CCP 08-28-2006 - Laserfiche WebLink

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TAX BASE REVITALIZATION ACCOUNT 2.04 Loss of Grant Funds. The Grantee agrees to remit to the Council in a prompt manner: any unspent grant funds, including any grant funds that are not cxpcnded prior to the End Date identified . at Page I of this Agrcemcnt; any grant funds that are not uscd for the authorized purposes; and any interest earnings described in Paragraph 2.06 that are not used for thc purposcs of implemcnting the project activitics described in Attachment A. For the purposes of this Agreement, grant funds arc "expcnded" prior to the End Date if the Grantec pays or is obligated to pay for expenses of eligible project activities that occurred prior to the End Date and thc cligible expenses wcrc incurred prior to the End Date. Unspent or unused grant funds and other funds rcmitted to the Council shall revert to the Council's Tax Base Revitalization Account for distribution through application proccsses in future Funding Cycles. 2.05 Payment Request Forms and Disbursements. The Council will disburse grant funds in response to written disbursement requests submitted by the Grantee and reviewcd and approved by the Council's authorized agcnl. Written disbursement requcsts shall be made using paymcnt request forms, the form and content of which will be dctcrmined by the Council. Payment request and othcr reporting ]()]111S are availahle onlinc at: http://www.metrocouncil.org/services/livcomm/LCAresources.htm. Disbursements prior to thc perionnance of a project acti'vity will be subject to ternlS and conditions mutually agreed to by thc Council's authorizcd agent and the Grantee. Subject to verification of cach payment request fonn and approval hlr consistency with this Agreemcnt, thc Council will disburse a requestcd amount to the Grantcc within two (2) weeks after reccipt of a propcrly completcd payment rcquest !<.mn. 2.06 Interest Earnings. If thc Grantee earns any interest or other incomc from the grant funds received from the Council under this Agreement, the Urantcc will use the intercst carnings or . income only for the purposes of implementing thc project activities describcd in Attachment A. 2.07 Effect of Grant. Issuancc of this grant ncither implies any Council rcsponsibility for the contamination at the Sitc nor imposes any ohligation on the Council to participate in the cleanup of thc Site contamination or in the Cleanup Costs bcyond the Grant Amount of this Agreement. III. ACCOUNTING, AUDIT AND REPORT REQUIREMENTS 3.01 Accounting and Records. The Grantee agrccs to establish and maintain accurate and completc accounts and records relating to the reccipt and expenditure of all grant funds received from the Council. Notwithstanding the expiration and termination provisions of Paragraphs 5.0] and 5.02, such accounts and records shall be kcpt and maintained by the Grantce for a period of six (6) years following thc completion of the project activitics dcscribed in Attachmcnt A or six (6) years f()lIowing the expenditurc of the grant funds, whichever occurs earlier. Accounting methods shall be in accordance with generally accepted accounting principles. 3.02 Audits. The above accounts and records of the Grantee shall bc audited in the same maimer as all other accounts and records of the Grantee arc audited and may be auditcd or inspected on the Grantee's premises or otherwise by individuals or organizations designated and authorized by the Council at any time, following reasonable notification to thc Grantee, lor a period of six (6) years f()llowing thc completion of the project activities or six (6) years following the expenditurc of the grant funds, whichever occurs carlier. Pursuant to Minnesota Statutes section 16C.05, subdivision 5, the books, records, documents and accounting procedures and practices of thc Grantee that are relevant to this Agreement are subject to examination by thc Council and either the Legislative Auditor or thc State Auditor, as appropriate, for a minimum of six (6) years. . Page 4 0/9 Pages ~