Res 1989-023 - Laserfiche WebLink

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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 shall provide reports of program income to Department with each form submitted by Contractor in accordance with Section 5 of this contract, and at the termination of this contract. 2. Program income earned by Contractor during the period of this contract shall be retained by Contractor and utilized by Contractor to fund performances specified in this contract, in the manner specified hereunder, prior to requesting additional funds from Department. 3. At least sixty (60) days prior to the termination of this contract. Contractor shall submit a plan to Department for its approval which specifies the manner in which Contractor proposes to use any unexpended program income earned under this contract to continue the performance specified in this contract in the manner specified hereunder. In the event Department does not approve the plan submitted by Contractor, Contractor shall return such program income to Department within thirty (30) working days after receipt of Department's notification of disapproval. SECTION 7. RETENTION AND ACCESSIBILITY OF RECORDS A. Contractor shall maintain fiscal records and supporting documentation for all expenditures of funds made under this contract in a manner which conforms to OMB Circular A-87, the Management Standards, and this contract. Contractor shall comply with the retention and custodial requirements for records as set forth in Attachment C of OHB Circular A-I02, as supplemented by Section 5.154 of the Management Standards. B. Contractor shall give the United States Department of Housing and Urban Development, the Inspector General, the Comptroller General of the United States, the Auditor of the State of Texas, and Department, or any of their duly authorized representatives, access to and the right to examine all books, accounts, records, reports, files, and other papers, things, or property belonging to or in use by Contractor pertaining to this contract. Such rights to access shall continue as long as the records are retained by Contractor. Contractor agrees to maintain such records in an accessible location. C. Contractor shall include the substance of this Section 7 in all subcontracts. SECTION 8. REPORTING REQUIREMENTS A. Contractor shall submit to Department such reports on the operation and performance of this contract as may be required by Department including but not limited to the reports specified in this Section 8. Page 4 of 14 Pages