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AG 2012 08 20
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AG 2012 08 20
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Last modified
8/21/2012 1:00:56 PM
Creation date
11/27/2017 11:10:58 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/20/2012
Board
Board of Commissioners
Meeting Type
Regular
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E. BUDGET CHANGES AND INELIGIBLE EXPENSES: <br />1. Except for changes made in accordance with subsection (2) below, any and all alterations in the <br />approved use of budgeted funds shall be subject to prior review by the City. <br />2. Funds may be shifted between line items of the Project without prior approval of the City only to <br />the extent that such action does not exceed ten percent (10 %) of the line item total from which the <br />funds are being removed or to which the funds are being added. <br />3. A report of fund shifts not requiring prior approval by the City shall be reported in writing to the <br />Planning & Development /Consortium Manager within three (3) days after its effective date. <br />4. Any costs and expenses not covered by the Project Budget, and; hence, eligible for payment from <br />Grant funds, shall be borne entirely by the Agency. <br />F. RECORD AND REPORTS <br />1. The Agency shall maintain and shall make available at reasonable times and places to the City such <br />records and accounts, including property, personnel, and financial records, as are deemed <br />necessary by the City and /or State and Federal agencies in order to assure a proper accounting for <br />all Project funds. <br />2. The Agency shall provide any duly authorized City representative, representative of HUD and the <br />Comptroller General of the United States, at all reasonable times, access to and the right to inspect, <br />copy, monitor, and examine all of the books, papers, records, and other documents relating to the <br />HOME funds and the fulfillment of this agreement for a period of three years following the <br />completion of all close -out procedures respecting HOME funds, and the final settlement and <br />conclusion of all issues arising out of the HOME loan. <br />The Agency shall provide quarterly reports to the City that denotes accomplishments, beneficiaries, <br />problems encountered and changes in work schedule and any other information needed by the City <br />to complete the Consolidated Annual Performance Evaluation Report and other reports required by <br />HUD. This quarterly report shall also include an accounting of all program income received and /or <br />expended during the quarter and year to date. <br />4. The Agency shall provide an Annual Audit Report to the City of Concord performed in compliance <br />with Office of Management and Budget Circular A -133. <br />G. FINANCIAL ACCOUNTING: <br />1. The Agency shall establish and maintain fiscal and accounting records in accordance with generally <br />accepted accounting principles and practices. <br />The Agency shall not commingle accounts to an extent that prevents the accounting and auditing of <br />the funds provided hereunder: provided, however, the Agency may supplement the funds provided <br />hereunder from other fund sources. <br />Attachment number 2 <br />F -7 Page 127 <br />
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