04-28-25-R - Laserfiche WebLink

Home Browse Search

Transit Financial Assistance Grant Agreement Regional Sales and Use Tax expenditure of the 50% advance payment of the Grant Award. The Council may deny part, or all of the submitted Grantee Invoice believed to be unwarranted or unjustified. E. The remaining 50% of the Grant Award will be disbursed on a reimbursement basis after satisfactory review and approval of the expenditure of the initial 50% advance payment and upon receipt of an Invoice or Invoices from the Grantee. F. Each Invoice must describe the eligible Project activities undertaken during the invoice period, itemize the expenditures for which reimbursement is requested, and identify the corresponding grant activity line. Each request must also include supporting documentation pursuant to Paragraph 4.01. G. Subject to verification of each Invoice (and the required documentation) and approval for consistency with this Agreement, the Council will disburse a requested amount to the Grantee within thirty-five (35) days after receipt of a properly completed and verified Invoice. The Council may deny part, or all of any reimbursement request believed to be unwarranted or unjustified. H. No reimbursement payment will be made, which would cause the disbursement of grant funds to exceed, cumulatively through such payment, the Grant Amount. I. Disbursement of any grant funds or approval of any report is not a Council waiver of any Grantee noncompliance with this Agreement. 3.03 Interest Earnings. If the Grantee earns any interest or other income from the grant funds received from the Council under this Agreement, the Grantee will use the interest earnings or income only for the purposes of implementing the Project activities described or identified in Exhibit A. 3.04 Loss of Grant Funds. The Grantee agrees to remit to the Council in a prompt manner: (1) any unspent grant funds, including any grant funds that are not expended prior to the Expiration Date identified on Page 1 of this Agreement; (2) any grant funds that are not used for the authorized purposes; (3) and any interest earnings described in Section 3.03 that are not used for the purposes of implementing the grant -funded Project activities described or identified in Exhibit A. For the purposes of this Agreement, grant funds are "expended" prior to the Expiration Date if the Grantee pays or is obligated to pay for expenses of eligible grant -funded Project activities that occurred prior to the Expiration Date and the eligible expenses were incurred prior to the Expiration Date. IV. ACCOUNTING AND RECORDKEEPING REQUIREMENTS 4.01 Accounting and Records. The Grantee agrees to establish and maintain accurate and complete accounts and records relating to the receipt and expenditure of all grant funds received 5 Approved by OGC 12/16/24