Sec.17-31kk-5. Project financing

(a) The applicant shall submit a first payment request with the formal application, and shall submit, on forms approved by the Department, financial reports in duplicate with the second payment request and with each payment request thereafter, and upon completion of the project.

(b) Financial records shall be maintained in accordance with the Department's Manual for Grantee Accounting. These records, together with the financial reports submitted to the Department, shall provide a basis for a final independent audit.

(c) The final payment shall be made (1) after the applicant has obtained a Certificate of Occupancy for the project; (2) financial reports based on the completed program are submitted; (3) a final inspection of the facility has been made by Department staff; and (4) a Certificate of Termination, based on an independent audit supplied by the applicant, has been issued by the Department.

(Effective August 9, 1988)