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Procurement Contract No. 29186 3 of 10 HUD’s IDIS financial disbursement system and in the County’s ALCO LINK accounting system. As the County must adhere to HUD’s new project based requirement for the expenditure of HOME funds, the County reserves the right to allocate costs between grant years as required to effectively administer the HOME program. 8. Funds allocated to the City for Administration, as defined by HUD and within the amounts allocated by the County to City each year, are available to the City without the requirement of an application and formal commitment. All other funding expended under this Agreement must follow the procedures outlined in this Agreement. 9. City agrees to abide by uniform administrative requirements stated in 24 CFR Part 92.505. 10. To comply with the HOME regulation that funds be spent within 15 days of disbursement, City shall request reimbursement of expenditures. In the case of a known large expense, City may request, in writing, from the County an advance of the necessary amount of the funds, which will be expended within the time allowed. The amount of each request shall be limited to the amount reasonably anticipated to be needed. 11. Loan repayments, interest or other return on City's investment of HOME funds disbursed through this contract shall be collected by City and transferred to the County within 30 days of receipt. The County will hold any such funds for additional HOME- eligible activities in City. In the case of homebuyer assistance payments, the City may retain payments for future homebuyer assistance activities funded with HOME funds in accordance with HOME regulations. 12. County and City will cooperate in the preparation of, and will furnish any and all information required for, reports to be prepared as may be required by HOME regulations including but not limited to the Consolidated Plan, the annual performance report and any quarterly reports required by County. 13. Activities and programs under this Agreement shall be governed by the policies and procedures of the HOME Consortium or as directed by the County as lead agency, in order to ensure compliance with all federal laws and regulations. C. GENERAL REQUIREMENTS 1. City and County shall maintain, on a current basis, complete records, including, but not limited to, contracts, books of original entry, source documents supporting accounting transactions, eligibility and service records as may be applicable, a general ledger, personnel and payroll records, canceled checks and related documents and records to assure proper accounting of funds and performance of this contract in accordance with HOME regulations. To the extent permitted by law, County and City will also permit access to all books, accounts or records of any kind for purposes of audit or Docusign Envelope ID: 978EEB22-95EB-4C5E-A45F-4B10C1BCA808