Section 650.100  Grant Agreements

The grant award shall be made pursuant to a Grant Agreement signed by the State Treasurer and the grantee.  The Grant Agreement shall:

a)         describe the purpose of the grant award;

b)         specify how payments shall be made, what constitutes permissible expenditure of the grant award, and the financial controls applicable to the grant award, including required reports;

c)         specify the period of time for which the grant is valid and the period of time during which the grant award may be expended;

d)         contain a provision that the grantee is required to permit the State Treasurer, the Auditor General, or the Attorney General to inspect and audit any books, records, or papers related to the program, project, or use for which grant funds were provided, and that records shall be maintained for six years after the termination of the grant;

e)         contain a provision that the grantee shall make its premises and program sites open to inspection by the State Treasurer or its designees upon reasonable notice;

f)         contain a provision that all funds remaining at the end of the Grant Agreement or at the expiration of the period of time grant funds are available for expenditure or obligation by the grantee shall be returned to the State within 45 days; and

g)         contain a provision in which the grantee certifies under oath that all information in the Grant Agreement is true and correct to the best of the grantee's knowledge, information, and belief; that the funds shall be used only for the purposes described in the Grant Agreement; and that the grant award is conditioned upon such certification. (Section 4(b) of the Grant Funds Recovery Act [30 ILCS 705/4(b)])