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5/11/10 <br />good -faith efforts to gain compliance with local, state or federal rules and regulations following <br />written notification of said violation(s) from the CITY or other authorized citing agency. <br />SUBRECIPIENT shall notify CITY immediately of any pending violations. Failure to notify CITY <br />of pending violations, or to remedy such known violation(s) shall result in termination of grant <br />funding hereunder. SUBRECIPIENT must make all corrections required to bring the <br />facility /property into compliance with the law within sixty (60) days of notification of the <br />violation(s); failure to gain compliance within such time shall result in termination of grant funding <br />hereunder. <br />G. Separation of Accounts. All funds received by SUBRECIPIENT from CITY <br />pursuant to this Agreement shall be maintained in an account in a federally insured banking or <br />savings and loan institution with record keeping of such accounts maintained pursuant to applicable <br />OMB Circular A -110 requirements. SUBRECIPIENT is not required to maintain separate <br />depository accounts for CDBG FUNDS; provided however, the SUBRECIPIENT must be able to <br />account for receipt, obligation and expenditure of CDBG FUNDS pursuant to applicable OMB <br />Circular A -110 requirements. <br />H. Audit Report Requirements. SUBRECIPIENT agrees that if SUBRECIPIENT <br />expends Five Hundred Thousand Dollars ($500,000.00) or more in federal funds, SUBRECIPIENT <br />shall have an annual audit conducted by a certified public accountant in accordance with the <br />standards as set forth and published by the United States Office of Management and Budget. <br />SUBRECIPIENT shall provide CITY with a copy of said audit by April 1 of the year following the <br />program year in which this Agreement is executed. <br />1. Record Keeping/Reporting. SUBRECIPIENT shall keep and maintain complete and <br />adequate records and reports on program participants to determine their initial and continuing <br />eligibility for the program services being provided to assist CITY in meeting and maintaining its <br />record keeping responsibilities under the CDBG REGS, including the following: <br />(1) Records <br />a. Documentation evidencing program income requirements in conformity with <br />24 CFR 570.504(b((2)(i), (ii) and 24 CFR 570.503(b)(3) and 24 CFR 570.208(a)(2)(B) of <br />the income level of persons and/or families participating in or benefiting by the <br />SUBRECIPIENT program. <br />b. Documentation of the number of persons and/or families participating in or <br />benefiting by the SUBRECIPIENT program. <br />c. Household information shall include number of persons, identification of head <br />of household, race /ethnicity, and income verification of all household members ages 18 <br />and over. <br />d. Documentation of all CDBG FUNDS received from CITY. <br />e. Documentation of expenses as identified in the Budget Proposal, including <br />evidence of incurring the expense, invoices for goods or services, copies of any and all <br />r <br />