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a 40 2. Expenditure Reports!Reimbursement Requests must be submitted to the Grantee on a quarterly basis and are due within thirty (30) days after the end of each quarter. Progress reports must be submitted to the Grantee on a semiannual basis according to the requirements set forth in the Subgrantee's EMPA base grant for the same fiscal period. A final Close-out Report is due within forty-five (45) days after the termination of this Agreement. The Subgrantee shall not receive reimbursement for final expenditures until the final EMPA progress report is received, previous payments are audited and final approval has been made by the Grantee. 3. Any acquisitions that exceed $5,000 (each item) must have prior written approval from the Florida Division of Emergency Management (DEM) Director's Office. E. Fiscal and Program Accountability. The Subgrantee must establish fiscal control of subgrant funds and required matching expenditures as required in Federal Emergency Management Agency (FEMA) regulations and OMB Circulars. The Subgrantee acknowledges that it has full responsibility for fiscal and programmatic accountability for this subgrant. In the event the Subgrantee is unable to produce records capable of being audited without reconstruction by auditors, all funds paid under this Agreement by the Grantee to the Subgrantee shall be disallowed and subject to repayment. The accounting system established and maintained by the Subgrantee must have internal controls adequate to safeguard the assets of the Subgrantee, check the accuracy and reliability of accounting data, promote operating efficiency and ensure compliance with described management policies of this Agreement. F. Recording; and Documentation of Receipts and Expenditures. Accounting procedures must provide for an accurate and timely recording of receipt of funds by type of expenditures made from such funds and of unexpended balances. Accounting procedures must be adequate to ensure that expenditures charged to this subgrant are for allowable purposes and that documentation is readily available to verify that such charges are accurate. Failure to create and maintain said documentation may result in the disallowance and recovery of funds. G. Unexpended Funds. Unexpended funds which are reflected on the final Close-out Report. referred to in Paragraph H.D. above will automatically revert to the Grantee, and the Grantee reserves the right to unilaterally reobligate such funds. H. Obligation of Grant Funds. Subgrant funds shall not be obligated prior to the effective date, or subsequent to the termination date, of the subgrant period. Obligations outstanding as of the termination date shall be liquidated within thirty (30) days. Such obligations must be related to goods or services provided and utilized within the subgrant period.