11-30-2022 Council Packet - Laserfiche WebLink

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3 Grantee is also required to designate one or more representatives who will be authorized to sign the monthly Beneficiary Reporting and Reimbursement Forms. The names of the liaison persons and representatives must be specified in the exhibits. B. For all agencies which are presently parties to Joint Cooperation Agreements with the Authority covering planning, distribution of funds, and program execution under the Act, Grantee remains subject to the provisions of such agreement. Section 1.6 Compensation and Method of Payment. A. The Authority will reimburse Grantee for the work or services specified in the Application in an amount not to exceed $506,086.00. Reimbursement will be based on a Beneficiary Reporting and Reimbursement Forms submitted with supporting documents and signed by Grantee’s authorized representative. B. Grantee is required to submit a properly executed Beneficiary Reporting and Reimbursement Forms no later than fifteen (15) business days after the close of each billing period. The Authority will make payment to Grantee not more than twenty-one (21) business days after said invoice is received and approved by the Authority. The Authority will issue a statement of correction voucher in the event that the Beneficiary Reporting and Reimbursement Forms is erroneous. Payment does not constitute absolute approval. Section 1.7 Operating Budget. Grantee is required to apply the funds received from the Authority under this Grant Agreement in accordance with the financial information provided in the Grant Application. Section 1.8 Funding Alternatives and Future Support. A. Grantee is required to report all Program Income generated under this Grant Agreement or generated through the project(s) funded under this Granted Agreement. In the event Grantee receives any Program Income it must, in the sole discretion of, and at the direction of at the Authority, either utilize it solely for the purposes set forth in this Grant Agreement or return it to the Authority. At the end of the program year the Authority may require remittance of all or part of any program income balances (including investments of such program income balances) held by Grantee (except those needed for immediate cash needs, cash balances of a revolving loan fund, or cash balances from a lump sum drawdown.). B. The Authority makes no commitment to future support and assumes no obligation for future support of the activities contracted for in this Grant Agreement, except as expressly set forth in this Grant Agreement. C. Should anticipated sources of revenue not become available to the Authority for use in the Community Development Block Grant Program, the Authority will immediately notify Grantee in writing and the Authority will be released from all contracted liability for that portion of this Grant Agreement covered by funds not received by the Authority.