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<br />Agreement #W7-GJC-10 <br />City of Santa Ana <br /> <br />1 CONTRACTOR shall ensure that all subcontracts for services and contracted staff are procured in a <br />2 manner consistent with Federal, State and local guidelines. Description of the intended method of <br />3 procurement must be included as part of the budget which is included as Exhibit "0" of this Agreement. <br />4 CONTRACTOR shall itemize all subcontractor and contracted staff costs in the budget so it is clear how <br /> <br />5 the funds will be allocated and spent by each subcontractor. By entering into this Agreement <br /> <br />6 CONTRACTOR agrees that it is the direct provider of services. <br /> <br />7 22. FISCAL ACCOUNTABILITY <br /> <br />8 (a) Financial ManaQement Svstem. CONTRACTOR shall establish and maintain a sound financial <br /> <br />9 management system, based upon generally accepted accounting principles. CONTRACTOR's system <br /> <br />10 shall provide fiscai control and accounting procedures that will include the following: <br /> <br />11 (1) Information pertaining to subgrant and contract awards, obligations, unobligated balances, <br /> <br />12 assets, expenditures, and income; <br /> <br />13 (2) Effective internal controls to safeguard assets and assure their proper use; <br /> <br />14 (3) A comparison of actual expenditures with budgeted amounts for each subgrant and contract; <br /> <br />15 (4) Source documentation to support accounting records; and <br /> <br />16 (5) Proper charging of costs and cost allocation. <br /> <br />17 (b) CONTRACTOR's Records. CONTRACTOR's records shall be sufficient to: <br /> <br />18 (1) Permit preparation of required reports; <br />19 (2) Permit the tracking of funds to a levei of expenditure adequate to establish that funds have <br /> <br />20 not been used in violation of the applicabie restrictions on the use of such funds; and <br /> <br />21 (3) Permit the tracking of program income, or profits earned, and any costs incurred (such as <br /> <br />22 stand-in costs) that are otherwise allowable except for funding limitations. <br />23 (c) Costs Charoed. Costs shall be charged to this Agreement only in accordance with the <br /> <br />24 following: <br /> <br />25 (1) the Act; <br />26 <br /> <br />WIA Cost Reimbursement Agreement - Green Jobs Corps <br /> <br />15 <br />