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City of San Leandro <br />14-HRPP-10372 <br />Page 2of2 <br />EXHIBIT B <br />D. A separate checking account for the Grant funds is not required. However, the <br />Contractor shall deposit Grant funds in an interest bearing checking or savings account, <br />or the State may require the Contractor to deposit all Grant funds into a segregated <br />account in an institution whose deposits are insured by the federal or state government. <br />All interest earned from the deposit of Grant funds shall be used for allowable, Program <br />purposes and accounted dor to the State. All funds not expended within 90 days of <br />receipt, or by June 30, 2017, as applicable, shall be returned to the State with accrued <br />interest. <br />E. The Contractor shall make a good faith effort to minimize the number of disbursement <br />requests to the State by anticipating and requesting in advance the maximum amount of <br />funds that can be expended within the (ninety) 90 day time frame. <br />F. The Contractor shall inform the State within a reasonable amount of time in the event that <br />expenditures related to an authorized project(s) are less than the total Grant award. The <br />Contractor may expend the balance of Grant funds on additional capital assets projects, <br />upon written State approval. Contractor shall provide the State with a letter of request <br />that describes the additional project(s) to be funded. <br />G. The Contractor shall immediately inform the State, no later than December 31, 2016, if <br />the Contractor anticipates it will not be able to expend all Grant funds by June 30, 2017. <br />H. The Contractor is responsible for maintaining records which fully disclose the activities <br />funded by the Grant. Adequate documentation of each transaction shall be maintained to <br />permit the determination, through an audit if requested by the State, of the accuracy of <br />the records and the allowability of expenditures charged to Grant funds. If the allowability <br />of expenditure cannot be determined because records or documentation are inadequate, <br />the expenditure may be disallowed, and the State shall determine the reimbursement <br />method for the amount disallowed. The State's determination of the allowability of any <br />expense shall be final, absent fraud, mistake or arbitrariness. <br />Any Grant funds remaining unexpended as of June 30, 2017, must be returned to the <br />State with accrued interest. Checks shall be made payable to the Department of Housing <br />and Community Development (HCD) and shall be mailed to the Department at the <br />address below, no later than July 31, 2017. <br />Department of Housing and Community Development <br />Accounting Division <br />2020 W. EI Camino Ave. <br />P.O. Box 952050 <br />Sacramento, California 94252-2050 <br />HRP Program Grant — Round 4 <br />NOFA Date: 12/10/14 <br />Rev. Date: 08/01/15 <br />Prep Date: 08/18/15 <br />