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for payment against any Co-funder entity that has made full payment to the Foundation. <br /> Additionally,if this agreement is terminated prior to Sub-recipient's completion of all work in <br /> Exhibit B,the Foundation shall reimburse each Co-founder is equitable share of unexpended <br /> funding. <br /> E. Deductions &Withholdings: <br /> 1. Foundation may deduct amounts or withhold payments invoiced by the Sub-recipient if the Sub- <br /> recipient fails to comply with any Foundation standard and/or Federal Uniform Administrative <br /> Requirements applicable to this PFA based upon the Sub-recipient's cognitive agency. <br /> 2. Funds withheld due to unsatisfactory compliance with any Foundation standard and/or Federal <br /> Uniform Administrative Requirements(based on Sub-recipient's cognitive agency)may be <br /> restored upon satisfactory correction or completion of the condition that caused the withholding. <br /> VIII. STANDARDS FOR FINANCIAL MANAGEMENT <br /> A. Financial Management System: <br /> 1. The Sub-recipient will maintain an accounting system and a set of accounting records that, at a <br /> minimum, allow for the identification of individual Projects by source of revenue and <br /> expenditures related to this PFA. <br /> 2. All costs will be supported by source documentation and be made available to the Foundation <br /> upon request. <br /> 3. The Sub-recipient's accounting records will be the basis for generating financial reports that <br /> must reflect accurate and complete data. In addition,financial records must be properly closed <br /> out at the end of the PFA period and all reports submitted in a timely manner. <br /> B. Cost Principles: Even though no U.S.Federal funds are being provided for this Project,for each <br /> type of Sub-recipient organization,there is a set of Federal cost principles for determining allowable <br /> costs with which principles the Sub-recipient agrees to comply and which principles are hereby <br /> included by this reference in this PFA unless such principles axe modified by this PFA. Allowable <br /> costs are determined in accordance with the cost principles applicable to the type of organization <br /> incurring the costs. The following is a non-exclusive example of a list of organization types and the <br /> applicable cost principles to be used: <br /> • State,local or Indian tribal government,OMB Circular A-87. <br /> • Non-profit Organization(NPO),2 CFR 230. <br /> • Institution of Higher Education,2 CFR 220. <br /> • Hospitals, 45 CFR 74. <br /> • Commercial(For Profit) and selected Non-Profit Organizations. <br /> C. Indirect Costs and Allocation of Costs: <br /> 1. If the Sub-recipient charges indirect(overhead) costs to the PFA, an"Indirect Cost Proposal" <br /> must be prepared in accordance with the applicable cost principles referenced in Section VIII.B. <br /> FINAL 09012011 8 Joint Multi Funded PFA <br /> 46 <br />