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(a) Notification and award letter.
(a)(1) Each State applicant will be notified in writing of CMS’s decision on its application.
(a)(2) If the State applicant is awarded a grant, the award letter will contain the following terms and conditions:
(a)(2)(i) All funds awarded to the grantee under this program must be used exclusively for the operation of a qualified high risk pool that meets the eligibility requirements for this program.
(a)(2)(ii) The grantee must keep sufficient records of the grant expenditures for audit purposes (see part 92 of this title).
(a)(2)(iii) The grantee may be required to submit quarterly progress and financial reports under part 92 of this title.
(b) Grantees letter of acceptance. Grantees must submit a letter of acceptance to CMS’ Acquisition and Grants Group within 30 days of the date of the award agreeing to the terms and conditions of the award letter.