8-15-Teanaway Res-2017-139 - Laserfiche WebLink

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system requirements of2CFR Part 200.302. The Servicing Agency's failure to comp1ywith these requirements may result in Agreement termination. 6. Allowable Costs: Determination of allowable costs will be made in accordance with the applicable Federal cost principles, e.g., 2 CFR Part 200. Disallowed costs are those charges determined to not be allowed in accordance with the applicable Federal cost principtes or other conditions contained in this Agreement. E. TRANSPARENCY ACT REQUIREMENTS Pursuant to the Federal Funding Transparency and Accountability Act of2006, as amended (Pub. L. 109- 282, as amended by section 6202 of Public Law 110-252, hereafter referred to as "the Transparency Act" or "the Act") and the OMB Interim Final Rule (75 FR 55663 (September 14, 2010) (available at http://www.gpo.gov/fdsyslpkgIFR-2010-09-14/pdf/201O-22705.pdf) (codified at 2 CFR Part 170), the Servicing Agency is required to report as required under the Act: The Servicing Agency shall also report infonnation for its prime contractor. 1. Reporting Obligations a. Applicability. Unless the Servicing Agency (hereinafter in this section referred to as "you") are exempt as provided in paragraph 4. of this section, you must report each action that obligates $25,000 or more in Federal funds for a prime contract to an entity (see definitions in subsection 5. of this section). b. Where and when to report. 1. You must repOlt each obligating action described in subsection l.a. of this sectionJQ http://www.fsrs.gov. 2. For contractor information, report no later than the end of the month following the month in which the contract was executed. (For example, if the obligation was made on November 7,2010, the obligation must be reported by no later than December 31, 2010.) c. What to report. You must report the infonnation about each obligating action that the submission instructions posted at http://www.fsrs.gov specify. 2. Reporting Total Compensation of Executives. a. Applicability and what to report. You must report total compensation for each of your five most highly compensated executives for the preceding completed fiscal year, if- 1. the total Federal funding authorized to date under this award is $25,000 or more; 2. in the preceding fiscal year, you received- i. 80 percent or more of your annual gross revenues from Federal procurement contracts (and subcontracts) and Federal financial assistance subject to the Transparency Act, as defined at 2 CFR 170.320 (and subawards); and