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525-010.40 <br />CONSTRUCTION <br />OGC - 11/03 <br />Page 3 of 12 <br />For any amounts determined to be ineligible for federal reimbursement for which the Department has advanced payment, <br />the Agency shall promptly reimburse the Department for all such amounts within 90 days of written notice. <br />4.00 Project Estimate and Disbursement Schedule: Prior to the execution of this Agreement, a project schedule of <br />funding, shall be prepared by the Agency and approved by the Department. The Agency shall maintain said schedule of <br />funding, carry out the project and shall incur obligations against and make disbursements of project funds only in <br />conformity with the latest approved schedule of funding for_the project. The schedule of funding may be revised by mutual <br />written agreement between the Department and the Agency. If revised, a copy of the revision should be forwarded to the <br />Department's Comptroller and to the Department's Federal -Aid Program Office. No increase or decrease shall be effective <br />unless it complies with fund participation requirements established in Exhibit "B" of this Agreement and is approved by the <br />Department's Comptroller. <br />5.00 Records: <br />5.01 Establishment and Maintenance of Accounting Records: Records of costs incurred under terms of this <br />Agreement shall be maintained and made available upon request to the Department at all times during the period of this <br />Agreement and for five(5) years after final payment is made. Copies of these documents and records shall be furnished <br />to the Department upon request. Records of costs incurred includes the Agency's general accounting records and the <br />project records, together with supporting documents and records, of the Agency and all subcontractors performing work <br />on the project and all other records of the Agency and subcontractors considered necessary by the Department for a <br />proper audit of costs. If any litigation, claim, or audit is started before the expiration of the five(5) year period, the records <br />shall be retained until all litigation, claims, or audit findings involving the records have been resolved. <br />5.02 Costs Incurred for the Project: The Agency shall charge to the project account all eligible costs of the project. <br />Costs in excess of the latest approved schedule of funding or attributable to actions which have not received the required <br />approval of the Department shall not be considered eligible costs. <br />5.03 Documentation of Project Costs: All costs charged to the project, including any approved services contributed by <br />the Agency or others, shall be supported by properly executed payrolls, time records, invoices, contracts or vouchers <br />evidencing in proper detail the nature and propriety of the charges. - <br />5.04 Audit Reports: Recipients of Federal and State funds are to have audits done annually using the following criteria: <br />Federal awards are to be identified using the Catalog of Federal Domestic Assistance (CFDA) title and number, award <br />number and year, and name of the awarding federal agency. State awards will be identified using the Catalog of State <br />Financial Assistance (CSFA) title and number, award number and year, and name of the awarding State Agency. <br />In the event that a recipient expends $300,000 or more in federal awards in its fiscal year, the recipient must have a single <br />or program specific audit conducted in accordance with the United States Office of Management and Budget (OMB) <br />Circular A-133. <br />If a recipient expends less than $300,000 in federal awards during its fiscal year, an audit conducted in accordance with <br />the OMB Circular A-133 is not required: If a recipient expends less than $300,000 in federal awards during its fiscal year <br />and elects to have an audit conducted in accordance with OMB Circular A-133, the cost of the audit must be paid from <br />non-federal funds. <br />Reporting Packages and management letters generated from audits conducted in accordance with OMB Circular <br />A-133 shall be submitted to the awarding FDOT office, by the recipient, within 30 days of receiving it. The aforementioned <br />items are to be received by the appropriate FDOT office no later than 9 months after the end of the recipient's fiscal year. <br />