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DocuSign Envelope ID:63E81679-OC83-4B6C-B9E4-AFBB81985720 <br /> agreement fiscal year by January 31 or the last two quarters by July 31 <br /> will forfeit its ability to receive reimbursement for those periods. <br /> iii. All payments issued by the Department will be on a reimbursable basis <br /> unless the Subrecipient requests and the Department approves an <br /> advance payment. <br /> iv. Supporting documentation for proof of payment may be requested. <br /> c. Subrecipient Funds. Prior to reimbursement, the Subrecipient shall provide the <br /> Department with proof that the Subrecipient has met its proportionate share of <br /> project costs from sources other than FTA or the Department. Any costs for <br /> work not eligible for Federal and State participation shall be financed one <br /> hundred percent (100%) by the Subrecipient. <br /> d. Operating Expenditures. In order to assist in financing the operating costs of <br /> the project, the Department shall reimburse the Subrecipient for the lesser of <br /> the following when providing operating assistance: <br /> i. The balance of unrecovered operating expenditures after deducting all <br /> farebox revenue, or <br /> ii. The percentage specified in the Approved Project Budget of the <br /> allowable total operating expenditures which shall be determined by <br /> available funding. <br /> e. Travel Expenditures. The Subrecipient shall limit reimbursement for meals, <br /> lodging and travel to rates established by the State of North Carolina Travel <br /> Policy. Costs incurred by the Subrecipient in excess of these rates shall be <br /> borne by the Subrecipient. <br /> f. Allowable Costs. Expenditures made by the Subrecipient shall be reimbursed <br /> as allowable costs to the extent they meet all of the requirements set forth <br /> below. They must be: <br /> i. Consistent with the Project Description, plans, specifications, and <br /> Project Budget and all other provisions of this Agreement <br /> ii. Necessary in order to accomplish the Project <br /> iii. Reasonable in amount for the goods or services purchased <br /> iv. Actual net costs to the Subrecipient, i.e., the price paid minus any <br /> refunds (eg, refundable sales and use taxes pursuant to NCGS 105- <br /> 164.14), rebates, or other items of value received by the Subrecipient <br /> that have the effect of reducing the cost actually incurred <br /> NCDOT PTD Federal Agreement Page 4 of 23 <br /> Revised 12/28/2018 <br />