Laserfiche WebLink
for any damages as a result of termination under this provision of this AGREEMENT. Nothing <br />herein shall be construed as obligating the CITY to expend funds in excess of appropriations <br />authorized by law. <br />(2)The SUB RECIPIENT shall allow representatives of the CITY or HUD to inspect <br />facilities which are used in connection with the AGREEMENT or which implement programs <br />funded under this AGREEMENT. <br />F.Matching <br />The SUBRECIPIENT is required to make matching contributions to supplement the ESG <br />program in an amount that equals or exceeds the amount of ESG funds provided by HUD through <br />the CITY. Such contributions shall be entirely consistent with the Matching Requirements as <br />outlined by 24 CFR § 576.201. The anticipated source and amount of all matching funds <br />contributed by the SUBRECIPIENT will be enumerated in Exhibit B, Final Budget. <br />G.Program Income <br />(1)Definition. Program income means, as provided by 2 CFR 200.1, gross income <br />earned by the SUBRECIPIENT that is directly generated by a grant supported activity, or earn ed <br />only as a result of the grant agreement during the grant period. For purposes of ESG, program <br />income will also include any amount of a security or utility deposit returned to the <br />SUB RECIPIENT. <br />(2)Use. The SUBRECIPIENT shall use all income received from said funds only <br />for the same purposes for whi ch said funds may be expended pursuant to the terms and conditions <br />of this AGREEMENT. <br />(3)Counts toward Matching. Costs paid by program income may count toward <br />meeting the matching requirements, provided the costs are eligible ESG costs that supplement the <br />program. <br />H.Separation of Accounts <br />All funds received by the SUBRECIPIENT from the CITY pursuant to this <br />AGREEMENT shall be maintained separate and apart from any other funds of the <br />SUBRECIPIENT, or of any principal or member of the SUBRECIPIENT, in an account (the <br />"Account") at a federally insured banking or savings and loan institution with record keeping of <br />such Accounts maintained pursuant to applicable legal requirements. The SUBRECIPIENT shall <br />keep all records of the Account in a manner that is cons istent with generally accepted accounting <br />principles. No monies shall be withdrawn from the Account except for expenditures relating to <br />essential services, homeless prevention, and/or operations costs, as authorized hereunder. All <br />disbursements from the Account shall be for obligations incurred in the performance of this <br />AGREEMENT and shall be supported by contracts, invoices, vouchers, and other data, as <br />appropriate, evidencing the necessity of such expenditure. The CITY may withhold payment <br />allocation requests if the SUB RECIPIENT fails to comply with the above requirements until such <br />compliance is demonstrated. <br />I.Expenditure of Fnnds <br />Much like how HUD requires the CITY, pursuant to 24 CFR 576.203, to expend all of <br />the grant funds for eligible activity costs within 24 months after the date that HUD sigos the grant <br />agreement with the CITY, it is a requirement for the SUBRECIPIENT to expend all of the grant <br />funds for eligible activity costs within the aforementioned period. For the purposes of this <br />Page 4 of23 <br />EXHIBIT 4