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• <br /> made from the County for any HOME funded activity <br /> undertaken by the Agency. <br /> The Agency will maintain records which adequately identify the <br /> source and application of program income as part of the <br /> financial transactions of its HOME activities, consistent with <br /> generally accepted accounting principles and the requirements <br /> of 24 CFR 85.20. The financial records will identify which <br /> activities generated program income and which activities <br /> received program income, including the amount. The Agency <br /> will submit to the County, for inclusion in the County's Integrated <br /> Disbursement and Information System (IDIS) a monthly report, <br /> in a format prescribed by the County, of receipt to and <br /> expenditures from the program income account. The Agency <br /> will also maintain records which will allow it to reasonably <br /> predict anticipated program income available for HOME <br /> activities to be undertaken by the Agency during the next annual <br /> Snohomish County Consortium Consolidated Program Year. <br /> That information will be provided to the County on an annual <br /> basis for inclusion in the County's Annual Consolidated Action <br /> Plan of activities to be funded with HOME resources. Upon <br /> termination of participation by the Agency in the County / City <br /> HOME Consortium, any program income on hand as well as <br /> any future program income (accounts receivable) will be <br /> returned to the County. <br /> b) Recaptured Funds <br /> Recaptured funds are HOME funds which are recouped by the <br /> Agency when HOME assisted homeownership housing does <br /> not continue to be the principal residence of the assisted <br /> homebuyer for the full affordability period required by 24 CFR <br /> 92.254(a)(4). The Agency will use and account for recaptured <br /> funds in the same manner as program income, as described <br /> G.4.(a). herein. Upon termination of participation by the agency <br /> in the County/ City HOME Consortium, recaptured funds will be <br /> returned to the County. Any funds recouped after the <br /> affordability period constitute program income. <br /> G. Records and Reports <br /> The Agency agrees to maintain the following records and submit the following <br /> reports in order to assist the County in meeting its recordkeeping and reporting <br /> requirements: <br /> 1. Records <br /> The period required for record retention is subject to the requirements found at 24 CFR <br /> 92.508(c). The Agency agrees to generate and maintain sufficient records to enable <br /> the County to determine whether the Agency has met the requirements of this <br /> Agreement including the following: <br /> 48 <br /> 7 <br />