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<br />no longer needed to perform services under the contract or becomes inoperable, PERFORMING AGENCY shall <br />request disposition instructions in writing from RECEIVING AGENCY. <br /> <br />Upon termination or expiration of applicable Attachment(s) that are not renewed, title to any remaining equipment <br />and supplies purchased from funds under this contract reverts to RECEIVING AGENCY. Title may be transferred <br />to any other party designated by RECEIVING AGENCY. RECEIVING AGENCY may, at its option and to the <br />extent allowed by law, transfer the reversionary interest to such property to PERFORMING AGENCY. <br /> <br />ARTICLE 22. Contracts with Subrecipients <br /> <br />PERFORMING AGENCY may enter into contracts with subrecipients unless restricted or otherwise prohibited in <br />specific Attachment(s). Prior to entering into an agreement equaling $25,000 or 25% of an Attachment, whichever <br />is greater, PERFORMING AGENCY shall obtain written approval from RECEIVING AGENCY. <br /> <br />Contracts with subrecipients shall be in writing and must include the following: <br /> <br />· name and address of all parties; <br />· a detailed description of the services to be provided; <br />· measurable method and rate of payment and total amount of the contract; <br />· clearly defined and executable termination clause; <br />· beginning and ending dates which coincide with the dates of the applicable contract Attachment(s) <br />or cover a term within the beginning and ending dates of the applicable contract Attachment(s); <br />· records retention requirements consistent with UGMS; <br />· access to inspect the work and the premises on which any ofthe work is performed, in accordance <br />with the Inspections Article contained in this contract; and, <br />· all clauses required by state/federal statutes, executive orders, and their implementing regulations. <br /> <br />PERFORMING AGENCY agrees that all contracts with subrecipients containing a categorical budget shall include <br />audit requirements referenced in the Allowable Costs and Audit Requirements Article of this contract, as <br />appropriate. <br /> <br />PERFORMING AGENCY is responsible to RECEIVING AGENCY for the performance of any subrecipient. <br />PERFORMING AGENCY will monitor both financial and programmatic performance and maintain pertinent <br />records that will be available for inspection by RECEIVING AGENCY. <br /> <br />PERFORMING AGENCY shall ensure that: <br /> <br />. <br /> <br />subrecipients are fully aware of the requirements imposed upon them by state/federal statutes and <br />regulations; <br />subrecipients comply with all financial management requirements as defined by RECEIVING <br />AGENCY, UGMS and the applicable OMB circulars; <br />subrecipients complete required audits; <br />an adequate tracking system is maintained to ensure timely receipt of any subrecipient' s required <br />audit reports and the resolution of any findings and questioned costs cited by these reports; and, <br />that <br />RECEIVING AGENCY is immediately notified in writing of alleged or actual mIsuse or <br />misappropriation of contract funds by subrecipients. <br />2002 GENERAL PROVISIONS Page 15 04/01 <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />(LGS) <br />