Oklahoma Administrative Code
Title 650 - Oklahoma Center for the Advancement of Science and Technology
Chapter 18 - Oklahoma Nanotechnology Applications Project
Section 650:18-1-12 - Contract provisions

Universal Citation: OK Admin Code 650:18-1-12

Current through Vol. 41, No. 13, March 15, 2024

(a) Professional service contract. The mechanism for funding approved applications shall be a professional service contract between OCAST and the applicant organization(s).

(b) Verification of matching funds. Professional service contracts shall be awarded contingent upon documentation that the matching funds and/or machinery or equipment to be matched by OCAST has been received by the applicant organization(s). The period of time allowed for verification of receipt of matching funds shall be approved by the OSTRaD Board and announced in the solicitation.

(c) Fiscal agent. If more than one applicant organization participates in a contract, one organization shall be designated as the fiscal agent.

(d) Contractor obligations.

(1) Records and accounts. The contractor, or designated fiscal agent, shall maintain records and accounts that properly document and account for the source and application of all project funds, and all such records and accounts shall be made available on demand by OCAST for inspection and use in carrying out its responsibilities for administration of the funds.

(2) Access and examination. The contractor, or designated fiscal agent, shall as OCAST deems necessary, permit authorized representatives of OCAST and the State of Oklahoma full access, and the right to fully examine, all projects records and accounts.

(3) Audits. The contractor, or designated fiscal agent, shall comply with the audit policy of OCAST. The contractor, or designated fiscal agent, shall provide OCAST timely reports on any audits that include funds received from OCAST. In the event an audit results in the determination that the contractor, or designated fiscal agent, has expended contract funds on unallowable costs, the contractor, or designated fiscal agent, shall reimburse OCAST in full for all such costs.

Added at 26 Ok Reg 122, eff 10-7-08 through 7-14-09 (emergency)1; Added at 26 Ok Reg 2799, eff 7-25-09

1This emergency action expired without being superseded by a permanent action. Upon expiration of an emergency action enacting a new Section, the Section is no longer effective. Therefore, on 7-15-09 (after the 7-14-09 expiration of this emergency action), Section 650:18-1-8 was no longer effective, and remained as such until added by permanent action on 7-25-09. For the official text of the emergency rule that was in effect from 10-7-08 through 7-14-09, see 26 Ok Reg 122.

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