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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 />hereumder. <br />G. Separation of Accounts. All finds 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 />2 CFR 200.302 requirements. SUBRECIPIENT is not required to maintain separate depository <br />accounts for CDBG FUNDS; provided however, the SUBRECIPIENT must be able to account for <br />receipt, obligation and expenditure of CDBG FUNDS pursuant to applicable 2 CFR 200.302 <br />requirements. <br />H. Audit Report Requirements. SUBRECIPIENT agrees that if SUBRECIPIENT <br />expends Seventy -Seven Thousand Three Hundred and Ninety Eight Dollars ($77,398.00) or more in <br />federal funds, SUBRECIPIENT shall have an annual audit conducted by a certified public <br />accowitant in accordance with the standards as set forth and published by the United States Office <br />of Management and Budget. SUBRECIPIENT shall provide CITY with a copy of said audit by <br />April 1 of the year following the program year in which this Agreement is executed. <br />I. Record KeepingVRe oorrting. 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 24 <br />CPR 570.504(b((2)(i), (ii) and 24 CFR 570.503(b)(3) and 24 CFR 570.208(a)(2)(B) of the <br />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 bead of <br />household, race /etlmicity, and income verification of all household members ages 18 and <br />over. <br />d. Documentation of all CDBG FUNDS received from CITY. <br />c. 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 />contracts or documentation pertaining to costs for subcontractors, plus all other invoices and <br />proof of payment for which CDBG FUNDS were expended, and any payments therefor. <br />25D -6 <br />