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City of Santa Ana <br />Master Agreement No, 64AO274 <br />Page 6 of 26 <br />TCR interest earnings may be spent on the PROJECT. Interest earned shall be recorded <br />and documented from the time the TCR finds are first deposited in RE, CIPIENT's <br />account until all the approved TCR advance funds have been expended or returned to <br />STATE together with all accrued interest. Interest earned shall be reported to <br />STATE's Project Coordinator on an annual basis and upon the final PROJECT <br />payment when interest earnings, overpayments, and unexpended advanced TCR funds <br />shall be returned to STATE no later than thirty (30) days after PROJECT completion <br />or termination of the PROGRAM SUPPLEMENT, whichever is first in time. <br />(4) Advanced finds are to be expended only as indicated in the approved TCR Application. <br />RECIPIENT must be able to document the expenditures/disbursement of funds <br />advanced to only pay for actual allowable PROJECT costs incurred, <br />(5) Except as expressly allowed hereinbelow, non-TCR funds and TCR project funds not <br />authorized for advance payment can only be released by STATE as reimbursement of <br />actual allowable PROJECT costs already incurred and paid for by RECIPIENT no <br />earlier than the effective date of this AGREEMENT and not incurred beyond the <br />AGREEMENT/PROGRAM SUPPLEMENT Termination Date. <br />(6) Where advance payments are authorized in a PROGRAM SUPPLEMENT, <br />RECIPIENT must report and document the expenditure/disbursement of funds <br />advanced to pay for actual eligible PROJECT costs incurred, at least quarterly, using a <br />Progress Payment Voucher to be approved by STATE's District Project Administrator. <br />C. Expedited Payments <br />Should RECIPIENT have a valid Memorandum of Understanding (MOU) for "Expedited <br />Payment" on file with STATE's Accounting Service Center, RECIPIENT will, not more <br />frequently than as authorized by that MOU, prepare and submit to STATE an Expedited <br />Payment Invoice for reimbursements that are consistent with that MOU, this AGREEMENT, and <br />the applicable PROGRAM SUPPLEMENT. Expedited Payments are subject to policies <br />established in the Caltrans Accounting Manual. One tine payments and final payments eligible <br />for expedited pay pursuant to this Section will have ten percent (10%) of each invoice amount <br />withheld until PROJECT completion and STATE has evaluated RECIPIENT's performance <br />and made a determination that all requirements assumed under this AGREEMENT and the <br />relevant PROGRAM SUPPLEMENT have been satisfactorily fulfilled by RECIPIENT. <br />D, Advance Expenditure of Local Funds <br />Government Code section 14529.17 (AB 872) allows public agencies to expend their own funds <br />on certain programmed projects prior to the CTC's allocation of funds, and, upon receipt of CTC <br />approval, to then seek reimbursement for those allowable prior expenditures following execution <br />of a PROGRAM SUPPLEMENT wherein STATE acknowledges and accepts those statutorily <br />authorized prior expenditures as a credit towards a required RECIPIENT match, (if any) or as <br />eligible PROJECT expenditures for reimbursement. <br />Revised December 23,2020 <br />