55F - RESO - PARKS PROGRAM GRANT

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City of Santa Ana 14 -HRPP -9159 Page 2of2 EXHIBIT B D. A separate checking account for the Grant funds is not required. However, the Contractor shall deposit Grant funds in an interest bearing checking or savings account, or the State may require the Contractor to deposit all Grant funds into a segregated account in an Institution whose deposits are insured by the federal or state government. All interest earned from the deposit of Grant funds shall be used for allowable, Program purposes and accounted for to the State. All funds not expended within 90 days of receipt, or by June 30, 2016, as applicable, shall be returned to the State with accrued interest. E. The Contractor shalt make a good faith effort to minimize the number of disbursement requests to the State by anticipating and requesting in advance the maximum amount of funds that can be expended within the (ninety) 90 day time frame. F. The Contractor shall inform the State within a reasonable amount of time in the event that expenditures related to an authorized project(s) are less than the total Grant award. The Contractor may expend the balance of Grant funds on additional capital assets projects, upon written State approval. Contractor shalt provide the State with a letter of request that describes the additional project(s) to be funded. G. The Contractor shalt immediately inform the State, no later than December 31, 2015, 0 the Contractor anticipates it will not be able to expend all Grant funds by June 30, 2016. H. The Contractor is responsible for maintaining records which fully disclose the activities funded by the Grant. Adequate documentation of each transaction shall be maintained to permit the determination, through an audit 9 requested by the State, of the accuracy of the records and the eAowability of expenditures charged to Grant funds. If the allowability of expenditure cannot be determined because records or documentation are inadequate, the expenditure may be disallowed, and the State shall determine the reimbursement method for the amount disallowed. The State's determination of the atiowabiitiy of any expense shall be final, absent fraud, mistake or arbitrariness. 1. Any Grant funds remaining unexpended as of June 30, 2016, must be returned to the State with accrued Interest. Checks shall be made payable to the Department of Housing and Community Development (HCD) and shall be mailed to the Department at the address below, no later than July 31, 2016. Department of Housing and Community Development Accounting Division 2020 K El Camino Ave. P.O. Box 952050 Sacramento, California 94252 -2050 HRP Program Grant — Round 3 NOFA Date: 10112/13 Rev. Date: 8/15114 Prop Data: 8120/14 55F -9