Section 110.330  Recordkeeping and Reporting

a)         Grantees shall maintain all records of financial, programmatic and compliance activities.  All documents that are associated with a financial assistance review process shall be maintained on file with the grantee.

b)         All grantees shall submit semi-annual status reports to the Department.  The January-June report shall be due no later than July 31 of each calendar year; the July-December report shall be due no later than January 31 of each calendar year.  Failure to submit semi-annual status reports could result in delayed reimbursement of other active CDAP payments to the grantee or rejection of pending CDAP grant applications. Status reports shall include the following information:

1)         Date submitted;

2)         Name, title and telephone number of the person preparing the report;

3)         Report period;

4)         Name of the unit of local government;

5)         Name of county;

6)         Name of assigned Department compliance review staff;

7)         For financial assistance made from revolving funds, the following:

A)        Date of agreement;

B)        Name of recipient;

C)        Initial amount;

D)        Total amount to be recaptured, broken out by principal, interest and other forms of payment;

E)        Total amount recaptured to date, broken out by principal, interest and other forms of payment;

F)         Status (i.e., current (yes/no) or closed);

G)        Number of jobs created/retained;

H)        Number of jobs created/retained for low and moderate-income persons;

I)         Source and amount of other financing;

J)         If payments scheduled under a Financial Assistance Agreement are not current, date of last payment;

K)        A list of RF Financial Assistance Agreements in default or in bankruptcy and a full description of the current status of those Agreements, including collection efforts;

8)          A copy of the amortization, royalty payment, and other program income schedules that relate to each Financial Assistance Agreement; and

9)          Signature of the chief elected official for the unit of local government certifying that the information contained in the report is true and correct and is supported by documentation on file at their office.

c)         Each Department-funded CDAP Financial Assistance Agreement shall contain the following:

1)        Agreement number;

2)        Date of Financial Assistance Agreement;

3)        Initial amount;

4)        Total amount to be recaptured, broken out by principal, interest and other forms of payment;

5)        Total amount recaptured to date, broken out by principal, interest and other forms of payment;

6)        Status (i.e., current (yes/no) or closed);

7)        If payments scheduled under a Financial Assistance Agreement are not current, date of last payment;

8)        A list of CDAP Financial Assistance Agreements in default or in bankruptcy and the full description of the current status of those Agreements, including collection efforts.

d)         Totals for information listed in subsections (c)(5), (b)(7)(C) and (b)(7)(E) shall be included in the following computation:  Total CDAP recaptured amounts less the total amount of financial assistance provided for the RF plus total RF recaptured amounts less eligible infrastructure expenditures less eligible administrative expenses plus interest earned on deposits.  This formula allows the grantee to determine the total amount in its RF.  This figure shall match the balance shown on the grantee's bank statement at the end of the report period.  A copy of the bank statement shall be attached to the semi-annual report and submitted to the Department.

(Source:  Amended at 28 Ill. Reg. 13468, effective September 23, 2004)