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In the event that any COOPERATING UNIT cannot commit, expend, <br /> • does not-apply or cannot qualify for a community development block grant, <br /> or a portion thereof, COUNTY will reallocate the unexpended or unallocated <br /> grant funds to a Countywide Discretionary account. The reallocation will <br /> include funds pursuant to Article IV paragraph A. 2. of this Agreement. <br /> COUNTY will retain ten (10) percent of all funds placed in the Countywide <br /> Discretionary Account to help defray the administrative costs associated <br /> with planning and administering the Countywide Discretionary reallocation <br /> process. <br /> COUNTY will inform each COOPERATING UNIT of the Countywide <br /> Discretionary account balance and will provide the opportunity to COOPERA- <br /> TING UNIT to make request for use of all or a portion of the funds. . <br /> VI. FINANCIAL MATTERS <br /> Reimbursement to the COOPERATING UNIT for expenditures for the <br /> implementation of activities funded under the Act shall be made upon <br /> receipt by the COUNTY of Summary of Project Disbursement form and Hennepin <br /> County Warrant Request, and supporting documentation. <br /> All funds received by COUNTY under the Act 'as reimbursement for <br /> payment to COOPERATING UNITS for expenditure of local funds for activities <br /> funded under the Act shall be deposited in the County Treasury. <br /> • COOPERATING UNIT and COUNTY shall maintain financial and other <br /> records and accounts in accordance with requirements of the'Act and <br /> Regulations. Such records and accounts will be in such form as to permit <br /> reports required of the COUNTY to be prepared therefrom and to .permit the <br /> tracing of grant funds and program income to final expenditure. <br /> COOPERATING UNIT and COUNTY agree to make available all records <br /> and accounts with respect to,matters covered by this Agreement at all <br /> reasonable times to their respective personnel and duly authorized federal <br /> officials. Such records shall be retained as provided by law, but in no <br /> event for a period of less than three years from the last receipt of <br /> program income resulting from activity implementation. COUNTY shall <br /> perform all audits of the basic grant amount and resulting program income <br /> as required under the Act and Regulations. Program income derived from <br /> activities funded in total or part from the basic grant amount received by <br /> COOPERATING UNIT shall be returned to COUNTY for inclusion in the <br /> Countywide Discretionary Account, except that income generated from <br /> approved revolving account activities dependent on- the return of said <br /> income, shall remain with the activity. <br /> 5 <br />