Laserfiche WebLink
6. COMPENSATION AND METHOD OF PAYMENT <br /> A. The City shall pay the Agency the amount specified in the Scope.The City makes no commitment <br /> to future support and assumes no obligation for future support except as expressly set forth in <br /> this Agreement. The City does not, by making such payment, waive any rights it may have <br /> pursuant to this Agreement to require satisfactory performance of the services provided herein. <br /> The City reserves the right to demand and receive reimbursements made for ineligible costs. <br /> B. It is expressly agreed and understood that the total amount to be paid by the City under this <br /> Agreement shall not exceed $120,000.00. Drawdowns for the payment of eligible expenses shall <br /> be made against the line item budgets specified in Exhibit B herein and in accordance with <br /> performance. Expenses for general administration shall also be paid against the line item budgets <br /> and in accordance with performance. <br /> Payments may be contingent upon certification of the Subrecipient's financial management <br /> system in accordance with the standards specified in 2 CFR 200 Uniform Administrative <br /> Requirements. <br /> Requests for reimbursement must be in the format acceptable to the City of Everett. Exhibit C <br /> shall be used for all reimbursement requests under this agreement and be accompanied by <br /> appropriate source document as described in Exhibit C. Requests for reimbursement shall be <br /> submitted to the City no less than once per quarter following execution of this agreement unless <br /> otherwise approved by the Community Development Director or designee. <br /> C. The Agency shall not use the funds provided under this Agreement for costs that have been or <br /> will be paid by any other source, including grants,for that service. <br /> D. The Agency is responsible for any audit exceptions or disallowed costs incurred by its own or that <br /> of its subcontractors. Should the Agency be found to spent funds inconsistent with federal laws, <br /> rules, guidelines, or otherwise inappropriately, it is the responsibility of the Agency to reimburse <br /> the City for any amount spent on disallowed costs. <br /> 7. AUDIT <br /> The Agency shall maintain internal controls providing reasonable assurance it is managing federal awards <br /> in compliance with laws, regulations, and provisions of contracts or grant agreements that could have a <br /> material effect on each of its federal programs;and prepare appropriate financial statements,including a <br /> schedule of expenditures of federal awards. <br /> If the Agency expends $750,000 or more in federal awards from any and/or all sources in any fiscal year, <br /> the Agency shall procure and pay for a single audit or a program-specific audit for that fiscal year. Upon <br /> completion of each audit,the Agency shall: <br /> A. Submit to the City the reporting package specified in OMB Super Circular 2 CFR 200.501, reports <br /> required by the program-specific audit guide (if applicable), and a copy of any management <br /> letters issued by the auditor. <br /> B. Submit to the City follow-up and developed corrective action plans for all audit findings. <br /> - 2 - <br />