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tG-6938 <br />Cost Principles <br />The County shall administer its program in conformance with 2 CFR 200 Subpart E <br />(200.400-475). These principles shall be applied for all costs incurred whether charged <br />on a direct or indirect basis. The County agrees to adhere to the accounting principles <br />and procedures required therein. <br />Gountv Monitorinq and Management <br />County agrees to abide by, and cooperate with OSOS, in meeting the applicable federal <br />requirements for sub-recipient monitoring and management found in 2 CFR 200.331. <br />lnterest <br />The County shall place funds received pursuant to this Agreement in an interest bearing <br />account. All funds received pursuant to this Agreement will remain in that account until <br />spent by the County on allowable activities. lnterest earned on deposited funds will be <br />spent on allowable activities under this Agreement. ln the event of termination of this <br />Agreement in accordance with its terms, unspent or unobligated interest earned on <br />deposited funds shall be remitted to OSOS together with all other unspent or unobligated <br />Federal and state matching grant funds. <br />IX. GENERAL OBLIGATIONS OF THE COUNTY <br />General Standards <br />The County shall procure materials in accordance with the requirements of 2 CFR 200, <br />Subpart D regarding Procurement Standards, and shall subsequently follow 2 CFR 200, <br />Subpart D Property Standards, covering utilization and disposal of property. <br />Equipment <br />The purchase of equipment is an unallowable activity except when it is an integral part of <br />an eligible project or service. Equipment with a unit cost of $5,000 or more must have <br />prior approval from OSOS before any expense is incurred. The County shall comply with <br />its own current policies concerning the purchase of equipment and shall maintain <br />inventory records of all non-expendable personal property as defined by such policy, and <br />as may be procured with funds provided herein. All other program assets (property, <br />equipment, accounts receivable, etc.), other than unused grant funds and interest, shall <br />revert to the County upon expiration of this Agreement, unless this Agreement is <br />terminated under its own terms, or a different disposition of program assets is specified <br />separately in writing by the parties. <br />Page 5 of 21