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(16) Section 85.42, "Retention and access requirements for records," except that the period
<br />shall be four years;
<br />(17) Section 85.43, "Enforcement";
<br />(18) Section 85.44, "Termination for convenience";
<br />(19) Section 85.51, "Later disallowances and adjustments" and
<br />(20) Section 85.52, "Collection of amounts due."
<br />B. An Agency (subrecipient), except agencies that are governmental entities, shall comply with the
<br />requirements and standards of OMB Circular No, A-122, "Cost Principles for Non-profit Organizations"
<br />or OMB Circular No. A-21, "Cost Principles for Educational Institutions, as applicable, and OMB
<br />Circular A-133, "Audits of Institutions of Higher Education and Other Non-profit Institutions (as set forth
<br />in 24 CFR part 45). Audits shall be conducted annually. Such subrecipients shall also comply with the
<br />following provisions of Uniform Administrative requirements of OMB Circular No. A-110 (implemented
<br />at 24 CFR part 84, "Uniform Administrative Requirements for Grants and Agreements with Institutions
<br />of Higher Education, Hospitals and Other Non-profit Organizations") or the related CDBG provision as
<br />specified in this paragraph:
<br />(1) Subpart A — "General";
<br />(2) Subpart B — "Pre -Award Requirements," except for § 84.12, "Forms for Applying for
<br />Federal Assistance",-
<br />(3)
<br />ssistance";(3) Subpart C — "Post -Award Requirements," except for:
<br />(i) Section 84.22, "Payment Requirements." Grantees shall follow the standards of
<br />§§ 85.20 (b) (7) and 85.21 in making payments to subrecipients;
<br />(ii) Section 84.23, "Cost Sharing and Matching";
<br />(ill) Section 84,24, "Program Income." In lieu of § 84.24, CDBG subrecipients shall follow
<br />§ 570.504;
<br />(iv) Section 84.2.5, "Revision of Budget and Program Plans";
<br />(v) Section 84,32, "Real Property." In lieu of § 84.32, CDBG subrecipients shall follow
<br />570.505;
<br />(vi) Section 84.34(8), "Equipment." In lieu of the disposition provisions of § 84.34(g), the
<br />following applies:
<br />(A) In all cases in which equipment is sold, the proceeds shall be program income
<br />(prorated to reflect the extent to which CDBG funds were used to acquire the
<br />equipment); and
<br />(B) Equipment not needed by the subrecipient for CDBG activities shall be transferred
<br />to the recipient for the CDBG program or shall be retained after compensating the
<br />recipient;
<br />(vii) Section 84.51 (b), (c), (d), (e), (f), (g), and (h), "Monitoring and Reporting Program
<br />Performance";
<br />(viii) Section 84.52, "Financial Reporting";
<br />(ix) Section 84.53(b), "Retention and access requirements for records." Section 84.53(b)
<br />applies with the following exceptions:
<br />(A) See the retention period referenced in § 84.53(b) pertaining to individual CDBG
<br />activities; and
<br />(B) The retention period starts from the date of submission of the annual performance
<br />and evaluation report, as prescribed in 24 CFR 91.520, in which the specific
<br />activity is reported on for the final time rather than from the date of submission of
<br />the final expenditure report for the award;
<br />(x) Section 84.61, "Termination." In lieu of the provisions of §84.61, CDBG subrecipients
<br />shall comply with § 570.503(b)(7); and
<br />(4) Subpart D — "After -the -Award Requirements," except for §84.71, "Close-out Procedures,"
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