Common use of Repayment of Funds Clause in Contracts

Repayment of Funds. (1) Federally Required Repayments or Penalties. Contractor shall be responsible for federal disallowances or penalties resulting from any disallowance or costs for cases that are claimed through or related to this IAC that DFPS must: (1) repay any Title IV-E funds, or (2) make any related penalty or other payments. In the event that DFPS is required to make such payment(s), Contractor shall repay the costs associated with all cases that are claimed through this contract and any other penalty. DPFS may immediately deduct/recoup such entire payment owed by Contractor against the amounts otherwise payable from DFPS to Contractor to the extent and until such entire payment amount has been credited. DFPS shall notify Contractor of the reason for and calculation of, as well as any such deductions of any such payment amount for which Contractor is responsible. (2) Calculation of Repayment. Contractor's share of any such required federal repayment or penalty shall be equal to the sum of: (i) all disallowed costs associated with cases claimed through this IAC plus (ii) a proportionate share of any DFPS administrative or programmatic expenses disallowed as a result of extrapolated audit exceptions. The proportionate share of such expenses shall be determined using a percentage: the numerator of which is the aggregate sum of disallowed costs pertaining to Contractor claims during the relevant audit period, and the denominator of which is the aggregate sum of disallowed costs for all Title IV- E funds provided to DFPS during the same audit period.

Repayment of Funds. (1) Federally Required Repayments or Penalties. Contractor shall be responsible for federal disallowances or penalties resulting from any disallowance or costs for cases that are claimed through or related to this IAC that DFPS must: (1) repay any Title IV-E funds, or (2) make any related penalty or other payments. In the event that DFPS is required to make such payment(s), Contractor shall repay the costs associated with all cases that are claimed through this contract and any other penalty. DPFS may immediately deduct/recoup such entire payment owed by Contractor against the amounts otherwise payable from DFPS to Contractor to the extent and until such entire payment amount has been credited. DFPS shall notify Contractor of the reason for and calculation of, as well as any such deductions of any such payment amount for which Contractor is responsible. (2) Calculation of Repayment. Contractor's share of any such required federal repayment or penalty shall be equal to the sum of: (i) all disallowed costs associated with cases claimed through this IAC plus (ii) a proportionate share of any DFPS administrative or programmatic expenses disallowed as a result of extrapolated audit exceptions. The proportionate share of such expenses shall be determined using a percentage: the numerator of which is the aggregate sum of disallowed costs pertaining to Contractor claims during the relevant audit period, and the denominator of which is the aggregate sum of disallowed costs for all Title IV- IV E funds provided to DFPS during the same audit period.