Current through Reg. 50, No. 187; September 24, 2024
In addition to the requirements set forth in section
288.7102, F.S., and this
chapter, a Recipient must meet the performance conditions provided for in the
agreement it enters into with the Department in order to remain qualified to
receive funds under the Program. Any award of funds under the Program is
conditioned upon their availability and upon a Certified Applicant's execution
of an agreement with the Department.
(1) Quarterly submission of a Conflict
Statement.
(a) In addition to the requirements
provided in section 288.714, F.S., all Recipients
receiving funds under the Program shall provide the Department with a Conflict
Statement quarterly. Upon the written request of a Recipient the Department may
waive a conflict of interest if the following apply:
1. The nature of the conflict is fully
disclosed;
2. The person or entity
requesting the loan belongs to the group intended to be the beneficiaries of
the loan program and the waiver will permit the person or entity to receive
generally the same interests or benefits as are being made available or
provided to the group as a whole; and,
3. The person who has the potential conflict
of interest has withdrawn from all responsibility or participation in the loan
decision-making process.
(b) Falsifying or misrepresenting information
or the existence of a conflict within a Conflict Statement will be grounds for
the immediate termination of the agreement by the Department and for the
decertification of a Recipient. Any previously granted waivers by the
Department of a conflict shall not exempt its disclosure in a Conflict
Statement.
(2)
Unobligated Program Funds shall be maintained by the Recipient in a separate
interest bearing account subject to the terms and conditions of the agreement
entered into with the Department to carry out the legislative intent and
purposes of the Program.
(3)
Quarterly Reports.
(a) In addition to the
reporting requirements provided for in section
288.714, F.S., a Recipient's
quarterly report shall include a detailed summary of the Recipient's
performance duties imposed under the agreement it enters into with the
Department.
(b) Based upon a
Recipient's quarterly report, the Department shall deny Direct Administrative
Costs that do not advance the purpose of the Program as defined in section
288.7102(10),
F.S. The Department's denial shall be in writing and is subject to review under
chapter 120, F.S.
(4)
Technical Support and Technical Assistance.
(a) In the quarterly reports provided to the
Department, and as further described in section
288.714, F.S., a Recipient shall
describe the nature and amount of all Technical Support and Technical
Assistance it has provided during that quarter to black business
enterprises.
(b) Based upon a
Recipient's quarterly reporting of funds used as Technical Support and
Technical Assistance, the Department shall deny funds so expended that do not
advance the purpose of the Program as defined in section
288.7102(10),
F.S. The Department's denial shall be in writing and is subject to review under
chapter 120, F.S.
(5)
Financial Audits.
(a) The Department will
evaluate all financial audits received pursuant to section
288.7102, F.S. in order to
determine if an Instance of Material Noncompliance or a Material Weakness is
revealed.
(b) If a financial audit
received by the Department indicates or reveals an Instance of Material
Noncompliance, a Material Weakness, or both, that cannot be cured within a
reasonable time, the Department shall deny an application or terminate the
agreement pursuant to its terms.
Rulemaking Authority
288.714,
288.7102(7) FS.
Law Implemented 288.714,
288.7102
FS.
New 9-1-08, Amended 10-10-10, Formerly
27M-3.003, Amended 6-25-14,
8-25-14.
