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guidelines and procedures to be utilized by the DEPARTMENT and <br />the GRANTEE in accounting for grant funds disbursed for the <br />PROJECT and sets forth principles for determining eligible costs, <br />supporting documentation and minimum reporting requirements. <br />Expenses representing the PROJECT costs shall be reported to the <br />DEPARTMENT and summarized on certification forms specified in the <br />PROCEDURE. All expenditures under this Agreement by the GRANTEE <br />must be directly related to the purpose of the grant. The GRANTEE <br />shall retain all records supporting PROJECT costs for three (3) <br />years after the fiscal year in which the final PROJECT payment <br />was released by the DEPARTMENT or until final resolution of <br />matters resulting from any litigation, claim, or audit that <br />started prior to the expiration of the three-year retention <br />period. The DEPARTMENT, Auditor General, State Comptroller and <br />other relevant parties shall have the right to inspect and audit <br />the GRANTEE'S records for said PROJECT. <br />6. The GRANTEE fully understands and agrees that there <br />shall be reimbursement of funds by the DEPARTMENT for any <br />obligation or expenditure for the PROJECT incurred and performed <br />for one calendar year prior to the start of the agreement period. <br />T. This Agreement shall become effective upon <br />execution by all parties. The GRANTEE shall complete <br />construction) of all PROJECT elements identified in Paragraph 2 on <br />or before Van Y)y '%1 ) �OOO The completion date shall be <br />Page 3 of 9 <br />