Louisville SBDC Local Support

A. Grantee agrees to use the Grant Funds to provide the Business Assistance Services set forth in the Work Program and Budget, attached hereto as Exhibit A. B. Grantee agrees to provide full written narrative reports before October 31st and April 30th to Louisville Metro detailing its activities pursuant to this Agreement. Grantee further agrees to provide written dashboard reports before January 30th and July 31st to Louisville Metro detailing its activities pursuant to this Agreement. C. Detailed invoices shall be presented semi-annually, which invoices shall indicate a general accounting of the hours expended in service under this Agreement and out-of-pocket expenses. Copies of invoices or receipts for out-of-pocket expenses and other third-party charges must be included with Grantee's invoice. In the event payment is made in lump sum at the end of the term of this Agreement, Grantee's final invoice shall indicate an accounting of hours expended as described above. D. Grantee agrees to maintain, during the term of the Agreement, and retain not less than five years after completion thereof, complete and accurate records of all the Grantee's costs which are chargeable to Louisville Metro under this Agreement as well as all other funding sources for the Business Assistance Services. Louisville Metro shall have the right, at any reasonable time, to inspect and audit those records by authorized representatives of its own or any public accounting firm selected by it. The records thus to be maintained and retained by the Grantee shall include (without limitation): (a) all payroll records accounting for total time distribution of Grantee's employees working full or part time on the Business Assistance Services (to permit tracing to payrolls and related tax returns) or those individuals contracted to provide services, as well as cancelled payroll checks, or signed receipts for payroll payments in cash; (b) invoices for purchases, receiving and issuing documents, and all the inventory records for Grantee's stores, stock or capital items; and (c) paid invoices and cancelled checks for materials purchased and for subcontractors; and any other third party charges. In addition, Grantee will retain all records pertinent to the Business Assistance Services pertaining to participant records, statistical records, and supporting documents for the same period of time. Grantee will also conduct a client evaluation if Grantee provides Direct Client Services. E. Grantee agrees to submit financial and progress reports as are required by Louisville Metro. The financial report shall account for all funds received and expended by the Grantee, including funding from other sources. All reports and correspondence shall be addressed to Rebecca Fleischaker, Department of Economic Development, 444 S. Fifth Street, Suite 600, Louisville, KY 40202.