BOARD01632

• Board Meeting Date: 9/13/2004
• Description: ISF Section - Proposed Water Right Acquisition - Elkhead Reservoir Enlargement
• Board Meetings - Doc Type: Memo

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Bob Norman WCG-BNorrnan
Western Colorado Area Office
2764 Compass Drive, Suite 106
Grand Junction CO 81506
Telephone: [phone]

River District Representative:
Point of Contact:
Eric Kuhn
Secretary/General Manager
Colorado River Water Conservation District
201 Centennial
P.O. Box 1120
Glenwood Springs, Co 81602
Telephone: [phone]

6. PERFORMANCE PERIOD AND DELIVERY.

A. The period of performance will be from execution of this Grant Agreement, through
September 30, 2008.

B. All deliverables shall be furnished pursuant with the completion dates specified in each
scope-of-work.

7. FUNDING. An annual work plan will be prepared by the River District detailing the activities
and schedule for project completion.

8. PAYMENT POLICY (Reclamation 11/03)

Acceptance of a financial assistance agreement from Reclamation creates a legal responsibility on the
part of the recipient organization to use the funds and property provided in accordance with the terms and
conditions of the agreement. Reclamation has a reversionary interest in the unused balance of funding
and in any funds improperly applied.

Payments to recipients are made in accordance with the basic standards and methods stated in the
payment regulations at 43 CFR 12.61 or 43 CFR 12.922, as applicable to this agreement. These
requirements are intended to minimize the time elapsing between the transfer of funds from the Federal
government and the disbursement of these funds by the recipient.

Payment will be made in advance or by reimbursement as follows:

(1) Advance Payment B Recipients shall be paid in advance provided (1) they maintain or
demonstrate the willingness and ability to maintain procedures to minimize the time elapsing between
the transfer of funds and their disbursement by the recipient, (2) they comply with reporting
requirements for timely submission of financial status reports, and (3) they impose these same
standards on subrecipients.

Advances to recipients shall be limited to the minimum amounts needed and shall be timed to be in
accordance with the actual, immediate cash requirements of the recipient in carrying out the purpose
of the agreement. The timing and amount of cash advances shall be as close as administratively
feasible (generally no more than 3 days) to actual disbursements for direct program costs and the
proportionate share of allowable indirect costs.

(2) Reimbursement -- Reimbursement shall be the preferred method of payment when a recipient
(1) does not meet the requirements for advance payment stated above; (2) does not have financial