Each recipient shall:

1. (a) Use generally accepted accounting principles;
2. (b) Place all funds received from the DWGTF in a project account for the sole purpose of planning, designing, and constructing or implementing the project as approved by the commission;
3. (c) Use all funds received from the DWGTF for the sole purpose of planning, designing, and constructing or implementing the project as approved by the commission;
4. (d) Provide an audit conducted by an accountant licensed under RSA 309-B who meets the qualifications for a forensic accountant established by the Governmental Accounting Standards Board (GASB) for a governmental entity or by the Financial Accounting Standards Board (FASB) for non-governmental entities in response to a department or commission request for an audit based on a reasonable suspicion of fraud or misuse of DWGTF funds;
5. (e) Maintain insurance coverage on the project in an amount adequate to protect the state’s investment, as determined based on the nature of the project and the amount of funding provided from the DWGTF in consultation with the department;
6. (f) Comply with any special conditions specified by the department’s environmental determination until all financial obligations to the state have been discharged; and
7. (g) Continually abide by the terms of the financial assistance agreement, all applicable rules, and relevant state statutes for operation and maintenance of the facility.

Source. #12903, eff 10-23-19