1991 - 07-08-91 Regular Meeting - Laserfiche WebLink

Home Browse Search

aV 13 P~« 909® 3.5.7. In order to make corrections in the amount of payments, and in addition to all rights described in this Contract, the SDA may withhold reimbursement of costs on this Contract or other contracts between the SDA and the Contractor. The SDA may take recoupment actions and require repayment prior to exhaustion of appeal rights by the Contractor. 3.5.8. Neither budget approval nor reimbursement of costs by the SDA stops the SDA, the State, or United States Department of Labor from later determining that the costs were unallowable. 3.6. Recordkeeoing, Reporting and Accounting. 3.6.1. The Contractor shall use accounting and recordkeeping procedures that assure proper accounting of funds and permit accessibility in f monitoring, performance .evaluation and audit. The ;Contractor shall comply with applicable directives from the'SDA regardinef accounting and audit procedures under:this Contract and shall, in all:respecte,_comply with the Office..;of~ Management.:and:Budget circular applicable.to;the Contractor's organisational structure,. "except as permitted bythe'SDA. The Contractor shall submit: to the SDA.any documentation of ;4x3enoes incurred that the SDA deems appropriate at any time during the'"duration of the contract. 3.6.2. The Contractor shall prepare and file with the SDA on a timely basis such information and reports as the SDA, the State, or the United States Department of Labor may require. The Contractor shall immediately notify the SDA of all allegations of, information creating suspicions of or instances of criminal misconduct, fraud, or willful or gross misconduct in connection with the program or any administering agency. 3.6.3. All records maintained under this Contract shall be maintained for periods required by the federal regulations, but in no event lees than three years from the completion date in Paragraph 1.2. of this Contract. The SDA, the State, the United states Department of Labor, and the Comptroller General shall have access, for the purpose of review and copying, to all records of any type of the Contractor and its subcontractors with regard to funded activities. 3.7. Property 3.7.1. The contractor acknowledges that all nonexpendable property, that is, property with a useful life of more than one year and a unit price of $1,000.00 or more, purchased with funds received under this Contract or made available to the Contractor from the SDA for the State, is the sole property of the SDA. The SDA may transfer or relocate nonexpendable property hereunder in its discretion, subject to state and federal law. The Contractor may not transfer, relocate, or alter the use of any property hereunder without the prior written authorization of the SDA. The Contractor shall report any non-JTPA use of nonexpendable property. 3.7.2. The Contractor is responsible for the proper identification, inventory and maintenance of property under its control. The contractor will permit on-site inspections of all property by the SDA, the State, the United Statee_Department of Labor, or their designees.