Okla. Admin. Code § 650:37-1-11

Current through Vol. 42, No. 4, November 1, 2024

Section 650:37-1-11 - Contract provisions

(a)Professional service contract. The mechanism for funding an OCAST STTR Phase I Incentive Funding Program award shall be a professional service contract between OCAST and the applicant. Program requirements concerning the expenditure of federal STTR Phase I funds shall be as specified in the OCAST STTR Incentive Funding Program Specifications and Solicitation. Funding of professional service contracts shall be subject to the availability of resources and approval of OCAST.

(b)Contractor obligations.

(1)Concurrent funding prohibited. The contractor shall not receive concurrent funding support from other sources which duplicates the purpose of the funds to be provided by OCAST.

(2)Records and accounts. The contractor shall maintain records and accounts that properly document and account for the source and application of all project funds and all such records and accounts shall be made available on demand by OCAST for inspection and use in carrying out its responsibilities for administration of the funds.

(3)Access and examination. The contractor shall, as OCAST deems necessary, permit authorized representatives of OCAST and the State of Oklahoma to have full access to and the right to fully examine all records and accounts.

(4)Audits. The contractor shall comply with the audit policy of OCAST.

Okla. Admin. Code § 650:37-1-11

Added at 15 Ok Reg 3759, eff 8-13-98