09 NCAC 03M .0703. REQUIRED CONTRACT PROVISIONS

Each contract agreement shall contain:

(1)           A specification of the purpose of the grant, services to be provided, objectives to be achieved, and expected results;

(2)           The Source of funds (federal, state, etc.) must be identified (CFDA number if applicable) and percentages included where applicable;

(3)           Account coding information sufficient to provide for tracking of the disbursement through the grantor accounting system;

(4)           Agreement to maintain all grant records for a period of five years or until all audit exceptions have been resolved, whichever is longer;

(5)           Names of all parties to the terms of the contract; for the grantee or subgrantee, including the employer/tax identification number, address, contact information, and the grantee/subgrantee fiscal year end date;

(6)           Signatures indicating authorization by all parties to the terms of the contract;

(7)           Duration of the contract, including the effective and termination dates;

(8)           Amount of the contract and schedule of payment(s);

(9)           Particular duties of the grantee;

(10)         Required reports and reporting deadlines;

(11)         Provisions for termination by mutual consent with 60 days written notice to the other party, or as otherwise provided by law;

(12)         A provision that the awarding of the grants subject to allocation and appropriation of funds to the agency for the purposes set forth in the contract;

(13)         Provision that requires reversion of unexpended funds to the agency upon termination of the contract;

(14)         A provision that requires compliance with the rules and reporting requirements outlined in this Subchapter including audit oversight by the Office of the State Auditor, the provision of access to the accounting records by both the funding entity and the Office of the State Auditor, and availability of audit work papers in the possession of any auditor of any recipient of State funding;

(15)         A clause addressing assignability and subcontracting including the following:

(a)           the grantee or subgrantee is not relieved of any of the duties and responsibilities of the original contract; and

(b)           the subgrantee agrees to abide by the standards contained in this Subchapter, and to provide all information to allow the grantee to comply with these standards.

 

History Note:        Authority G.S. 143C-6-22; 143C-6-23;

Eff. July 1, 2005.