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44 <br /> associated with generating program income revenue shall be charged as expenditures <br /> to the ARP/CSLFRF award. <br /> (b) Program Income Earned After the Period of Performance. Orange County shall have no <br /> obligation to report program income earned after the period of performance (December <br /> 31, 2026). However, Orange County shall report program income expended after the <br /> period of performance if that program income was earned on or before December 31, <br /> 2026. <br /> (c) Subawards. Orange County agrees to ensure that any subrecipient of ARP/CSLFRF funds <br /> abides by the award of the terms and conditions of this policy and is aware that the <br /> subrecipient is responsible for accounting for and reporting program income to Orange <br /> County on a regular basis (i.e. quarterly, annual, or other) as designated in the <br /> agreement with the subrecipient. <br /> (d) Compliance with State law. Program income shall not be expended for purposes <br /> prohibited under State or local law. <br /> (e) Subject to Audit. Orange County recognizes that its use of program income may be <br /> audited and reviewed for compliance with Federal laws and regulations, State law, and <br /> the terms of the ARP/CSLFRF award. <br /> VIII. IMPLEMENTATION OF POLICY <br /> The Chief Financial Officer will adopt procedures to identify potential program income during <br /> the project eligibility and allowable cost review, document actual program income, and follow <br /> the requirements in this policy related to the treatment of program income. <br /> 5 <br />