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in the case of projects where Agency has written approval from State to use in-kind contributions <br /> rather than cash to satisfy all or part ofthe matching funds requirement. <br /> <br /> j B. Agency's construe#ion phase deposit shall be 110 percent oi' Agency's share of the engineer's <br /> .estimate and shall be received prior to award of the construction contract: Any additional,balance <br /> of the deposit, -based on the actual bid must be received within 45 ,days of receipt of r5vritten <br /> notification by State of the final amount due, unless the contract is canceled. Any unnecessary <br /> balance of a cash deposit, based on the actual bid, will be refunded within 45 days of receipt by <br /> State of the Project sponsor's written request. <br /> C. Pursuant to ORS 366.425, the advance deposit may be in the form of 1) money deposited in the <br /> State Treasury (an option where a deposit is made in the Local Government Investment Pool, and <br /> an Irrevocable Limited Power of Attorney is sent to the Highway Finance ;Office), or 2) an <br /> Irrevocable Letter of Credit issued by a local bank in the name of State, or 3) cash. <br /> D. Agency may satisfy all or part of any matching funds requirements by use of in-kind <br /> contributions rather than Dash when prior written approval has been given by State. <br /> 25. If the estimated cost exceeds the total matched federal funds available, Agency shall deposit its share <br /> of herequired matching funds, plus 100 percent of all costs in excess of the total matched federal <br /> :funds.. Agency shall also pay 100 percent of the cost of any- item in which F1-IWA will not <br /> participate. Tf Agency has not repaid any non-participating cost, future allocations of federal funds, <br /> or allocations of State Highway Trust Funds, to that Agency may be withheld to pay the <br /> non-participating costs. If State approves processes, procedures, or contract administration outside <br /> the Local Agency Guidelines that result in items being declared nonparticipating, those items will <br /> not result in the withholding of Agency's future allocations of federal funds or the future allocations <br /> of State Highway Trust Funds. <br /> 26. Costs incurred by State and Agency for services performed in connection with any phase of the <br /> Project shall be charged to the Project, unless otherwise mutually agreed-upon. <br /> 27. If Agency makes a written request for the cancellation of a federal-aid project; Agency shall bear 100 <br /> percent of all costs as of the date of cancellatio». If State was the sole cause of the cancellation, <br /> State shall bear 1.00 percent of all casts incurred. If it is determined that the cancellation was caused <br /> by third parties ar circumstances beyond .the control of State or Agency,. Agency shall bear all <br /> development costs, whether incurred by State or Agency, either directly or through contract services, <br /> and State shall bear any State administrative costs incurred. After settlement of payments, State shall <br /> deliver surveys, maps, .field notes, and all other data to Agency. <br /> 28. Agency shall follow requirements of the dingle Audit Act. The requirements stated in the Single <br /> Audit Act must be followed by those local governments and non-profit organizations .receiving <br /> $500,000 or .more in federal funds: The Single Audit Act of 1984, PL 9&502 as amended by PL <br /> 104-156, described in "OMB CIRCULAR NO, A-133", requires local governments and non-profit <br /> organizations to obtain an audit that includes internal controls and compliance with federal laws and <br /> regulations of all federally-funded programs in which the local agency participates. 'The cost of this <br /> audit can be partially prorated to the federal program. <br /> STDPRO-2005.doc 5 <br /> Rev. 3-22-05 <br /> <br />