Res 1984-023 - Laserfiche WebLink

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1. Contractor shall submit such Form 270 to Department by the fifth (5th) calendar day of the month for which an advance payment is sought covering total costs for which disbursement of funds will be made by Contractor from the sixteenth (16th) day of such month through the last calendar day of the same month. 2. Contractor shall submit such Form 270 to Department by the twentieth (20th) calendar day of the month preceding the month for which an advance payment is sought covering total costs for which disbursement of funds will be made by Contractor from the first (1st) calendar day of the month through the fifteenth (15th) calendar day of the month following the month in which such Form 270 was submitted to Department. B. Contractor1s requests for advances shall be limited to the minimum amounts needed for effective operation of programs under this contract, and shall be timed as closely as possible to be in accord with actual cash requirements. Contractor shall establish procedures to minimize the time elapsing between the transfer of funds from Department to Contractor and the disbursal of such funds by Contractor. C. Notwithstanding the provisions of Sections 5 (A) of this contract, it is expressly understood and agreed by the parties hereto that payments under this contract are contingent upon Contractor's full and satisfactory performance of its obligations under this contract. D. It is expressly understood and agreed by the parties hereto that any right or remedy provided for in this Section 5 or in any other provision of this contract shall not preclude the exercise of any other right or remedy under this contract or under any provisions of law, nor shall any action taken in the exercise of any right or remedy be deemed a waiver of any other rights or remedies. Failure to exercise any right or remedy hereunder shall not constitute a waiver of the right to exercise that or any other right or remedy at any time. SECTION 6. UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND PROGRAM INCOME A. Contractor shall comply with Office of Management and Budget (OMB) Circular A-102 as supplemented by the rules promulgated by the Office of the Governor at 7 Tex. Reg. 3172 (August 31, 1982) under the Uniform Grant and Contract Management Act of 1981 (TEX.REV.CIV.STAT.ANN.art. 4413 (32g) .), hereinafter referred to as the Management Standards, except to the extent that Department establishes variations from the Management Standards in accordance with Section 6 of such Act. B. The a11owabi1ity of costs incurred for performances rendered hereunder shall be determined in accordance with OMB Circular A-87, as supplemented by Section 5.150 of the Management Standards, and this contract. C. Contractor shall comply with the standards set forth in Attachment E of OMB Circular A-102 as supplemented by Section 5.156 of the Management Standards to account for program income related to activities financed in whole or in part with funds provided under this contract. 1. Contractor shall maintain records of the receipt, accrual, and disposition of all program income in the same manner as required for all other funds under this contract, and Contractor PAGE 3 OF 10