Common use of SUBRECIPIENT’S Record Clause in Contracts

SUBRECIPIENT’S Record. SUBRECIPIENT’S records shall be sufficient to: i. Permit preparation of required reports; and ii. Permit tracking of funds to a level of expenditure adequate to establish that funds have not been used in violation of the applicable restrictions on the use of such funds; and iii. Permit the tracking of program income, or profits earned, and any costs incurred (such as stand-in costs) that are otherwise allowable except for; iv. Permit tracking and reporting of leveraging as required by SB734.