Common use of Administration of Funds Clause in Contracts

Administration of Funds. A. Funding shall be paid to Sub-grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee and Sub-grantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes. B. The amount of CSBG funding that the Sub-grantee uses for CSBG administrative costs shall be no more than 20%. For the purposes of this grant, administrative costs are those related to the general management of the Sub-grantee’s organization, such as strategic direction, Board development, Executive Director functions, accounting, budgeting, personnel, procurement, and legal services. C. The parties agree that IHCDA’s payment through this Agreement is subject to and conditioned upon the availability of funds. If funds are reduced during the term of this Agreement, IHCDA is under no obligation to make payment hereunder, except to the extent that funds are available. D. Sub-grantee shall maintain financial and accounting records which identify costs attributable to each ACTIVITY DESCRIPTION specified in ATTACHMENT A. Sub- grantee shall further maintain annual, written cost methodologies, which identify procedures for attributing costs to each ACTIVITY DESCRIPTION. More restrictive fiscal accountability may be required of Sub-grantee by IHCDA should IHCDA determine that Sub-grantee is financially unstable, has a history of poor accountability, or has a management system which does not meet the standards required by IHCDA or the United States Government. E. All payments shall be made in arrears in conformance with IHCDA fiscal policies and procedures and, as required by Indiana Code § 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Auditor of State. F. Sub-grantee shall maintain the funds received from IHCDA pursuant to this Agreement in an identifiable bookkeeping account and shall use the funds solely for the purposes set forth in this Agreement, in accordance with the terms of this Agreement and ATTACHMENT A. G. Sub-grantee agrees to follow generally accepted accounting procedures and practices which sufficiently and properly reflect all costs incurred by Sub-grantee pursuant to this Agreement. Sub-grantee shall manage all funds received through this Agreement in accordance with the applicable cost principles described in subpart E of 45 CFR 75. H. Sub-grantee shall submit to IHCDA, each calendar month or more frequently, properly completed claims for reimbursement of eligible expenses paid by Sub-grantee pursuant to this Agreement. All reimbursements shall be paid in arrears by IHCDA. Claims must include the appropriate documentation so that the Sub-grantee may be reimbursed for expenditures that it made pursuant to this Agreement. Claims must be submitted using Authority Online through the Indiana Housing Online Management System and pursuant to instructions issued by IHCDA. I. No costs may be incurred against this Agreement by Sub-grantee before or after the effective dates specified on ATTACHMENT A. Claims should be submitted to IHCDA within forty-five (45) calendar days after the date costs are incurred. All final claims and reports must be submitted to IHCDA within forty-five (45) calendar days after the expiration of the effective dates specified on ATTACHMENT A or the termination of this Agreement, or IHCDA may deny payment. J. Sub-grantee shall liquidate all outstanding obligations properly incurred during the term of this Agreement no later than forty-five (45) calendar days after the expiration of the effective dates specified in ATTACHMENT A, or termination of this Agreement. K. Sub-grantee shall, upon written demand by IHCDA, be required to repay IHCDA all sums paid by IHCDA to Sub-grantee for which adequate fiscal and/or service delivery documentation is not in existence for any time period audited. If an audit or review of Sub-grantee results in an audit exception or cost disallowance, IHCDA shall have the right to set off such amount against current or future allowable claims, demand cash repayment, or withhold payment of current claims in a like amount pending resolution between the parties of any disputed amount. L. IHCDA may withhold payment to Sub-grantee if a claim submitted by Sub-grantee is inaccurate or if Sub-grantee has not complied with the claim preparation instructions issued by IHCDA. IHCDA will notify Sub-grantee of any error in the claims submitted so Sub-grantee may make the corrections or revisions necessary for payment.

Administration of Funds. A. Funding shall be paid to Sub-grantee Grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee Grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee Grantee and Sub-granteeGrantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes. B. The amount of CSBG funding from all appropriate federal sources that the Sub-grantee Grantee uses for CSBG administrative costs the planning and administration of the CSBG-D grant shall be a percentage set by IHCDA. In no more than 20%. For event, however, shall the purposes total amount of this grant, administrative costs are those related funding awarded to Grantee under the general management “ACTIVITY DESCRIPTION” of “ADMINISTRATION” exceed the Sub-grantee’s organization, such as strategic direction, Board development, Executive Director functions, accounting, budgeting, personnel, procurement, and legal servicesamount listed in the Application approved by IHCDA. C. The parties agree that IHCDA’s payment through this Agreement is subject to and conditioned upon the availability of funds. If funds are reduced during the term of this Agreement, IHCDA is under no obligation to make payment hereunder, except to the extent that funds are available. D. Sub-grantee Grantee shall maintain financial and accounting records which identify costs attributable to each ACTIVITY DESCRIPTION specified in ATTACHMENT A. Sub- grantee Grantee shall further maintain annual, written cost methodologies, approved by IHCDA, which identify procedures for attributing costs to each ACTIVITY DESCRIPTION. More restrictive fiscal accountability may be required of Sub-grantee Grantee by IHCDA should IHCDA determine that Sub-grantee Grantee is financially unstable, has a history of poor accountability, or has a management system which does not meet the standards required by IHCDA or the United States Government. E. All payments shall be made in arrears in conformance with IHCDA fiscal policies and procedures and, as required by Indiana Code § 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Auditor of State. F. Sub-grantee Grantee shall maintain the funds received from IHCDA pursuant to this Agreement in an identifiable bookkeeping account and shall use the funds solely for the purposes set forth in this Agreement, in accordance with the terms of this Agreement and ATTACHMENT A. G. Sub-grantee Grantee agrees to follow generally accepted accounting procedures and practices which sufficiently and properly reflect all costs incurred by Sub-grantee Grantee pursuant to this Agreement. Sub-grantee Grantee shall manage all funds received through this Agreement in accordance with the revised versions of the applicable cost principles described identified in subpart E Office of 45 CFR 75Management and Budget Circulars A-87 (Government Entities) and A-122 (Nonprofit Organizations), now reported at 2 C.F.R. 225, 230. H. Sub-grantee Grantee shall submit to IHCDA, each calendar month or more frequentlyat least monthly, properly completed claims for reimbursement of eligible expenses paid costs incurred by Sub-grantee pursuant to this Agreement. All reimbursements shall be paid in arrears by IHCDA. Claims must include the appropriate documentation so that the Sub-grantee may be reimbursed for expenditures that it made pursuant to Grantee under this Agreement. Claims must shall be submitted using Authority Online through the Indiana Housing Online Management System on forms provided by IHCDA and pursuant to instructions issued by IHCDA. I. No costs may be incurred against this Agreement by Sub-grantee Grantee before or after the effective dates specified on ATTACHMENT A. Claims should be submitted to IHCDA within forty-forty five (45) calendar days after the date costs are incurred. All final claims and reports must be submitted to IHCDA within forty-forty five (45) calendar days after the expiration of the effective dates specified on ATTACHMENT A or the termination of this Agreement, or IHCDA may deny payment. J. Sub-grantee Grantee shall liquidate all outstanding obligations properly incurred during the term of this Agreement no later than forty-forty five (45) calendar days after the expiration of the effective dates specified in ATTACHMENT A, or termination of this Agreement. K. Sub-grantee Grantee shall, upon written demand by IHCDA, be required to repay IHCDA all sums paid by IHCDA to Sub-grantee Grantee for which adequate fiscal and/or service delivery documentation is not in existence for any time period audited. If an audit or review of Sub-grantee Grantee results in an audit exception or cost disallowance, IHCDA shall have the right to set off such amount against current or future allowable claims, demand cash repayment, or withhold payment of current claims in a like amount pending resolution between the parties of any disputed amount. L. IHCDA may withhold payment to Sub-grantee Grantee if a claim submitted by Sub-grantee Grantee is inaccurate or if Sub-grantee Grantee has not complied with the claim preparation instructions issued by IHCDA. IHCDA will notify Sub-grantee Grantee of any error in the claims submitted so Sub-grantee Grantee may make the corrections or revisions necessary for payment. M. Grantee agrees that its costs shall be reported in conformance with Office of Community Services, Division of State Assistance CSBG Information Memo #37 and IHCDA Program Guidance on Cost Allowability, regarding the definition and allowability of direct and administrative costs.

Administration of Funds. A. Funding shall be paid to Sub-grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee and Sub-Sub- grantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes. B. The amount of CSBG funding from all appropriate federal sources that the Sub-grantee uses for the planning and administration of the CSBG administrative costs grant shall be a percentage set by IHCDA. In no more than 20%. For event, however, shall the purposes total amount of this grant, administrative costs are those related funding awarded to Sub- grantee under the general management “ACTIVITY DESCRIPTION” of “ADMINISTRATION” exceed the Sub-grantee’s organization, such as strategic direction, Board development, Executive Director functions, accounting, budgeting, personnel, procurement, and legal servicespercentage listed on the scale below. C. The parties agree that IHCDA’s payment through this Agreement is subject to and conditioned upon the availability of funds. If funds are reduced during the term of this Agreement, IHCDA is under no obligation to make payment hereunder, except to the extent that funds are available. D. Sub-grantee shall maintain financial and accounting records which identify costs attributable to each ACTIVITY DESCRIPTION specified in ATTACHMENT A. Sub- Sub-grantee shall further maintain annual, written cost methodologies, which identify procedures for attributing costs to each ACTIVITY DESCRIPTION. More restrictive fiscal accountability may be required of Sub-grantee by IHCDA should IHCDA determine that Sub-grantee is financially unstable, has a history of poor accountability, or has a management system which does not meet the standards required by IHCDA or the United States Government. E. All payments shall be made in arrears in conformance with IHCDA fiscal policies and procedures and, as required by Indiana Code § 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Auditor of State. F. Sub-grantee shall maintain the funds received from IHCDA pursuant to this Agreement in an identifiable bookkeeping account and shall use the funds solely for the purposes set forth in this Agreement, in accordance with the terms of this Agreement and ATTACHMENT A. G. Sub-grantee agrees to follow generally accepted accounting procedures and practices which sufficiently and properly reflect all costs incurred by Sub-grantee pursuant to this Agreement. Sub-grantee shall manage all funds received through this Agreement in accordance with the applicable cost principles described in subpart E of 45 CFR 75. H. Sub-grantee shall submit to IHCDA, each calendar month or more frequently, IHCDA properly completed claims for reimbursement of eligible expenses paid by Sub-grantee pursuant to this Agreement. All reimbursements shall be paid in arrears by IHCDA. Claims must include the appropriate documentation so that the Sub-grantee may be reimbursed for expenditures that it made pursuant to this Agreement. Claims must be submitted using Authority Online through the Indiana Housing Online Management System and pursuant to instructions issued by IHCDA. I. No costs may be incurred against this Agreement by Sub-grantee before or after the effective dates specified on ATTACHMENT A. Claims should be submitted to IHCDA within forty-five (45) calendar days after the date costs are incurred. All final claims and reports must be submitted to IHCDA within forty-five (45) calendar days after the expiration of the effective dates specified on ATTACHMENT A or the termination of this Agreement, or IHCDA may deny payment. J. Sub-grantee shall liquidate all outstanding obligations properly incurred during the term of this Agreement no later than forty-five (45) calendar days after the expiration of the effective dates specified in ATTACHMENT A, or termination of this Agreement. K. Sub-grantee shall, upon written demand by IHCDA, be required to repay IHCDA all sums paid by IHCDA to Sub-grantee for which adequate fiscal and/or service delivery documentation is not in existence for any time period audited. If an audit or review of Sub-grantee results in an audit exception or cost disallowance, IHCDA shall have the right to set off such amount against current or future allowable claims, demand cash repayment, or withhold payment of current claims in a like amount pending resolution between the parties of any disputed amount. L. IHCDA may withhold payment to Sub-grantee if a claim submitted by Sub-grantee is inaccurate or if Sub-grantee has not complied with the claim preparation instructions issued by IHCDA. IHCDA will notify Sub-grantee of any error in the claims submitted so Sub-grantee may make the corrections or revisions necessary for payment.

Administration of Funds. A. Funding shall be paid to Sub-grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee and Sub-grantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes. B. The amount of CSBG funding that the Sub-grantee uses for CSBG administrative costs shall be no more than 20%. For the purposes of this grant, administrative costs are those related to the general management of the Sub-grantee’s organization, such as strategic direction, Board development, Executive Director functions, accounting, budgeting, personnel, procurement, and legal services. C. The parties agree that IHCDA’s payment through this Agreement is subject to and conditioned upon the availability of funds. If funds are reduced during the term of this Agreement, IHCDA is under no obligation to make payment hereunder, except to the extent that funds are available. D. Sub-grantee shall maintain financial and accounting records which identify costs attributable to each ACTIVITY DESCRIPTION specified in ATTACHMENT A. Sub- grantee shall further maintain annual, written cost methodologies, which identify procedures for attributing costs to each ACTIVITY DESCRIPTION. More restrictive fiscal accountability may be required of Sub-grantee by IHCDA should IHCDA determine that Sub-grantee is financially unstable, has a history of poor accountability, or has a management system which does not meet the standards required by IHCDA or the United States Government. E. All payments shall be made in arrears in conformance with IHCDA fiscal policies and procedures and, as required by Indiana Code § 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Auditor of State. F. Sub-grantee shall maintain the funds received from IHCDA pursuant to this Agreement in an identifiable bookkeeping account and shall use the funds solely for the purposes set forth in this Agreement, in accordance with the terms of this Agreement and ATTACHMENT A. G. Sub-grantee agrees to follow generally accepted accounting procedures and practices which sufficiently and properly reflect all costs incurred by Sub-grantee pursuant to this Agreement. Sub-grantee shall manage all funds received through this Agreement in accordance with the applicable cost principles described in subpart E of 45 CFR 75. H. Sub-grantee shall submit to IHCDA, each calendar month or more frequently, properly completed claims for reimbursement of eligible expenses paid by Sub-grantee pursuant to this Agreement. All reimbursements shall be paid in arrears by IHCDA. Claims must include the appropriate documentation so that the Sub-grantee may be reimbursed for expenditures that it made pursuant to this Agreement. Claims must be submitted using Authority Online through the Indiana Housing Online Management System and pursuant to instructions issued by IHCDA. I. No costs may be incurred against this Agreement by Sub-grantee before or after the effective dates specified on ATTACHMENT A. Claims should be submitted to IHCDA within forty-five (45) calendar days after the date costs are incurred. All final claims and reports must be submitted to IHCDA within forty-five (45) calendar days after the expiration of the effective dates specified on ATTACHMENT A or the termination of this Agreement, or IHCDA may deny payment. J. Sub-grantee shall liquidate all outstanding obligations properly incurred during the term of this Agreement no later than forty-five (45) calendar days after the expiration of the effective dates specified in ATTACHMENT A, or termination of this Agreement. K. Sub-grantee shall, upon written demand by IHCDA, be required to repay IHCDA all sums paid by IHCDA to Sub-grantee for which adequate fiscal and/or service delivery documentation is not in existence for any time period audited. If an audit or review of Sub-grantee results in an audit exception or cost disallowance, IHCDA shall have the right to set off such amount against current or future allowable claims, demand cash repayment, or withhold payment of current claims in a like amount pending resolution between the parties of any disputed amount. L. IHCDA may withhold payment to Sub-grantee if a claim submitted by Sub-grantee is inaccurate or if Sub-grantee has not complied with the claim preparation instructions issued by IHCDA. IHCDA will notify Sub-grantee of any error in the claims submitted so Sub-grantee may make the corrections or revisions necessary for payment.

Administration of Funds. A. Funding shall be paid to Sub-grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee and Sub-grantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes. B. . The amount of CSBG funding that the Sub-grantee uses for CSBG administrative costs shall be no more than 20%. For the purposes of this grant, administrative costs are those related to the general management of the Sub-grantee’s organization, such as strategic direction, Board development, Executive Director functions, accounting, budgeting, personnel, procurement, and legal services. C. . The parties agree that IHCDA’s payment through this Agreement is subject to and conditioned upon the availability of funds. If funds are reduced during the term of this Agreement, IHCDA is under no obligation to make payment hereunder, except to the extent that funds are available. D. . Sub-grantee shall maintain financial and accounting records which identify costs attributable to each ACTIVITY DESCRIPTION specified in ATTACHMENT A. Sub- Sub-grantee shall further maintain annual, written cost methodologies, which identify procedures for attributing costs to each ACTIVITY DESCRIPTION. More restrictive fiscal accountability may be required of Sub-grantee by IHCDA should IHCDA determine that Sub-grantee is financially unstable, has a history of poor accountability, or has a management system which does not meet the standards required by IHCDA or the United States Government. E. . All payments shall be made in arrears in conformance with IHCDA fiscal policies and procedures and, as required by Indiana Code § 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Auditor of State. F. . Sub-grantee shall maintain the funds received from IHCDA pursuant to this Agreement in an identifiable bookkeeping account and shall use the funds solely for the purposes set forth in this Agreement, in accordance with the terms of this Agreement and ATTACHMENT A. G. A. Sub-grantee agrees to follow generally accepted accounting procedures and practices which sufficiently and properly reflect all costs incurred by Sub-grantee pursuant to this Agreement. Sub-grantee shall manage all funds received through this Agreement in accordance with the applicable cost principles described in subpart E of 45 CFR 75. H. . Sub-grantee shall submit to IHCDA, each calendar month or more frequently, properly completed claims for reimbursement of eligible expenses paid by Sub-grantee pursuant to this Agreement. All reimbursements shall be paid in arrears by IHCDA. Claims must include the appropriate documentation so that the Sub-grantee may be reimbursed for expenditures that it made pursuant to this Agreement. Claims must be submitted using Authority Online through the Indiana Housing Online Management System and pursuant to instructions issued by IHCDA. I. . No costs may be incurred against this Agreement by Sub-grantee before or after the effective dates specified on ATTACHMENT A. Claims should be submitted to IHCDA within forty-five (45) calendar days after the date costs are incurred. All final claims and reports must be submitted to IHCDA within forty-five (45) calendar days after the expiration of the effective dates specified on ATTACHMENT A or the termination of this Agreement, or IHCDA may deny payment. J. . Sub-grantee shall liquidate all outstanding obligations properly incurred during the term of this Agreement no later than forty-five (45) calendar days after the expiration of the effective dates specified in ATTACHMENT A, or termination of this Agreement. K. . Sub-grantee shall, upon written demand by IHCDA, be required to repay IHCDA all sums paid by IHCDA to Sub-grantee for which adequate fiscal and/or service delivery documentation is not in existence for any time period audited. If an audit or review of Sub-grantee results in an audit exception or cost disallowance, IHCDA shall have the right to set off such amount against current or future allowable claims, demand cash repayment, or withhold payment of current claims in a like amount pending resolution between the parties of any disputed amount. L. . IHCDA may withhold payment to Sub-grantee if a claim submitted by Sub-grantee is inaccurate or if Sub-grantee has not complied with the claim preparation instructions issued by IHCDA. IHCDA will notify Sub-grantee of any error in the claims submitted so Sub-grantee may make the corrections or revisions necessary for payment. Sub-grantees may use either an indirect cost rate or a direct cost allocation plan. A proposal to establish a cost allocation plan or an indirect (F&A) cost rate must be certified by the Sub-grantee using the Certificate of Cost Allocation Plan or Certificate of Indirect Costs as set forth in appendices II through VII, and appendix IX to 45 CFR 75. The certificate must be signed on behalf of the Sub-grantee by an individual at a level no lower than vice president or chief financial officer of the Sub-grantee that submits the proposal, each time the plan is modified. The certificate must be maintained onsite by the Sub-grantee. According to 45 CFR 75.414(f), if the Sub-grantee chooses to use an indirect cost rate but has never received a negotiated indirect cost rate, it may elect to charge a deminimis rate of 10% of modified total direct costs (MTDC) as defined in 45 CFR 75. As described in 45 CFR 75.403 Factors affecting allowability of costs, regardless of whether a Sub-grantee uses an indirect cost rate or a direct cost allocation plan, costs must be consistently charged as either indirect or direct costs but may not be double charged or inconsistently charged as both. If an indirect cost plan is chosen, this methodology, once elected, must be used consistently for all Federal awards until such time as the Sub-grantee chooses to negotiate for a rate, which the Sub-grantee may apply to do at any time.