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i <br /> I <br /> i <br /> i <br /> i <br /> a . Establishment and Maintenance of Accounting Records . The Subrecipient shall i <br /> establish and maintain separate accounts for the public transportation program , <br /> I <br /> either independently or within the existing accounting system . All costs charged i <br /> to the program shall be in accordance with most current approved Project <br /> Budget and shall be reported to the Department in accordance with NCDOT <br /> Uniform Public Transportation Accounting System ( UPTAS ) guide . <br /> b . Documentation of Project Costs . All costs charged to the Project , including any <br /> approved services performed by the Subrecipient or others , shall be supported <br /> by properly executed payrolls , time records , invoices , contracts , or vouchers <br /> evidencing in detail the nature and propriety of the charges . i <br /> 8 . Reporting , Record Retention , and Access <br /> II <br /> i <br /> a . Progress Reports , The Subreci lent shall advise the Department , through EBS g p p p g , <br /> regarding the progress of the Project at a minimum quarterly , and at such time <br /> and in such a manner as the Department may require . Such reporting and <br /> documentation may include , but not be limited to : operating statistics , <br /> equipment usage , meetings , progress reports , and monthly performance <br /> reports . The Subrecipient shall collect and submit to the Department such <br /> financial statements , data , records , contracts , and other documents related to <br /> the Project as may be deemed necessary by the Department . Reports shall <br /> include narrative and financial statements of sufficient substance to be in <br /> conformance with the reporting requirements of the Department . Progress <br /> reports throughout the useful life of the project equipment shall be used , in part , <br /> to document utilization of the project equipment . Failure to fully utilize the <br /> project equipment in the manner directed by the Department shall constitute a <br /> breach of contract , and after written notification by the Department , may result <br /> in termination of the Agreement or any such remedy as the Department deems <br /> appropriate . <br /> b . Failure to comply with grant reporting and compliance guidelines set forth in <br /> the NCDOT PTD State Management Plan could result in financial penalties up <br /> to and including loss of current and future grant funding . <br /> c . Record Retention . The Subrecipient and its third party subrecipients shall retain <br /> all records pertaining to this Project for a period of five ( 5 ) years from the date <br /> of final payment to the Subrecipient , or until all audit exceptions have been <br /> resolved , whichever is longer . <br /> d . Project Closeout . The Subrecipient agrees that Project closeout does not alter <br /> the reporting and record retention requirements of this Agreement . <br /> e . State Auditor Oversight . The Subrecipient agrees to audit oversight by the <br /> Office of the State Auditor , to provide the Office of the State Auditor with access <br /> to accounting records , and to make available any audit work papers in the <br /> possession of any auditor of the Subrecipient . <br /> NCDOT PTD Federal Agreement Page 7 of 23 <br /> Revised 6/28/2018 <br />