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C. Attachment C (Advance Payment—Interest Earned Memorandum), attached hereto and <br /> made a part hereof, is provided as a sample of the document generated internally each <br /> calendar quarter by the DEPARTMENT's Bureau of Finance and Accounting for <br /> agreements that authorized an advance payment. The DEPARTMENT's Grant Program <br /> Administrator shall forward such memorandum to the LOCAL SPONSOR's Project <br /> Manager, who shall be responsible for completion of the applicable interest statement details <br /> and submission to the DEPARTMENT each quarter. Interest income shall be documented <br /> by the LOCAL SPONSOR's submission of a current statement of account from the financial <br /> institution or agent where such funds are invested. Interest income shall be returned to the <br /> DEPARTMENT, within thirty (30) days following each quarter as set forth under this <br /> Agreement. This responsibility shall continue as long as advanced funds remain with the <br /> LOCAL SPONSOR or until construction is completed and a final accounting on the <br /> advanced funds is completed and the unused funds and interest due the DEPARTMENT are <br /> returned to the DEPARTMENT. Unused funds, and interest accrued on any unused portion <br /> of advanced funds which have not been remitted to the DEPARTMENT, shall be returned to <br /> the DEPARTMENT within sixty (60) days of the completion of the construction portion of <br /> this PROJECT. Unused funds advanced to the United States Army Corps of Engineers <br /> through LOCAL SPONSORS will be due sixty (60) days after the Federal final accounting <br /> has been completed. <br /> D. The parties hereto acknowledge that the State Chief Financial Officer may identify <br /> additional requirements that must be met in order for advance payment to be authorized. If <br /> additional requirements are imposed by the State Chief Financial Officer, the LOCAL <br /> SPONSOR shall be notified, in writing, by the DEPARTMENT's Grant Program <br /> Administrator regarding the additional requirements. Prior to releasing any funds, the <br /> LOCAL SPONSOR shall be required to provide a written acknowledgement to the <br /> DEPARTMENT's Grant Program Administrator of the LOCAL SPONSOR's acceptance of <br /> `*M the terms imposed by the State Chief Financial Officer for release of funds. <br /> 13. As consideration for the satisfactory completion of the eligible work identified in Attachment A and <br /> approval of the work by the DEPARTMENT, the DEPARTMENT agrees to compensate the <br /> LOCAL SPONSOR on a cost reimbursement basis. All requests for reimbursement shall be made in <br /> accordance with Attachment D (Contract Payment Requirements), attached hereto and made a <br /> part hereof, and State guidelines for allowable costs found in the Department of Financial Services' <br /> Reference Guide for State Expenditures at http://www.fldfs.com/aadir/reference%SFauide. The <br /> LOCAL SPONSOR shall submit a request for reimbursement of funds on the forms provided as <br /> Attachment E (Request for Payment, PARTS I — Imo, attached hereto and made a part hereof. <br /> These forms are to be submitted upon completion of deliverables identified in the approved Scope of <br /> Work. These forms shall be certified as accurate by the LOCAL SPONSOR's Project Manager and <br /> the LOCAL SPONSOR's Project Financial Officer and submitted to the DEPARTMENT as a <br /> payment request. All bills for amounts due under this Agreement shall be submitted in detail <br /> sufficient for a proper pre-audit and post-audit thereof. All requests for the reimbursement of travel <br /> expenses shall be based on the travel limits established in Section 112.061, Florida Statutes. A final <br /> invoice shall be due no later than thirty (30) days following the completion date of this Agreement. <br /> The DEPARTMENT will not release funds for construction activities until such time as all requisite <br /> authorizations, environmental permits, and variances, including those required pursuant to Chapters <br /> 161, 253, 258 and 373, Florida Statutes, have been obtained. The final payment will not be <br /> processed until the match requirement has been met. <br /> 14. The DEPARTMENT's Project Manager shall have thirty (30) days after receipt of each request for <br /> payment to determine that the work has been accomplished in accordance with the terms and <br /> conditions of this Agreement prior to approving the request for payment. It is understood and agreed <br /> DEP Agreement No. 14IR2 Page 4 of 12 <br /> 32 <br />