Agmt 2004 Eden Council for Hope and Opportunity ECHO Housing (2)

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4. Any failure of SUBRECIPIENT to comply with reporting provisions of the policy shall not affect coverage provided to CITY and its officers, employees, agents, and volunteers. 5. An endorsement shall state that coverage shall not be suspended, voided, canceled by either party, reduced in coverage or in limits, except after thirty (30) days' prior written notice by certified mail, return receipt requested, has been given to the City. 6.0 ADMINISTRATIVE REQUIREMENTS 6.1 Financial Management. a. Accounting Standards. The Subrecipient agrees to comply with 24 CFR Part 84 and agrees to adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred. b. Cost Principles. The Subrecipient shall administer its program in conformance with OMB Circulars A-122, "Cost Principles for Non-Profit Organizations," or A-21, "Cost Principles for Educational Institutions," as applicable for all costs incurred whether charged on a direct or indirect basis. 6.2 Documentation and Record-Keeping a. Records to be Maintained. The Subrecipient shall maintain all records required by the Federal regulations specific in 24 CFR Part 570.506, and that are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: (1) Records providing a full description of each activity undertaken; (2) Records demonstrating that each activity undertaken meets one of the National Objectives of the CDBG program; (3) Records required determining the eligibility of activities; (4) Records required to document the acquisition, improvement, use or disposition of real property acquired or improved with CDBG assistance; (5) Records documenting compliance with the fair housing and equal opportunity components of the CDBG program; (6) Financial records as required by 24 CFR Part 570.502, and 12 Agreement for Landlord Tenant Counseling Services, FY 2004-05 City of San Leandro G:1cd\all council material\2004 07-19; Consent; Fair Housing\Agreement 2004-05-FH.doc