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DocuSign Envelope ID:63E81679-OC83-4B6C-B9E4-AFBB81985720 <br /> monetary claims that the Federal or State Government may have against the <br /> Subrecipient. <br /> i. Federal or State Claims, Excess Payments, Disallowed Costs, Including <br /> Interest. <br /> i. Subrecipient's Responsibility to Pay. Upon notification to the <br /> Subrecipient that specific amounts are owed to the Federal or State <br /> Government, whether for excess payments of Federal or State <br /> assistance, disallowed costs, or funds recovered from third parties or <br /> elsewhere, the Subrecipient agrees to remit to the Department promptly <br /> the amounts owed, including applicable interest and any penalties and <br /> administrative charges within 60 days of notification. <br /> ii. Interest Paid to the Department. The Subrecipient agrees to remit to the <br /> Department interest owed as determined in accordance with NCGS § <br /> 147-86.23. <br /> iii. Interest and Fees Paid on Federal Funds. For amounts owed by the <br /> Subrecipient to the Federal Government, whether for excess payments <br /> of Federal assistance, disallowed costs, or funds recovered from third <br /> parties or elsewhere, the Subrecipient agrees to remit to the Federal <br /> Government promptly the amounts owed, including applicable interest, <br /> penalties and administrative charges as established by the Federal <br /> Transit Authority Master Agreement with NCDOT. <br /> j. De-obligation of Funds. The Subrecipient agrees that the Department may de- <br /> obligate unexpended Federal and State funds for grants that are inactive for six <br /> months or more. <br /> k. Project Closeout. Project closeout occurs when the Department issues the final <br /> project payment or acknowledges that the Subrecipient has remitted the proper <br /> refund. The Subrecipient agrees that Project closeout by the Department does <br /> not invalidate any continuing requirements imposed by this Agreement. <br /> 7. Accounting Records <br /> a. Establishment and Maintenance of Accounting Records. The Subrecipient shall <br /> establish and maintain separate accounts for the public transportation program, <br /> either independently or within the existing accounting system. All costs charged <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 /> NCDOT PTD Federal Agreement Page 6 of 23 <br /> Revised 12/28/2018 <br />