Common use of Accounting and Record Keeping Clause in Contracts

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 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 NIC on forms designated by CSANIC. 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 NIC 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 NIC 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.