Agmt13 San Mateo County Transit District MOU

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_._�,�� ..._ �� __�.,, � IV. FINANCIAL: A. The DISTRICT has no obligation to provide funds in excess of$198,253 of the amount awarded to the RECIPIENT from the LTP, unless there is approval of additional grant funding for the PROJECT and both parties execute a written amendment to this MOU to reflect any additional funding. B. The DISTRICT agrees to provide LTP STA funds allocated for implementation of the PROJECT to the RECIPIENT on a reimbursement basis. C. The DISTRICT shall retain $6,000 of the $204,253 of LTP grant funding in compensation far DISTRICT administrative costs. This amount shall be deducted from the RECIPIENT's first invoice. D. The DISTRICT shall not be required to provide LTP STA funds to the RECIPIENT until after said funds are received by the DISTRICT. E. The DISTRICT agrees to make payments to the RECIPIENT on a quarterly basis in arrears of the RECIPIENT's incurring of expenses related to the PROJECT. 1. The RECIPIENT shall submit quarterly invoices to the LTP Program Administrator at GCAG within thirty (30) days after the end of each quarter for which payment is sought covering costs for PROJECT activities accomplished through the end of such quarter, not covered by previously submitted invoices. 2. The RECIPIENT shall receive sixty percent (60%) of eligible operating costs for the PROJECT in STA funds, not to exceed a total of$204,253 as stated in the revised budget in Appendix C (less the DISTRICT's administrative costs of$6,000). 3. Each quarterly invoice for these payments shall be supported by the following information: a brief narrative progress report, the total costs expended for the PROJECT during the preceding quarter, the dollar amount of STA funds requested for reimbursement, total costs expended for the PROJECT to date, the total amount paid by the DISTRICT under this MOU to date, copies of invoices and other expense records justifying the request for reimbursement, and any additional supporting data required by the DISTRICT and/or GCAG. The amount of funds requested for reimbursement in each quarterly invoice shall not exceed the proportion of LTP funds to the total cost of the PROJECT. 4. Following review and approval of the RECIPIENT's invoice by GCAG's LTP Program Administrator, the invoice will be forwarded by GCAG to the DISTRICT for payment. 5. Payment shall be made to the RECIPIENT by the DISTRICT within thirty (30) days following receipt of an approved invoice from GCAG. F. Auditing: The RECIPIENT agrees to grant the DISTRICT, the State of California, GCAG, and/or their authorized representatives access to the RECIPIENT's books and records for the purpose of verifying that funds are properly accounted for and proceeds are expended in accordance with the terms of this MOU. All documents shall be available far inspection at any time while the PROJECT is underway and for the retention period specified in below Section IV.H. ATfY/AGR/2013.098/RWC SHUTTLE MOU REV:06-13-13 VR Page 3 of 25