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1 � <br /> • D. It is the intent of this section that said planning allocation <br /> utilize the same basic elements for allocation of funds as are set , <br /> forth in 24 CFR 570.4. The COUNTY shall develop these ratios based <br /> upon data to be furnished by HUD. The COUNTY assumes no duty to <br /> gather such data independently and assumes no liability for any <br /> errors in the data furnished by HUD. <br /> VI . COUNTYWIDE DISCRETIONARY ACCOUNT <br /> A. In the event that any COOPERATING UNIT cannot commit, expend or does <br /> not request its planning allocation, or a portion thereof, pursuant <br /> to Section V of this Agreement, COUNTY will assign the unexpended or <br /> unallocated grant funds to the Countywide Discretionary Account. <br /> The assignment shall also include funds pursuant to Section IV <br /> paragraph A.2. of this Agreement. <br /> B. COUNTY will retain ten percent (10%) of all funds placed in the <br /> Countywide Discretionary Account to defray administrative expenses. <br /> C. COUNTY will , on or before March 1 of each year, inform each COOPER- <br /> ATING UNIT of the Countywide Discretionary Account balance and will <br /> provide each COOPERATING UNIT the opportunity to make a request for <br /> use of all or a portion of the funds. <br /> VII. FINANCIAL MATTERS <br /> • A. 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 <br /> Hennepin County Warrant Request, and supporting documentation. <br /> B. All funds received by COUNTY under the Act as reimbursement for <br /> payment to COOPERATING UNITS for expenditure of local funds for <br /> activities funded under the Act shall be deposited in the County <br /> Treasury. <br /> C. 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 <br /> permit reports required of the County to be prepared therefrom and <br /> to permit the tracing of grant funds and program income to final <br /> expenditure. <br /> D. COOPERATING UNIT and COUNTY agree to make available all records and <br /> accounts with respect to matters covered by this Agreement at all <br /> reasonable times to their respective personnel and duly authorized <br /> federal officials. Such records shall be retained as provided by <br /> law, but in no event for a period of less than three years from the <br /> last receipt of program income resulting from activity implementa- <br /> tion. COUNTY shall perform all audits of the basic grant amount and <br /> resulting program income as required under the Act and Regulations. <br />