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Section 6: Establishment, Maintenance, and Accumulation of Accoun,tin~ Records and Program Goals. (A) 1. The Contractor shall maintain such records and accounts ~ncluding property, personnel, f~nancial, and program records, as are deamed necessary by the Grantee to assure a proper accounting for all program funds. These records will be made available for the purpose of making audits, examinations, excerpts, and transcriptions to the Grantee, the Comptroller General of the United States or any authorized representative and will be retained by the Contractor for three (3) years after the expiration of this contract unless permission to destroy than is grented by the Grantee. Funds received under th~s agreement shall be accounted for separately from funds received from all other sources. (B). Allowable Costs. Expenditures by the Contractor sha~l be reimbursed as a~lowab~e costs on~y to the extent that they meet all of the requirements set forth be~ow: (]) be made in conformance w~th the Progrmn descriptions and the program budget and all other provis~ons of this agreement; (2) be necessary in order to accomplish program tasks; (3) be administered in accordance with federal management circulars as follows: a. Federal Management Circular 73-2 (34 CFR 251), entitled, "Audit on Federal Operations and Programs by Executive Branch A~encies"; b. Office of Management and Budget Circular A-87, entitled, "cost Principles for State and Loca~ Governments"; c. O~fice of Management and Budget Circular ~-102 entitled "Uniform Administrative Requirements for Grant-In Aids to State and Local Governments ." d. Office of Management and Budget Circular A-110 entitled, "Uniform Administrative Requirements for Non-profit Organizations"; e. Office of Management and Budget Circular A~122 entitled, "cost Principles for Non-profit Organizations"; (C) financial assistance provided under this agreement shall not be used directly or indirectly: 1. for consbruetion, such as construction of mass transit systems, and exclusive bus lanes; 2. bo subsidize fares for public transportation; or 3. for subsidies for utility rate demonstrations or State insulation tax credits.