2016-08-22-minutes-public-works-study-session

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SECTION 11. PROJECT REIMBURSEMENTS A. Reimbursement Basis. This Agreement is administered on a reimbursement basis. The sponsors may only request reimbursement for eligible and allowable costs incurred during the period of performance. The sponsor may only request reimbursement after (1) this Agreement has been fully executed and (2) the sponsor has remitted payment to its vendors. RCO will authorize disbursement of project funds only on a reimbursable basis at the percentage as defined in Section F: Project Funding Amount. Reimbursement shall not be approved for any expenditure not incurred by the sponsor or for a donation used as part of its matching share. RCO does not reimburse for donations, which the sponsor may use as part of its percentage. All reimbursement requests must include proper documentation of expenditures as required by RCO. B. Escrow Payments. Direct payment to an escrow account of the RCO's share of the approved cost of real property and related costs may be made following RCO approval when the sponsor indicates a temporary lack of funds to purchase the property on a reimbursement basis. Prior to release of the RCO's share into escrow, the sponsor must provide the RCO with a copy of a binding agreement between the sponsor and the seller, all required documentation, and evidence of deposit of the sponsor's share into an escrow account. C. Reimbursement Request Frequency. Sponsors are encouraged to send RCO a reimbursement request at least quarterly. Sponsors are required to submit a reimbursement request to RCO, at a minimum for each project at least once a year for reimbursable activities occurring between July 1 and June 30 or as identified in the milestones. Sponsors must refer to the most recently published/adopted RCO policies and procedures regarding reimbursement requirements. D. Compliance and Payment. The obligation of RCO to pay any amount(s) under this Agreement is expressly conditioned on strict compliance with the terms of this Agreement by the sponsor. E- Retainage Held Until Project Complete. RCO reserves the right to withhold disbursement of up to the final ten percent (10%) of the total amount of the grant to the sponsor until the project has been completed. A project is considered "complete" when: 1. All approved or required activities outlined in the Agreement are done; 2. On-site signs are in place (if applicable); 3. A final project report is submitted to and accepted by RCO; 4. Any other required documents are complete and submitted to RCO; 5. Afinal reimbursement request is submitted to RCO; 6. The completed project has been accepted by RCO; 7. Final amendments have been processed; 8. Fiscal transactions are complete; and 8. RCO has accepted a final boundary map, if required for the project, for which the Agreement terms will apply in the future. F Sources of Elig Ibis Match. Applicant resources used to match board funds must be eligible in the grant program. Sources of matching resources include, but are not limited to, any one or more of the following: 1. Appropriations and cash; 2. Value of the applicant's expenses for labor, materials, and equipment; 3. Value of donated real property, labor, services, materials, and equipment use; and 4. Other state or federal funds. G. Requirements for Federal Subawards: Match. The sponsor's matching share must comply with 2 C.F.R. § 200.306 (2013). Any shared costs or matching funds and all contributions, including cash and third party in-kind contributions, must be accepted as part of the sponsor's matching share when such contributions meet all of the following criteria: 1. Are verifiable from the non -Federal entity's (sponsor's) records; 2. Are not included as contributions for any other Federal award; 3. Are necessary and reasonable for accomplishment of project or program objectives; 4. Are allowable under 2 C.F.R- Part 200, Subpart E -Cost Principles (2013); 5. Are not paid by the Federal Government under another Federal award, except where the Federal statute authorizing a program specifically provides that Federal funds made available for such program can be applied to matching or cost sharing requirements of other Federal programs; 6. Are provided for in the approved budget when required by the Federal awarding agency identified in Section G: Federal Fund Information of this Agreement; and 7. Conform to other provisions of 2 C.F.R. Part 200, Subpart D -Post Federal Award Requirements (2013), as applicable. RCO 16-1860C Page 10 of 23