Common use of Grant Requirements Clause in Contracts

Grant Requirements. a. Adhere to all guidelines applicable to federal and state grant subcontractors and recipients for fiscal record keeping, reporting and auditing including, but not limited to, the following Office of Management and Budget (OMB) Circulars where applicable:  Cost Principles for State and Local Governments, A-87  Cost Principles for Nonprofit Organizations, A-122  Institutions of Higher Education, A-21  Hospitals, (CFR Part 74, Appendix E)  For-profit (commercial) Organizations Federal  Acquisition Regulation (48 CFR Subpart 31.2) b. Provide reports, financial and audit information to the Board as requested by the Board. At a minimum, the Contractor will, no later than the seventh (7th) day of the following month, submit a monthly report to the Board showing service activity. c. Provide access to the Board, the State Examiner and the Comptroller General of the United States, or any of their duly authorized representatives’ any and all books, documents, papers and records of the Contractor which are directly pertinent to this Agreement for the purpose of making audit, examination, excerpts and transcriptions. d. Retain all records in any manner pertaining to this Agreement for three (3) years after the Board makes its final payment and all other pending matters are closed.