4.6 SR 01-02-2024 - Laserfiche WebLink

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4. Insurance and Bonding. Grantee shall comply with the insurance and bonding requirements set forth in 2 CFR § 200.310 and 200.326. 5. Indirect Cost Rate. The Parties do not intend to reimburse indirect costs as part of the Grant. 6. Financial Management. a. Accounting Standards. Grantee agrees to comply with the financial management standards provided for in 2 CFR § 200.302(b) and agrees to adhere to the accounting principles and procedures required therein. b. Cost Principles. Grantee acknowledges that the cost principles provided for in 2 CFR § 200.400-416 apply to this Agreement and that Grantee's use of Grant Funds are limited to only those costs that are reasonable, allocable to the federal award (SLFRF) and otherwise in compliance with the cost principles. 7. Records to be Maintained; Access to Records; Reports. a. Records. Grantee shall maintain all records relating to its use of Grant Funds as required by 2 CFR § 200.334. Such records include, but are not limited to, records relating to all costs incurred and procurement methods used by Grantee in connection with the Grant Funds and any performance measurement information. The records must be retained for the minimum periods identified in 2 CFR § 200.334, unless a longer retention period is provided for in this Agreement. b. Access to Records. Pursuant to 2 CFR § 200.332(a)(5), Grantee shall permit the City and auditors to have access to the Grantee's records and financial statements as required for the City to meet its audit requirements relating to SLFRF. Reports. Grantee shall submit to the City such reports and other information as may be required by the City, including without limitation such reports and information as may be required for the City to submit its own financial and other reports for purposes of the Prime Award. d. Survival. The provisions of this section 6 shall survive expiration or termination of this Agreement with respect to any reports or information that Grantee is required to submit to the City following expiration or termination of the Agreement. 8. Closeout. The City and Grantee will closeout Grantee's use of SLFRF according to the closeout procedures in 2 CFR § 200.344-345. 9. Audits, Inspections and Monitoring. a. Audits. The Grantee must be audited as required by 2 CFR part 200, subpart F if the Grantee's total expenditure of federal awards will be more than the threshold set forth 2 CFR § 200.501 (currently $750,000) or as otherwise required by 2 CFR § 200.503. Grantee must notify the City if its total expenditure of federal awards will exceed the threshold in any year during the term of this Agreement. b. Inspections. Notwithstanding any audit requirement or exemption form the audit requirements, Grantee shall make available to the City and its auditors and to the U.S. Treasury and the Government Accountability Office the Grantee's records and financial statements. 229334d2