(a) Disbursement requests shall be submitted by the project sponsor to the corporation in writing on forms provided by, or acceptable to, the corporation, in accordance with any instructions issued by, and together with any documentation of costs required by, the corporation. Copies of the disbursement request shall be submitted simultaneously to the corporation, and to any party named in the applicable PFLA.

(b) Assistance from the fund will be disbursed by the corporation only for costs associated with an eligible project.

(c) In the event that the project sponsor receives State assistance payments, the corporation may retain up to 10 percent of each disbursement, with total retainage to be paid to the recipient when the corporation receives a certificate of project completion prepared by a licensed professional engineer.

(d) The corporation may at any time review and audit disbursement requests and make adjustments for, among other things, arithmetical errors, items not built or bought, or ineligible costs.

(e) The corporation may transfer the full amount or any part of available financial assistance from the fund to a project account established for that purpose upon such terms as the corporation may deem necessary and prudent.

(f) Satisfactory documentation supporting disbursement requests shall demonstrate that the costs claimed were those approved in the PFLA, that they are allowable costs and that the goods or services for which the costs were incurred have been provided. Satisfactory documentation may include signed copies of payment vouchers or invoices, canceled checks, details of current indirect cost and fringe benefit rates, copies of all subagreements, executed change orders, payroll records, tabulations of allowable costs incurred.

All documentation for an eligible project shall be incorporated and referenced in project accounts maintained by the recipient in accordance with applicable generally accepted government accounting principles.