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<br />' � Federal assistance, disallowed costs, or funds recovered from third parties or elsewhere, the
<br />Grantee agrees to remit ' o the Federal Government promptly the amounts owed, including
<br />applicable intareat,,pena|tienand administrative charges.
<br />/3\ Payment to FTA. Upon receipt of repayment from the Grantee, the Department shall be
<br />responsible to remit amounts owed to FTA.
<br />Funds. De-obligation of The Grantee agrees that the Department may de-obligate unexpended
<br />Federal and State funds before Project c[oseouf.
<br />Section �' Accounting Records.
<br />o. Establishment and Maintenance of Accounting Records. The Grantee shall establish and maintain
<br />separate accounts for the public transportation program, either independently or within the existing
<br />accounting system. All costs charged to the program shall be in accordance with most current
<br />approved Annual Budget and shall be reported to the Department in accordance with UPTAS.
<br />_ . Documentation of Project Costs. All costs charged to the Project, including any approved services
<br />performed by the Grantee or others, shall be supported by properly executed payrolls, time records,
<br />invoices, ooOtn9ota, or vouchers eVidenning in detail the nmtu' na and propriety of the charges, as
<br />referenced in 2 C.F.R. 200` "Uniform Administrative Requirements, Cost Principles, and Audit
<br />Requirements for Federal Awards"
<br />C. Allowable Costs,. Expenditures made by the Grantee shall bereimbursed ao allowable costs tothe
<br />extent they meet all of the requirements set forth below. They must be:
<br />(1) CnOeistenf� with the Project Description, p|ane, specifications, and Project Budget and e||,
<br />other provisions of this Agreement;
<br />(2) Necessary in order to accomplish the Project;
<br />/3\ Reasonable in amount for the goods or services purchased;
<br />(4) Actual net costs to the Granfeo, i.e., the price paid minus any refunds (e.g., refundable sales
<br />and use taxes pursuant tVN.C.G.S. 1O5-164.14}. rebates, or other items of value received
<br />by the Grantee that have the effect of re dUoinQ the cost actually incurred;
<br />/5> Incurred (and bo for vvmrkpe� within
<br />of this Agreement unless specific authorization from the Department to the contrary is
<br />received;
<br />KB Satisfactorily documented;
<br />(7) Treated uniformly and consistently under accounting principles and procedures approved or
<br />prescribed bv the Department; and
<br />(8) In compliance with U.G. [)[]T regulations pertaining to m||ovvab|e costs in 2 C�FR. 200.
<br />Subpart E, "Uniform Administrative Requirements, Cost Principles, and Audit Requirements
<br />for Federal Awards", and FAR' at 48 C.F.R., Subpart 31.2. "Contracts with Commercial
<br />organizations" applies to Project costs incurred by a Recipient that is a for-profif organization.
<br />Section 9. Reporting, Record Retention, and Access.
<br />a. . Reports* The Gra ' ntee shall advise the Department regarding the progress of the Project at a
<br />minimum quarterly, and at such time and in such a manner as the Department may require. Such
<br />reporting and documentation may include, but not be limited to: operating , statistics, equipment
<br />usage, meetings, progress reports, and monthly performance reports. The Grantee shall collect
<br />and submit to the Department such financial statements, data, records, contracts, and other
<br />documents related to the Project as maybe deemed necessary by the Department. Reportsshall
<br />include narrative and financial statements of sufficient substance to be in conformefnce with the
<br />reporting requirements of the Department. reports throughout the useful life of the project
<br />equipment shall be used, in part to document utilization of the project nqUipnnent. Foi|uretofully
<br />u�|izethe project equipmentinthennaOnerdirectedbythnDapadnnentsha||cVDet�uteabnaachof
<br />contract, and after written notification by the Department, may result in termination of the
<br />Agreement or any such remedy aa the Department deems appropriate.
<br />Non-Governmental Grantees:
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