Accounting and Record Keeping Clause Samples
The Accounting and Record Keeping clause establishes the obligation for parties to maintain accurate and complete financial records related to the agreement. Typically, this clause requires that all relevant transactions, receipts, and expenditures be documented and preserved for a specified period, and may grant the other party the right to inspect or audit these records upon request. Its core practical function is to ensure transparency and accountability, reducing the risk of disputes over financial matters and enabling effective monitoring of compliance with the contract's terms.
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Accounting and Record Keeping. The Provider and any subcontractor shall maintain an accounting system and supporting records adequate to assure that claims for funds are in accordance with applicable state, federal and appropriate accrediting agency requirements. Such supporting records shall reflect all direct and indirect costs of any nature expended in the performance of this Agreement and all income from any source. If required, the Provider shall also collect and maintain fiscal and statistical data pursuant to the servicing of this Agreement and any POSO for a child under the supervision or authority of the Buyer on forms designated by the Buyer. The Provider shall maintain and retain all books, records, and other documents relative to this Agreement and any POSO for a child and/or family receiving services through the Buyer for three (3) years after any final payment pursuant to this Agreement and any POSO for a child and/or family receiving services through the Buyer or as long as necessary for purposes of any unresolved state or federal audit. The Buyer, its authorized agents, and State and Federal auditors shall have full access to and the right to examine any of the said materials during an audit or specific to children served by this Agreement during said period. In the event an audit shows that Provider expended or received Buyer's funds improperly, Provider shall provide full restitution to Buyer. Reports, studies, photographs or other documents prepared by Provider in the provision of services to Buyer’s client(s) shall be the property of Buyer. Provider shall not use, willingly allow to be used, or cause such materials to be used for any purpose which has not been authorized by Buyer. To the extent HIPAA regulations apply to any documents or information coming into Provider’s possession, Provider agrees to comply with such rules and regulations.
Accounting and Record Keeping. The Provider shall maintain an accounting system and supporting records adequate to assure that claims for funds are in accordance with applicable state, federal and appropriate accrediting agency requirements. Such supporting records shall reflect all direct and indirect costs of any nature expended in the performance of this Contract and all income from any source. The Provider shall also collect and maintain fiscal and statistical data pursuant to the servicing of this Contract and any PSO for a child under the supervision or authority of the Buyer on forms designated by the Buyer. The Provider agrees to retain all books, records, and other documents relative to this Contract and any PSO for a child under the supervision or authority of the Buyer for five (5) years after any final payment pursuant to this Contract and any PSO for a child under the supervision or authority of the Buyer or as long as necessary for purposes of any unresolved state or federal audit. The Buyer, its authorized agents, and state or federal auditors shall have full access to and the right to examine any of said materials during an audit.
Accounting and Record Keeping. The Trustee shall keep accurate and detailed accounts of all investments, receipts, disbursements and other transactions relating to each Participant Account, and all such records shall be open to inspection and audit at all reasonable times by any person designated by the Company. As soon as practicable after each Valuation Date, the Trustee shall file with the Company a written report for each Participant Account setting forth all gains or losses (both realized and unrealized) and other transactions relating to the Trust Fund since the last preceding Valuation Date. As soon as practicable after each Valuation Date, the Trustee shall provide each Participant with a statement of the balance credited to his Participant Account at such Valuation Date.
Accounting and Record Keeping. Grantee will keep financial records including properly executed contracts, invoices, and other documents sufficient to evidence in proper detail the nature and propriety of the expenditures for all expenditures of Grant Funds made pursuant to this Agreement. Accounting methods will be in accordance with generally accepted accounting principles.
Accounting and Record Keeping. The Contractor shall maintain an accounting system and supporting records adequate to assure that claims for funds are in accordance with applicable state, federal and appropriate accrediting agency requirements. Such supporting records shall reflect all direct and indirect costs of any nature expended in the performance of this Contract and all income from any source. The Contractor shall also collect and maintain fiscal and statistical data pursuant to the servicing of this Contract and any PSO for a client under the supervision or authority of CSA on forms designated by CSA. The Contractor agrees to retain all books, records, and other documents relative to this Contract and any PSO for a client under the supervision or authority of CSA for five (5) years after any final payment pursuant to this Contract and any PSO for a client under the supervision or authority of CSA or as long as necessary for purposes of any unresolved state or federal audit. The City, its authorized agents, and state or federal auditors shall have full access to and the right to examine any of said materials during an audit.
Accounting and Record Keeping. The Subrecipient shall establish and maintain a proper accounting system to record expenditures of disaster assistance funds in accordance with generally accepted accounting standards and shall maintain all records and supporting documentation associated with the disaster in accordance with 2 CFR § 200.333. Records are to be maintained by the Subrecipient for a period of three (3) years from the date of closeout for the aforementioned disaster number.
Accounting and Record Keeping. The Provider shall maintain an accounting system and supporting records adequate to assure that claims for funds are in accordance with applicable state, federal, and appropriate accrediting agency requirements. Supporting records maintained by the Provider shall reflect all direct and indirect costs of any nature expended in the performance of this Contract and all income from any source. The Provider shall also collect and maintain fiscal and statistical data pursuant to the servicing of this Contract for a child under the supervision or authority of the Buyer on forms designated by the Buyer. The Provider agrees to retain all books, records, and other documents relative to this Contract for a child under the supervision or authority of the Buyer for three years after any final payment pursuant to this Contract and for a child under the supervision or authority of the Buyer or as long as necessary for purposes of any local, state, or federal audit or investigation. The Buyer, its authorized agents, and local, state, or federal auditors or investigators shall have full access to and the right to examine any of said materials during an audit or investigation.
Accounting and Record Keeping. (a) Prior to 5:00 p.m. on each Thursday of every calendar week throughout the Term, Tenant shall deliver in hand to Landlord a true and correct statement signed by Tenant, setting forth Tenant's Gross Sales derived from the business conducted at, upon, or from the Premises by Tenant during the preceding calendar week (and for all prior weeks for which no such statement has been delivered). These statements will be in a form reasonably acceptable to the Landlord.
(b) Tenant agrees to submit to Landlord on or before the tenth (10th) day following the end of each month during the Term hereof a written statement, in a form reasonably acceptable to Landlord, signed and sworn to by an authorized officer of Tenant to be true and correct, showing the amount of Gross Sales derived from the business conducted at, upon, or from the Premises by Tenant during the preceding calendar month, and an itemization of all permissible deductions therefrom (hereinafter, the "Monthly Statement of Gross Sales"). Tenant shall deliver to Landlord within (120) days after December 31 of each and every year of the Term, annual statements of Gross Sales having no less than the same information as provided in the Monthly Statement of Gross Sales (hereinafter, the "Annual Statement of Gross Sales"). The Annual Statement of Gross Sales shall be sworn to by Tenant's chief financial officer. Tenant shall also deliver to Landlord such certified annual financial statement of Tenant as Tenant may have prepared and certified by an independent certified public accountant, which delivery shall be made within (30) days of the Tenant receiving said certified financial statement. The acceptance by Landlord of payments of Percentage Rent or reports thereof shall be without prejudice and shall in no event constitute a waiver of Landlord's right to claim a deficiency in the payment of such Percentage Rent or to audit Tenant's books and records, as hereinafter set forth.
(c) Landlord, its auditor or other designated representative shall have the right, no more than once a year, to audit all pertinent books and records of Tenant for the purpose of verifying monthly and annual statements submitted by Tenant to Landlord and the actual amount of Gross Sales (as herein defined). All expenses of such audit shall be borne by Landlord unless such audit shall disclose a reporting error with respect to any annual statement of four percent (4%) or more on the part of Tenant, unless Tenant can establish to Landlord'...
Accounting and Record Keeping. Provider shall keep full and accurate records and accounts of all its activities in connection with this Agreement. All records relating to this Agreement, including, but not limited to, Provider’s and any of its authorized Affiliates’ and Sub-Contractors’ invoices, shall be available for inspection and audit by Alameda Unified and its Affiliates’ employees and independent contractors (including but not limited to advisors, auditors, and attorneys) (collectively, “Representatives”) at all reasonable times and upon reasonable notice during the Term of the Agreement and for five (5) years thereafter. Inspections and audits conducted pursuant to this subsection shall be at Alameda Unified’s sole expense, provided that Provider and its Affiliates and Sub- Contractors shall provide all records and resources reasonably required for facilitating such inspections and audits free of charge. In the event an audit reveals an overpayment by ▇▇▇▇▇▇▇ Unified, Provider shall make all payments required to eliminate such overpayment within thirty (30) days after Alameda Unified’s demand therefor.
Accounting and Record Keeping. The Sub-Recipient will keep financial records, including properly executed contracts, invoices, and other documents, sufficient to evidence in proper detail the nature and propriety of the expenditures for all expenditures of Grant Funds made pursuant to this Agreement. Accounting methods will be in accordance with generally accepted accounting principles. Records will be kept for a period of time to satisfy all state retention requirements.