty (30) <br /> days of notification by the Department of the amount due. <br /> 3. If after completion of.a final audit by the Department, the final State <br /> share of approved eligible Project costs shall be more than the amount of <br /> State funds obligated for the Project, the Sponsor may make application to <br /> the Department for a corresponding increase in accordance with their <br /> relative priority versus other applications for available State funds. <br /> 4. Under certain conditions, projects originally involving only State and <br /> local funds may subsequently be eligible for reimbursement from federal <br /> funding agencies. In such cases, the Sponsor shall notify the.Department of <br /> its intent to apply for federal reimbursement and shall keep the Department <br /> informed of the status of such application. In the event federal funds are <br /> obtained for all or a portion of the project, the Sponsor shall refund to <br /> the Department an amount equal to the difference between State funds <br /> originally disbursed for the work item(s) subsequently receiving federal <br /> funds and fifty percent (50%) of the final approved non-federal share of <br /> the costs of the affected item(s) of work. Reimbursement will be made <br /> • within ninety (90) days of the date of the final execution of the FAA <br /> Grant Agreement affecting the work elements in the approved project. <br /> 5. For the purposes of calculating the State share of a Project, federal <br /> funds are defined as funds provided by any agency of the federal government <br /> for the specific purpose of undertaking the Project. <br /> DOA Form 12/85 ATTACHMENT D Page 2 of 2 <br />