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9. ADMINISTRATIVE REQUIREMENT <br />A. Financial Management <br />1. Accounting Standards <br />The Subrecipient agrees to comply with 2 CFR 200 and agrees to adhere to the <br />accounting principles and procedures required therein, utilize adequate internal controls, <br />and maintain necessary source documentation for all costs incurred. <br />2. Cost Principles <br />The Subrecipient will administer its program in conformance with 2 CFR 200. These <br />principles will be applied for all costs incurred whether charged on a direct or indirect <br />basis. <br />3. Duplication of Costs <br />The Subrecipient certifies that work to be performed under this Agreement does not <br />duplicate any work to be charged against any other contract, subcontract or other source. <br />B. Documentation and Record Kee in <br />Records to Be Maintained <br />The Subrecipient will maintain all records required by the Federal regulations specified in <br />24 CFR 570.506 that are pertinent to the activities to be funded under this Agreement and <br />those records described in the CDBG Management Handbook. Such records will include <br />but not be limited to: <br />a. Records providing a full description of each activity undertaken; <br />b. Records demonstrating that each activity undertaken meets one of the National <br />Objectives of the CDBG program; <br />c. Records required to determine the eligibility of activities; <br />d. Records required to document the acquisition, improvement, use or disposition of <br />real property acquired or improved with CDBG assistance; <br />e. Records documenting compliance with the civil rights components of the CDBG <br />program; <br />f. Financial records as required by 24 CFR 570.502, and 2 CFR 200.333; <br />g. Labor standards records required to document compliance with the Davis Bacon <br />Act, the provisions of the Contract Work Hours and Safety Standards Act, and all <br />other applicable Federal, state and local laws and regulations applicable to <br />CDBG-funded construction projects; and <br />h. Other records necessary to document compliance with Subpart K of 24 CFR Part <br />570. <br />2. Access to Records and Retention <br />Local Government, the Washington State Department of Commerce, and other <br />authorized representatives of the state and federal governments shall have access to any <br />books, documents, papers and records of the Subrecipient that are directly pertinent to <br />Agreement 2024-2027 CDBG GP Microenterprise Accelerator Subrecipient <br />Page 6 of 13 <br />