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EXHIBIT 1 <br /> B. Pursuant to 2 CFR §200.332(b)(4), the Indirect Cost Rate for the <br /> SUBRECIPIENT's award shall be an approved federally recognized indirect cost rate negotiated <br /> between the SUBRECIPIENT and the Federal government, or, if no such rate exists, either a rate <br /> negotiated between the CITY and the SUBRECIPIENT, or a de minimis indirect cost rate as defined in <br /> 2 CFR §200.414(f) Indirect (F&A) costs. <br /> C. SUBRECIPIENT has the ability to adjust line item amounts in the budget with <br /> the approval of the Executive Director, so long as the total Budget amount does not increase. <br /> D. CITY agrees to provide for on-site monitoring reviews of said program <br /> operation at least annually. In addition, monthly desktop reviews of pertinent information will be <br /> conducted. <br /> E. CITY has the right to de-obligate the funds hereunder, and take such funding <br /> back from SUBRECIPIENT, due to any of the following reasons: (a) lack of performance by <br /> SUBRECIPIENT; (b) lack of fiscal accountability of SUBRECIPIENT; or (c) decrease in available <br /> funding. <br /> III. <br /> TERM OF AGREEMENT <br /> A. This Agreement shall commence on July 2, 2025, and all duties arising under <br /> this Agreement shall have been performed by June 30, 2026. The Term of this Agreement may be <br /> extended by a writing executed by the City Manager and the City Attorney. SUBRECIPIENT <br /> acknowledges and agrees that it must provide follow-up services for one (1) year after the Term, <br /> whether funded or not. <br /> B. SUBRECIPIENT agrees to comply with the closeout procedures detailed in 2 <br /> CFR §200.343, including the following: <br /> 1. SUBRECIPIENT must submit, no later than ninety (90) calendar days <br /> after the end date of the period of performance, all financial, performance, and other reports as required <br /> by the terms and conditions of the Federal award; <br /> 2. Unless the CITY authorizes an extension, SUBRECIPIENT must <br /> liquidate all obligations incurred under the Federal award not later than ninety (90) calendar days after <br /> the end date of the period of performance as specified in the terms and conditions of the Federal award; <br /> 3. SUBRECIPIENT must promptly refund any balances of unobligated cash <br /> that the CITY paid in advance or paid and that is not authorized to be retained by SUBRECIPIENT for <br /> use in other projects (See OMB Circular A-129 and 2 CFR §200.345); <br /> 4. SUBRECIPIENT must account for any real and personal property <br /> acquired with Federal funds or received from the Federal government in accordance with 2 CFR <br /> §§200.310-200.316 and 2 CFR 200.329; and, <br /> 5. The CITY should complete all closeout actions for the Federal award no <br /> later than one year after receipt and acceptance of all required final reports. <br /> Page 6 of 18 <br />