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v applications for FTA Section 5307 grant funds and Florida PTBG funds. The County also agrees to provide, on an annual basis, matching funds for mass transit purposes. b. To administer and manage Section 5307 and PTRG funds: The County will prepare and submit all applicable quarterly progress reports, financial status reports, invoices, requisitions, and closeout reports for Section 5307 and PTBG funds. These submittals will be based on information provided to the County by the COA. The County agrees to reimburse the COA within 30 days of receipt of the COA's accurate monthly invoice for mass transit funding. C. To maintain an accurate inventory of capital equipment purchased with Section 5307 ` fl>nL1S: As the designated recipient of Section 5307 funds, the County will take title to all rolling stock and other capital items purchased with Section 5307 grant funds. Consistent with its approved procedures, the County will tag all capital assets and add each asset to its fixed assets inventory records. These records will be maintained and updated as necessary. An inventory of all COA Section 5307 capital purchases will be conducted at least biennially. d. To perform regular vehicle maintenance on COA vehicles: The County will establish a formal maintenance plan for each COA vehicle and will adhere to that plan. The County :will perform all preventive maintenance as scheduled and in conformance with the applicable vehicle maintenance plan. e. To provide assistance to and oversight of COA's transit activities: The County will meet with the COA on a quarterly basis to discuss transit system operations issues, including system performance, status of Section 5307 and PTBG funds utilization, other budget matters, federal requirements, routes, ridership, problems, opportunities, and other issues. Meetings will be held on the second Friday in the months of January, April, July, and October. Besides attending quarterly meetings, County staff will be available to assist the COA with any transit planning, budget, grant administration, or other issues. The County will oversee the COA's mass transit program as specified in this agreement and as otherwise necessary to ensure that the COA complies with all federal, state, and local requirements in its provision of mass transit service to Indian River County. The County will be responsible for verbal and written correspondence with the Federal Transit Administration on all matters relating to the Section 5307 grant program.