09/23/1996 Council Packet - Laserfiche WebLink

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Comptroller General of the U.S. or their authorized agents, including• independent auditors, for as long as the records are retained for the purpose of audits, examinations, excerpts, and transcripts. Subgrantee must require its contractors to comply with this provision. Subgrantee must retain all records relating to this Subgrant for a period of three years after it submits its final expenditure report or until completion of any litigation, claim, negotiation, audit, or other action, whichever is later. Subgrantee must require its contractors to comply with this provision. 7. ENTIRE AGREEMENT This document including the Subgrantee's Oak Wilt Control Plan and approved Project Proposal and 1993 Grant Application Package constitute the entire Agreement between the parties. This Subgrant, except as stated herein, may not be amended except in writing by mutual agreement of the parties. 8. APPLICABILITY OF LAWS Subgrantee agrees to abide by all state and local laws applicable to this Agreement and agrees to fulfill all requirements of applicable Federal laws, executive orders, and their implementing regulations for federally funded projects, specifically 7 CFR part 3016. These include, but are not limited to: (a) Compliance with the Single Audit Act of 1984, 31 U.S.C. 7501- 7507 (Act). Audit requirements for Subgrantees who are units of government are contained in OMB Circular A-128. Subgrantee shall provide Grantor with one copy of any audit required by the Act. If corrective action is required as a result of the audit, Subgrantee agrees to furnish Grantee with a copy of the corrective action plan and agrees to take appropriate corrective action within six months after Subgrantee's receipt of the audit report. (Subgrantees who receive less than $25,000 in federal financial assistance from all sources during Subgrantee's fiscal year are generally not subject to a federal Audit requirement.) (7 CFR part 3016.26) (b) Minimization of the time elapsing between Subgrantee's receipt of funds from Grantor and their disbursement in accordance with U.S. Treasury Regulations, 31 CFR part 205. Subgrantees may not accrue more than $100 in interest on granted funds per year. Any excess must be promptly remitted to USFS. (7 CFR part 3016.21)