Accounting and Reporting Requirements Clause Samples

The Accounting and Reporting Requirements clause sets out the obligations for maintaining and providing financial records and reports related to the agreement. Typically, it requires one or both parties to keep accurate and up-to-date accounts, and to furnish periodic financial statements or reports to the other party upon request or at specified intervals. This clause ensures transparency and accountability in financial matters, helping to prevent disputes and enabling effective monitoring of compliance with the contract's terms.
Accounting and Reporting Requirements. The Authorities shall ensure that full and proper records for accounting purposes are kept in respect of the MKS [ ] Shared Service Arrangements in this Agreement.
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Accounting and Reporting Requirements. 4 The Accommodations Tax revenues allocated to the COC shall be accounted for in a separate 5 account according to Generally Accepted Accounting Principles for governmental and non-profit 6 reporting entities. These funds may not be commingled with any other funds. The Budget shall be a 7 public document available from the City and the COC and shall be available on the media platforms of 8 both Parties. 10 Records concerning the funds allocated to the COC are to be maintained in such a manner that the names of 11 payees and the purpose of each payment are readily available to and can be easily discerned by the
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Accounting and Reporting Requirements. The Lead Partner shall ensure that full and proper records for accounting purposes are kept in respect of the Adoption Partnership South East.
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Accounting and Reporting Requirements a. The Housing Commission acknowledges and agrees that all proceeds from Bonds issued by the City, including any interest earned thereon, shall be deposited into a separate account with the Title Company designated solely for the purpose of paying costs of the Project (the “Project Fund”). The Project Fund shall contain only proceeds of the bonds issued by the City and interest earned thereon and shall not include any other funds from other sources to be used for the purpose of paying costs of the Project. b. Any interest earned on the proceeds deposited in the Project Fund shall be used solely for the purpose of paying costs of the Project in a manner consistent with Section 8.25 of the City Charter and in accordance with applicable laws and regulations. c. The Housing Commission hereby agrees that it is the Housing Commission’s sole responsibility to ensure the Title Company maintains accurate and detailed records of all expenditures made from the Project Fund. These records shall include, but are not limited to, invoices, receipts and financial statements and shall be made available for inspection by authorized representatives of the City upon request. The Housing Commission further agrees to provide periodic reports to the City detailing its use of bond proceeds, including a breakdown of expenditures by category, on a quarterly basis, beginning with the first quarterly report due within thirty (30) days after the end of the fiscal year quarter following issuance of the Bonds. Subsequent reports shall be due within thirty (30) days of the end of each subsequent fiscal year quarter, until a final quarterly report evidencing expenditure of all Bond proceeds is filed with the City.
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Accounting and Reporting Requirements. The Partners shall ensure that full and proper records for accounting purposes are kept in respect of the Partnership Arrangements in line with current accounting regulations. 22.1 The Partners shall co-operate with each other in preparation of accounts in relation to the Partnerships Arrangements. 22.2 The Partners will supply all information reasonably required by: 22.2.1 persons exercising a statutory function in relation to a Partner including the external auditor of a Partner, the Department of Health, Strategic Health Authority, PCTs, the Audit Commission, the Social Services Inspectorate, the Councils’ Monitoring Officers (appointed under section 5 of the Local Government and Housing Act 1989) and the Councils’ Section 151 Officers (as defined by the Local Government Act 1972); 22.2.2 other persons or bodies with an authorised monitoring or scrutiny function, including a Scrutiny Committee of the Councils having regard to the Partners’ obligations of confidentiality, and such information sharing protocols as shall be agreed between the Partners from time to time. 22.2.3 internal auditors of the Partners working within the protocol agreement (see Appendix 10) will be given the right of access by Partners to any document, information or explanation they require in order to carry out their duties.
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Accounting and Reporting Requirements. The Partners shall ensure that with effect 1st April 2012 full and proper records for accounting and audit purposes are kept in respect of the Arrangements.
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Accounting and Reporting Requirements a. The Host Authority shall ensure that full and proper records for accounting purposes are kept in respect of ALS. b. Each Partner shall ensure that where appropriate and practicable as agreed by the Partners, it keeps separate accounting records to record the costs of ALS. c. Each Partner shall provide any necessary financial information with respect to ALS to the Host Authority on a quarterly basis. d. The Partners shall hold quarterly monitoring meetings as part of the ALS Management Board meetings to discuss the financial performance of ALS.]
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Accounting and Reporting Requirements. 4.9.1 The Host Authority shall ensure that full and proper records for accounting purposes are kept in respect of ALW. 4.9.2 Each Partner shall ensure that where appropriate and practicable as agreed by the Partners, it keeps separate accounting records to record the costs of ALW. 4.9.3 Each Partner shall provide any necessary financial information with respect to ALW to the Host Authority on a quarterly basis or as otherwise reasonably required. 4.9.4 The Partners shall hold quarterly monitoring meetings as part of the ALW Adopt London West Partnership Board meetings to discuss the financial performance of ALW.
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Accounting and Reporting Requirements 
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Related to Accounting and Reporting Requirements

  • Accounting and Reporting I. The Agent shall establish separate accounts for the trust assets, the assets obtained as a result of managing and utilizing the trust assets, its own assets, and other trust assets. II. The Agent shall prepare and send monthly an comprehensive statement in writing, via email or text message to the Principal. The comprehensive statement will provide to the Principle in accordance with the law, agreement or on a basis of risk management. The content states the Pinciple’s business dealing with the Agent, including deposits, loans(foreign currency loans、overdue receivables、bad debts and credit card debt excluded), non-discretionary monetary trust, insurance and other business information or activities related to financial products(charitable trusts, individual or corporate trusts, SWIFT, financial, credit card and securities business statements excluded). The Agent may engage a third party to prepare and send comprehensive statements according to the law. The Principal shall check the content upon receiving the comprehensive statement.The Principal understands and agrees that, when constitutions of the transaction and/or trust, completion of changes of conditions and/or other agreements, and/or proportional changes of investment gains and losses, the Agent may send the comprehensive statement and/or text message, email and/or related transaction information to the Principal for his/her understanding using latest contact information retained by the Agent when the Principal applies for any business (including, but not limited to, deposits or credit cards).The Agent will not provide comprehensive statements to the Principle, once private banking department reach the agreement with the Principle to provide exclusive statements. III. When authorized to invest in offshore structured notes, the Agent shall prepare and send a written or electronic transaction confirmation notifications within three business days from the day a subscription, redemption, conversion, or early redemption confirmation notification is received from the issuer or the general agent (excluding distribution of dividends and bonuses) to the Principal. Additionally, the Agent shall prepare and send monthly a written or electronic statement or another document disclosing the most recent reference price to the Principal for his/her reference. IV. If the Principal’s comprehensive statement, transaction notice and transaction confirmation are rejected or returned after being mailed/sent to the address/number specified in the Agreement or the last known address/number of the Principal shall be handled according to the following principles: (I) If the Principal does not make any new transactions before the closing date of the current comprehensive statement, the Agent may send a return notification in a way agreed upon between the Agent and the Principal from the date the mail/text message is rejected or returned to the date the Principal changes the mailing address, e-mail address、phone number in accordance with the Agent's regulations.If the method of sending the comprehensive statement is paper ,the paper comprehensive statement will be stopped and a text message of return notification will be sent when the comprehensive statement should be sent in the next period; If the method of sending the comprehensive statement is e-mail or text message, the electronic comprehensive statement will continue to be sent and a text message or e-mail of return notification will be sent when the comprehensive statement should be sent in the next period.However, when the Principal requests that the Agent resend the comprehensive statement, the Agent may provide the statement to the Principal using a feasible method at the time, and the Principal must change the mailing address, e-mail address or phone number according to the Agent's regulations. (II) If the Principal’s comprehensive statement, transaction notice and transaction confirmation are rejected or returned, the Principal understands and agrees that the Agent may notify the Principal in accordance with the Article 10 aforementioned and implement transaction monitoring measures to protect the Principal's rights in accordance with the Agent’s regulations.

  • Accounting and Reports (a) The Company shall adopt for tax accounting purposes any accounting method that the Board shall decide in its sole discretion is in the best interests of the Company. The Company’s accounts shall be maintained in U.S. currency. (b) After the end of each Taxable Year, the Company shall furnish to each Member such information regarding the operation of the Company and such Member’s Interest as is necessary for Members to complete U.S. federal and state income tax or information returns and any other tax information required by U.S. federal and state law. (c) Except as otherwise required by the 1940 Act, or as may otherwise be permitted by rule, regulation or order, within 60 days after the close of the period for which a report required under this Section 7.1 is being made, the Company shall furnish to each Member an unaudited semi-annual report and an audited annual report containing the information required by such Act. The Company shall cause financial statements contained in each annual report furnished hereunder to be accompanied by a certificate of independent public accountants based upon an audit performed in accordance with generally accepted accounting principles. The Company may furnish to each Member such other periodic reports as it deems necessary or appropriate in its discretion.

  • Accounting Requirements CONTRACTOR shall comply with all applicable COUNTY, State, and Federal accounting laws, rules and regulations. CONTRACTOR shall establish and maintain accounting systems and financial records that accurately account for and reflect all Federal funds received, including all matching funds from the State, COUNTY and any other local or private organizations. CONTRACTOR’S records shall reflect the expenditure and accounting of said funds in accordance with all applicable State laws and procedures for expending and accounting for all funds and receivables, as well as meet the financial management standards in 45 CFR Part 92 and in the Office of Management and Budget 2 CFR Part 200 “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.”

  • Record Keeping and Reporting 7.1 The Supplier must ensure that suitably qualified representatives attend progress meetings with the Buyer and provide progress reports when specified in the Order Form. 7.2 The Supplier must keep and maintain full and accurate records and accounts on everything to do with the Contract for 7 years after the date of expiry or termination of the Contract and in accordance with the UK GDPR or the EU GDPR as the context requires. 7.3 The Supplier must allow any auditor appointed by the Buyer access to its premises to verify all contract accounts and records of everything to do with the Contract and provide copies for the Audit. 7.4 During an Audit, the Supplier must provide information to the auditor and reasonable co-operation at their request. 7.5 The Parties will bear their own costs when an Audit is undertaken unless the Audit identifies a material default by the Supplier, in which case the Supplier will repay the Buyer's reasonable costs in connection with the Audit. 7.6 If the Supplier is not providing any of the Deliverables, or is unable to provide them, it must immediately: (a) tell the Buyer and give reasons; (b) propose corrective action; and (c) provide a deadline for completing the corrective action. 7.7 If the Buyer, acting reasonably, is concerned as to the financial stability of the Supplier such that it may impact on the continued performance of the Contract then the Buyer may: (a) require that the Supplier provide to the Buyer (for its approval) a plan setting out how the Supplier will ensure continued performance of the Contract and the Supplier will make changes to such plan as reasonably required by the Buyer and once it is agreed then the Supplier shall act in accordance with such plan and report to the Buyer on demand; and (b) if the Supplier fails to provide a plan or fails to agree any changes which are requested by the Buyer or fails to implement or provide updates on progress with the plan, terminate the Contract immediately for material breach (or on such date as the Buyer notifies). 7.8 If there is a material default, the Supplier must notify the Buyer within 3 Working Days of the Supplier becoming aware of the material default. The Buyer may request that the Supplier provide a Rectification Plan within 10 Working Days of the Buyer’s request alongside any additional documentation that the Buyer requires. Once such Rectification Plan is agreed between the Parties (without the Buyer limiting its rights) the Supplier must immediately start work on the actions in the Rectification Plan at its own cost.

  • Monitoring and Reporting The Programme Operator shall monitor, record and report on progress towards the programme’s outcomes in accordance with the provisions contained in the legal framework. The Programme Operator shall ensure that suitable and sufficient monitoring and reporting arrangements are made with the project promoters in order to enable the Programme Operator and the NFP to meet its obligations to the donors. When reporting on progress achieved in Annual and Final Programme Reports, the Programme Operator shall disaggregate results achieved as appropriate and in accordance with instructions and templates received from the FMO.