Common use of Accounting System Requirements Clause in Contracts

Accounting System Requirements. Prior to FAS’ initial payment to the Recipient, the Recipient shall provide sufficient evidence to the FAS Grants Management Officer that its accounting system is in accord with the Generally Accepted Accounting Principles. Recipients’ financial management systems shall provide for the following: Accurate, current, and complete disclosure of the financial results of each FAS sponsored project or program. FAS requires financial reporting on an accrual basis; however, the Recipient shall not be required to establish an accrual accounting system. These Recipients shall develop such accrual data through best estimate for their reports on the basis of an analysis of the documentation on hand. Records that identify the source and application of funds for federally sponsored activities. These records shall contain information pertaining to Federal awards, authorizations, obligations, unobligated balances, assets, outlays, income and interest. Effective control over and accountability for all funds, property and other assets. Recipients shall adequately safeguard all such assets and assure they are used solely for authorized purposes. Comparison of outlays with budget amounts for each award. Whenever appropriate, financial information should be related to performance and unit cost data. Written procedures to minimize the time elapsing between the transfer of funds to the Recipient from the U.S. Treasury and the issuance or redemption of a check, warrant or payment by other means for program purposes by the Recipient. To the extent that the provisions of the Cash Management Improvement Act (CMIA) (Pub. L. 101–453) govern, payment methods of State agencies, instrumentalities, and fiscal agents shall be consistent with CMIA Treasury-State Agreements or the CMIA default procedures codified at 31 CFR part 205, ‘‘Rules and procedures for efficient Federal State funds transfer.’’ Written procedures for determining the reasonableness, allocability and allowability of costs in accordance with the provisions of the applicable Federal cost principles and the terms and conditions of the award. Accounting records including cost accounting records that are supported by source documentation. SAFEGUARDING U.S. FUNDS. The Recipient shall establish safeguards to ensure that U.S. Federal funds are properly spent. The Recipient shall ensure that funds are not used for any partisan or political activity purposes (whether domestic or foreign), including, but not limited to: Supporting election, referendum, initiative, or similar procedure; Influencing the outcomes of elections; introducing legislation; Influencing government officials to engage in similar lobbying activity; Preparing, distributing, or using publicity or propaganda, or by urging members of the general public to contribute to or participate in any mass demonstration, march, rally, fund raising drive, lobbying campaign or letter writing or telephone campaign; Influencing or attempting to influence a member of Congress or a federal agency in connection with the award of any federal contract, grant loan or cooperative agreement; Attending legislative sessions or committee hearings, gathering information regarding legislation, and analyzing the effect of legislation, when such activities are carried on in support of or in knowing preparation for an effort to engage in unallowable lobbying. If FAS funds under this Agreement have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, and officer or employee of Congress, or an employee of a Member of Congress in connections with this Agreement, the Recipient’s signatory official shall complete Standard Form LLL, Disclosure of Lobbying Activities, in accordance with its instructions and submit to the Grants Management Officer. This provision shall be included in the award documents for all subawards at all tiers including subcontracts, sub-grants, and contracts under this Agreements Any person who fails to file the SF-LLL shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. MEMBERS OF U.S. CONGRESS. Pursuant to 41 U.S.C. 22, no United States member of, or United States delegate to, Congress shall be admitted to any share or part of this Agreement, or benefits that may arise there from, either directly or indirectly.

Accounting System Requirements. Prior to FAS’ initial payment to the RecipientCooperator, the Recipient Cooperator shall provide sufficient evidence to the FAS Grants Management Officer that its accounting system is in accord with the Generally Accepted Accounting Principles. RecipientsCooperators’ financial management systems shall provide for the following: Accurate, current, and complete disclosure of the financial results of each FAS sponsored project or program. FAS requires financial reporting on an accrual basis; however, the Recipient Cooperator shall not be required to establish an accrual accounting system. These Recipients Cooperators shall develop such accrual data through best estimate for their reports on the basis of an analysis of the documentation on hand. Records that identify the source and application of funds for federally sponsored activities. These records shall contain information pertaining to Federal awards, authorizations, obligations, unobligated balances, assets, outlays, income and interest. Effective control over and accountability for all funds, property and other assets. Recipients Cooperators shall adequately safeguard all such assets and assure they are used solely for authorized purposes. Comparison of outlays with budget amounts for each award. Whenever appropriate, financial information should be related to performance and unit cost data. Written procedures to minimize the time elapsing between the transfer of funds to the Recipient Cooperator from the U.S. Treasury and the issuance or redemption of a check, warrant or payment by other means for program purposes by the RecipientCooperator. To the extent that the provisions of the Cash Management Improvement Act (CMIA) (Pub. L. 101–453) govern, payment methods of State agencies, instrumentalities, and fiscal agents shall be consistent with CMIA Treasury-State Agreements or the CMIA default procedures codified at 31 CFR part 205, ‘‘Rules and procedures for efficient Federal State funds transfer.’’ Written procedures for determining the reasonableness, allocability and allowability of costs in accordance with the provisions of the applicable Federal cost principles and the terms and conditions of the award. Accounting records including cost accounting records that are supported by source documentation. SAFEGUARDING U.S. FUNDS. The Recipient shall establish safeguards to ensure that U.S. Federal funds are properly spent. The Recipient shall ensure that funds are not used for any partisan or political activity purposes (whether domestic or foreign), including, but not limited to: Supporting election, referendum, initiative, or similar procedure; Influencing the outcomes of elections; introducing legislation; Influencing government officials to engage in similar lobbying activity; Preparing, distributing, or using publicity or propaganda, or by urging members of the general public to contribute to or participate in any mass demonstration, march, rally, fund raising drive, lobbying campaign or letter writing or telephone campaign; Influencing or attempting to influence a member of Congress or a federal agency in connection with the award of any federal contract, grant loan or cooperative agreement; Attending legislative sessions or committee hearings, gathering information regarding legislation, and analyzing the effect of legislation, when such activities are carried on in support of or in knowing preparation for an effort to engage in unallowable lobbying. If FAS funds under this Agreement have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, and officer or employee of Congress, or an employee of a Member of Congress in connections with this Agreement, the Recipient’s signatory official shall complete Standard Form LLL, Disclosure of Lobbying Activities, in accordance with its instructions and submit to the Grants Management Officer. This provision shall be included in the award documents for all subawards at all tiers including subcontracts, sub-grants, and contracts under this Agreements Any person who fails to file the SF-LLL shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. MEMBERS OF U.S. CONGRESS. Pursuant to 41 U.S.C. 22, no United States member of, or United States delegate to, Congress shall be admitted to any share or part of this Agreement, or benefits that may arise there from, either directly or indirectly.

Accounting System Requirements. Prior to FAS’ initial payment to the RecipientCooperator, the Recipient Cooperator shall provide sufficient evidence to the FAS Grants Management Officer that its accounting system is in accord with the Generally Accepted Accounting Principles. RecipientsCooperators’ financial management systems shall provide for the following: Accurate, current, and complete disclosure of the financial results of each FAS sponsored project or program. FAS requires financial reporting on an accrual basis; however, the Recipient Cooperator shall not be required to establish an accrual accounting system. These Recipients Cooperators shall develop such accrual data through best estimate for their reports on the basis of an analysis of the documentation on hand. Records that identify the source and application of funds for federally sponsored activities. These records shall contain information pertaining to Federal awards, authorizations, obligations, unobligated balances, assets, outlays, income and interest. Effective control over and accountability for all funds, property and other assets. Recipients Cooperators shall adequately safeguard all such assets and assure they are used solely for authorized purposes. Comparison of outlays with budget amounts for each award. Whenever appropriate, financial information should be related to performance and unit cost data. Written procedures to minimize the time elapsing between the transfer of funds to the Recipient Cooperator from the U.S. Treasury and the issuance or redemption of a check, warrant or payment by other means for program purposes by the RecipientCooperator. To the extent that the provisions of the Cash Management Improvement Act (CMIA) (Pub. L. 101–453) govern, payment methods of State agencies, instrumentalities, and fiscal agents shall be consistent with CMIA Treasury-State Agreements or the CMIA default procedures codified at 31 CFR part 205, ‘‘Rules and procedures for efficient Federal State funds transfer.’’ Written procedures for determining the reasonableness, allocability and allowability of costs in accordance with the provisions of the applicable Federal cost principles and the terms and conditions of the award. Accounting records including cost accounting records that are supported by source documentation. SAFEGUARDING U.S. FUNDS. The Recipient Where bonds are required in the situations described above, the bonds shall establish safeguards to ensure that U.S. Federal funds are properly spent. The Recipient shall ensure that funds are not used for any partisan or political activity purposes (whether domestic or foreign)be obtained from companies holding certificates of authority as acceptable sureties, includingas prescribed in 31 CFR part 223, but not limited to: Supporting election, referendum, initiative, or similar procedure; Influencing the outcomes of elections; introducing legislation; Influencing government officials to engage in similar lobbying activity; Preparing, distributing, or using publicity or propaganda, or by urging members of the general public to contribute to or participate in any mass demonstration, march, rally, fund raising drive, lobbying campaign or letter writing or telephone campaign; Influencing or attempting to influence a member of Congress or a federal agency in connection ‘‘Surety Companies Doing Business with the award of any federal contract, grant loan or cooperative agreement; Attending legislative sessions or committee hearings, gathering information regarding legislation, and analyzing the effect of legislation, when such activities are carried on in support of or in knowing preparation for an effort to engage in unallowable lobbying. If FAS funds under this Agreement have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, and officer or employee of Congress, or an employee of a Member of Congress in connections with this Agreement, the Recipient’s signatory official shall complete Standard Form LLL, Disclosure of Lobbying Activities, in accordance with its instructions and submit to the Grants Management Officer. This provision shall be included in the award documents for all subawards at all tiers including subcontracts, sub-grants, and contracts under this Agreements Any person who fails to file the SF-LLL shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. MEMBERS OF U.S. CONGRESS. Pursuant to 41 U.S.C. 22, no United States member of, or United States delegate to, Congress shall be admitted to any share or part of this Agreement, or benefits that may arise there from, either directly or indirectlyStates.’’