ORANGE COUNTY TRANSPORTATION AUTHORITY (OCTA) (C-3-3087)

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Exhibit B — Flow -Down Provisions Cooperative Agreement No. C-3-3087 Recipient. The ten (10) calendar days period is applicable unless a shorter period is required by applicable law. 7. Reporting a. At any time during the term of this MOU, SCAG may request additional information, as needed, to demonstrate satisfaction of all requirements identified in the MOU. b. By February 10 of each year following receipt of funding pursuant to this MOU, Sub -Recipient shall submit an Annual Report using the "Sub -Recipient Report Template," attached as Exhibit D ("Report Template"). Sub -Recipient shall submit a separate Annual Report for each Project. The Annual Report shall include, in narrative form, a description of services performed by Sub -Recipient's staff and Consultant(s) as well as progress toward completion of tasks related to the Project for the prior year, a reporting of all costs incurred for that period, and progress achieved toward the REAP 2.0 Goals and Objectives. c. When a Project is finalized, and no later than December 31, 2025, Sub -Recipient shall submit a Close -Out Report for the Project. At the time of the execution of this MOU, HCD has not provided the requirements for the Close -Out Report due to HCD by all grantees at the conclusion of the grant performance period. Therefore, the Close -Out Report format required by SCAG of Sub -Recipient is not available at this time, but will be provided when it becomes available. d. All reports submitted to SCAG shall reference the OWP Project Number (OWP No. 305- 4926.01). 8. Accounting a. Sub -Recipient shall establish and maintain an accounting system and reports that properly accumulate incurred Project costs by line. The accounting system shall conform to Generally Accepted Accounting Principles ("GAAP"), enable the determination of incurred costs as interim points of completion, and provide support for payment vouchers and invoices. b. Sub -Recipient shall establish a separate ledger account for receipts and expenditures of Project Funds and Grant Funds and maintain expenditure details in accordance with the Scopes of Work, as outlined in the most current fully executed SOW Approval Form, for each Project. c. Sub -Recipient shall maintain documentation of its completed procurements (including the use of sole source purchasing), and financial records of expenditures incurred during the course of the Projects in accordance with GAAP. 9. Allowable Uses of Grant Funds a. SCAG shall not award or disburse funds unless it determines that the Project Funds and Grant Funds shall be expended in compliance with the REAP 2.0 Goals and Objectives.