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9 <br />A. FinancialManagement <br />Cost Principles <br />Th. S"b*"tptrnt will administer its program in conformance with 2 CFR 200' These <br />principles *itt b. applied for all costs incurred whether charged on a direct or indirect <br />basis. <br />I Accountine Standards <br />Th. S"b*rtpt*t agiees to comply with 2 CFR 200 and agrees to adhere to the <br />accounting principies and procedures required therein, utllize adequate internal controls, <br />and maintain necessary source documentation for all costs incurred. <br />2 <br />B <br />3. Duolication of Costs <br />t'..;pi.''t..'tifiesthatworktobeperformedunderthisAgreementdoesnot <br />duplicate any work to be charged against any other contract, subcontract or other source. <br />Documentation and Record Keeping <br />l. Records to Be Maintained <br />@tainal1recordsrequiredbytheFedera1regulationsspecifiedin <br />24 CFR 570.506 that arepertinent to the activities to be funded under this Agreement and <br />those records described in ttre 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 demonstiating 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.o*pliance with the civil rights components of the CDBG <br />program; <br />f. pinancial records as required by 24 cFR 570.5 02, and 2 cFR 200-333; <br />g. Labor standards recordi 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 />Access to Records and Retention <br />Local Government, lhe Washington State Department of Commerce, and other <br />authorized representatives of the state and federal govefiIments shall have access to any <br />books, documents, papers and records of the Subrecipient that are directly pertinent to <br />Agreement 2023 -2024 CDBG- SR <br />Page 6 of 13 <br />2