03-22-2000 Council Agenda - Laserfiche WebLink

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The AGENCY agrees to participate with the AUTHORITY in any evaluation project or performance report, as designed by the AUTHORITY or the appropriate federal agency, and to make available all information required by any such evaluation process. 2. AUDITS AND INSPECTIONS The records and documents with respect to all matters covered by this contract shall be subject at all times to inspection, review or audit by the AUTHORITY, federal or state officials so authorized by law during the performance of this contract during the period of retention specified in this Part III. The AGENCY, regardless of the amount of funds received from the AUTHORITY, shall obtain at its own expense an annual certified financial and compliance audit. All audits shall be submitted to the AUTHORITY within six months of the close of the AGENCY's fiscal year and shall be prepared by an independent auditor who meets the independence standards specified in the General Accounting Office's yellow book, "Government Auditing Standards ". The AGENCY shall submit a copy of the annual financial audited statements with the management compliance letter and the recipients response to the management letter, to the Director of Community Development within six months of the end of the AGENCY'S fiscal year. 3. RECORDS As required by H.U.D. Regulations, 24 C.F.R. Part 570, the AGENCY shall compile and maintain the following records: A. Financial Management. Such records shall identify adequately the source and application of funds for activities within this Agreement, in accordance with the provisions of U.S. Office of Management and Budget Circular A -102. These records shall contain information pertaining to grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays, and income. B. Citizen Participation. Narrative and other documentation describing the process used to inform citizens concerning the amount of funds available, the ranges of project activities undertaken, and opportunities to participate in funded block grant projects. C. Relocation. Indication of the overall status of the relocation workload and a separate relocation record for each person, business, organization, and farm operation displaced or in the relocation workload. Page 137 Little Canada Sub -rccip agreement (14008)