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<br /> XX\II. REIMBURSEMENT OF ELIGIBLE EXPENDITURES: <br /> A. Upon written application by the Contractor and approval by the <br /> Department, the Department shall obligate funds for reimbursement of <br /> eligible expenditures as set forth in the application. <br /> B. The Contraetor shall refund to the Department any funds the Contractor <br /> claims and receives from the Department for the reimbursement of costs <br /> which are determined by a State or Federal audit to be ineligible for <br /> reimbursement. <br /> C. The Department shall have the right to withhold all or part of any <br /> future payments to the Contractor to offset any reimbursement made to <br /> the Contractor for any ineligible expenditures and not refunded to the <br /> Department by the Contractor. <br /> XXVIII. APPLICATION OF THE HATCH ACT: <br /> It is mutually agreed and promised that the Contractor shall notify ev~ry <br /> employee of the Contractor whose principal employment is in connection *irr, <br /> any traffic safety project financed in whole or in part under the Highwd: <br /> Safety Act of 1966, of the provisions of Section 12(a) of the Hatch Act, <br /> 15 V.S.C. 118 (a). <br /> XXIX. STANDARDS FOR CONTRACTOR FINANCIAL MANAGEMENT SYSTEMS: <br /> Contractor financial management systems shall meet or exceed the require- <br /> ments of OMB Circular A-102. Those requirements include, among others: <br /> A. Accurate, current, and complete disclosure of the financial results c: <br /> each grant program in accordance with Departmental reporting <br /> requirements; <br /> B. Records which identify adequately the source and application of funds <br /> for grant-supported activities. These records shall contain information <br /> pertaining to grant awards and authorization, obligations, commitments, <br /> assets, liabilities, outlays, and income; <br /> C. Effective control over and .accountability for all funds, property, and <br /> other assets. The Contractor shall adequately safeguard all such <br /> assets and shall assure that they are used solely for authorized <br /> purposes; <br /> D. Comparison of actual with budgeted amounts for each contract, and rela- <br /> tion of financial information to performance or productivity data, <br /> including the production of unit cost information whenever appropriatE <br /> and required by the grantor agency; <br /> E. Procedures for determining the eligib~lity for reimbursement and <br /> proper allocation of costs; <br /> F. Accounting records which are supported by source documentation; <br /> (Revised 3/84) 12 of 14 <br />