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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 650. Oklahoma Center for the Advancement of Science and Technology |
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Chapter 38. STTR Matching Funds Program |
SECTION 650:38-1-11. Contract provisions
Latest version.
- (a) Professional service contract. The mechanism for funding an OCAST STTR Matching Funds Program award shall be a professional service contract between OCAST and the applicant. Program requirements concerning the expenditure of federal Phase II funds shall be as specified in the OCAST STTR Matching Funds 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.