Common use of Timely Expenditure Clause in Contracts

Timely Expenditure. Subrecipient acknowledges that City must comply with HUD’s requirement that CDBG Funds allocated for the Activity be expended in a timely manner and that City must monitor and administer all contracts involving City CDBG Funds. Subrecipient agrees to expend all CDBG Funds allocated to the Budget and complete the Activity before expiration of the Term. Any CDBG Funds not expended by Subrecipient before expiration of the Term may be reprogrammed by City Council without Notice to Subrecipient and will not be available to reimburse Subrecipient for any Activity expense incurred by Subrecipient.

Timely Expenditure. Subrecipient acknowledges and understands that City must comply with HUD’s requirement that CDBG Funds allocated for the Activity be expended in a timely manner and that City must monitor and administer all contracts involving City CDBG Funds. Subrecipient further acknowledges and agrees to expend all CDBG Funds allocated to the Budget and complete the Activity before expiration of the Term. Any CDBG Funds not expended by Subrecipient before expiration of the Term may be reprogrammed are subject to reprogramming by City Council without Notice to Subrecipient and will not be available to reimburse Subrecipient for any Activity expense incurred by Subrecipientcosts incurred, after expiration of the Term.

Timely Expenditure. Subrecipient acknowledges that City must comply with HUD’s 's requirement that CDBG Funds allocated for the Activity be expended in a timely manner and that City must monitor and administer all contracts involving City CDBG Funds. Subrecipient agrees to expend all CDBG Funds allocated to the Budget and complete the Activity before expiration of the Term. Any CDBG Funds not expended by Subrecipient before expiration of the Term may be reprogrammed by City Council without Notice to Subrecipient and will not be available to reimburse Subrecipient for any Activity expense incurred by Subrecipient.