AG 1998 07 13 - Laserfiche WebLink

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and hence not properly payable from Grant funds, shall be borne entirely by the Agency. RECORDS AND REPORTS: The Agency shall maintain and shall make available at reasonable times and places to the City such records and accounts, including property, personnel, and financial records, as are deemed necessary by the City and/or State and federal agencies in order to assure a proper accounting for all Project funds. The Agency shall provide any duly authorized City representative, representative of HUD and the Comptroller General of the United States, at all reasonable times, access to and the right to inspect, copy, monitor, and examine all of the books, papers, records, and other documents relating to the HOME funds and the fulfillment of this agreement for a period of three years following the completion of all close-out procedures respecting HOME funds, and the final settlement and conclusion of all issues arising out of the HOME loan. The Agency shall provide biannual reports to the City which notes accomplishments, beneficiaries, problems encountered and changes in work schedule and any other information needed by the City to complete the Annual Performance Report and other reports required The Agency shall provide an Annual Audit Report to the City of Concord performed in compliance with Office of Management and Budget Circular A-133. FINANCIAL ACCOUNTING: The Agency shall establish and maintain fiscal and accounting records in accordance with generally accepted accounting principles and practices. The Agency shall not commingle accounts to an extent that prevents . the accounting and auditing of the funds provided hereunder: Provided, however, the Agency may supplement the funds provided hereunder from other fund sources. 3. Funds provided hereunder are exclusively for the purposes of this