Transit Operating Grant Requirements (Transit Only. Transit Operating Grants billed as an operational subsidy will require an expenditure detail report from the Agency that matches the invoice period. The expenditure detail, along with the progress report, will be the required deliverables for Transit Operating Grants. Operating grants may be issued for a term not to exceed three years from execution. The original grant agreement will include funding for year one. Funding for years two and three will be added by amendment as long as the grantee has submitted all invoices on schedule and the project deliverables for the year have been met. This exhibit forms an integral part of the Agreement between the Department and the Agency. The Agency, as the “subrecipient”, shall comply with the following requirements:
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Sources: Audit Requirements for Awards of Federal Financial Assistance, Audit Requirements for Awards of Federal Financial Assistance