Agenda - Council - 08/13/1991 - Laserfiche WebLink

Home

III. in this agreement. No other use of grant funds is permitted. Grant and matching funds may be used only for the actual purchase price of the machinery or equipment plus freight and applicable taxes, and cannot be used to pay for other expenses associated with the project. 2.02 Unauthorized Uses of Grant Proceeds. Grant funds may not be used for installation or testing of machinery or equipment, site improvements, land or building purchases, or operating expenses. GRANT AMOUNT AND DISTRIBUTION 3.01 Total Grant Amo,nL The Council shall pay to the Grantee a total grant amount of $ 5.647.00 In no event will the Council's obligation under this agreement exceed the total grant amount, nor will the Council's obligation exceed fifty percent (50%) of the actual purchase price of the machinery or equipment plus freight plus applicable taxes. The Council shall bear no responsibility for cost overruns which may be incurred by thc Grantee in performance of the grant project. 3.02 Grantee's Match. Thc Grantee has an obligation under this grant agreement to share in the costs of the project by providing at least a fifty percent (50%) cash match. Accordingly, the Grantee agrees to provide a cash match of at least fifty percent (50%) of the actual purchase price of the machinery or equipment plus freight plus applicable taxes. 3.03 Distribution of Grant Funds. Within one (1) month after the Grantee places thc machineD' or equipment into use, the Grantee must deliver to the Council a request for payment of grant funds, accompanied by receipts, paid invoices, or other expenditure documentation requested by the Council, evidencing the Grantee's purchase of the machinery or equipment. Within fifteen (15) working days after authorized Council staff approve the Grantee's request and documentation, the Council shall distribute the grant funds to the Grantee. Reimbursement of an3, cost is not to be construed as a Council waiver of any Grantee noncompliance with this agreement. ACCOUNTING AND RECORD REQUIREMENTS 4.01 Documentation of Project Costs and Income. All costs charged to the grant project, whether paid with grant proceeds or with matching funds, must be supported by proper documentation, including properly executed payrolls, time records, invoices, contracts, or vouchers, evidencing in detail the nature and propriety of the charges. The Grantee shall also maintain records of any revenue resulting from performance of the grant project, which is received by the Grantee during the Project Activity Period. 4.02 Accounts and Records. The Grantee agrees to establish and maintain accurate, detailed, and complete separate accounts and records relating to the receipt and expenditure of all grant funds and cash matching funds required by this agreement, including all project documents, financial records, and supporting documentation. These project accounts and records shall be retained intact by the Grantee for at least three (3) years following the end of the Grant Period set forth in article VI, paragraph 6.02. These requirements shall survive closeout of the grant agreement. 4.03 Audit. The above accounts and records of the Grantee shall be audited in the same manner as all other accounts and records of the Grantee are audited, and may be audited, copied, or inspected on the Grantee's premises or otherwise by individuals or -2- I I I I ! I I I I I I