Section 401.12 - Program management(a) Upon approval of each fiscal year's proposed program, the granting agency will transmit to the grantee an award which will incorporate the application and assurances.(b) The grant is effective and constitutes an obligation of Federal funds in the amount and for the purpose stated in the award document at the time of the Director's signature.(c)(1) Acceptance of the award document certifies the grantee's assurance that the grant will be administered in compliance with OMB regulations, policies, guidelines, and requirements as described in:(i) Circular No. A-21, revised, Cost Principles of Educational Institutions;(ii) Memorandum No. M-92-01, Coordination of Water Resources Information;(iii) Circular No. A-88, revised, Indirect Cost Rates, Audit and Audit Follow-up at Educational Institutions;(iv) Circular No. A-110, Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals and other Nonprofit Organizations; and(v) Circular No. A-124, Patents-Small Business Firms and Nonprofit Organizations.(2) Copies of the documents listed in paragraph (c)(1) of this section shall be available from the granting agency.50 FR 23114, May 31, 1985, as amended at 58 FR 27204, May 7, 1993