Financial Records and Accounts Sample Clauses

The Financial Records and Accounts clause requires a party to maintain accurate and complete financial documentation related to the agreement. Typically, this involves keeping detailed records of all transactions, receipts, and expenditures, and may require making these records available for inspection or audit by the other party upon request. This clause ensures transparency and accountability in financial dealings, helping to prevent disputes and facilitate compliance with contractual and regulatory obligations.
Financial Records and Accounts. 1. Fiscal management systems and accounting standards. The Grantee agrees that, at a minimum, its fiscal control and accounting procedures will be sufficient to permit tracing of all Grant Funds to a level of expenditure adequate to establish that such funds have not been used in violation of local, state, or federal law or this Grant Agreement. Unless otherwise prohibited by federal, state, or local law, the Grantee further agrees that it will maintain a separate Grant Fund (including Administrative Fee) accounting location (e.g. QuickBooks or Excel spreadsheet) as required to manage and administer the Project, including the use of generally accepted accounting principles.‌ 2. The Grantee shall not commingle the Grant Fund with any other accounts, revenues, grants, donations, or funds. Maintain all Grant Funds in a separate location designated specifically for the purposes of carrying out the obligations of this Grant. The bank account must be held in the name of the Grantee (the official agency name, and not a dba), and no other person or entity. Grant Funds shall not be used, obligated, or relied upon for any purposes other than those purposes and uses set out in this Grant Agreement. Grant Funds shall not be used as collateral for or an obligation to any debt, loan or other borrower commitments of the Grantee, its officers, directors, Board members, agents, assigns, contractors, subcontractors, representatives, employees, or affiliates. The Grant Fund account shall adequately and accurately depict all amounts received and expended.
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Financial Records and Accounts. The Implementing Partner shall maintain accounts, records and supporting documentation relating to Projects, including funds received and disbursed by the Implementing Partner, in accordance with the Implementing Partner’s Financial Regulations and Rules insofar as applicable.
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Financial Records and Accounts i. Fiscal management systems and accounting standards. Grantee agrees that, at a minimum, its fiscal control and accounting procedures will be sufficient to permit tracing of all Grant Funds and Implementation Funds to a level of expenditure adequate to establish that such funds have not been used in violation of local, state, or federal law or this Grant Agreement. Unless otherwise prohibited by federal, state, or local law, the Grantee further agrees that it will maintain separate Grant Fund (including Administrative Fee) accounts as required to manage and administer the Project, including the use of generally accepted accounting principles. ii. The Grantee shall not commingle the Grant Fund and the Implementation Funds account with any other accounts, revenues, grants, donations, or funds. Maintain all Grant Funds and Implementation Funds in separate bank accounts designated specifically for the purposes of carrying out the obligations of this Grant. The bank accounts must be held in the name of the Grantee (the official agency name, and not a dba), and no other person or entity. Grant Funds and Implementation Funds are not the assets of the Grantee and shall not be used, obligated, or relied upon for any purposes other than those purposes and uses set out in this Grant Agreement. Grant Funds and Implementation Funds shall not be used as collateral for or an obligation to any debt, loan or other borrower commitments of the Grantee, its officers, directors, Board members, agents, assigns, contractors, subcontractors, Grant Recipients, representatives, employees, or affiliates. All Grant Fund and Implementation Funds accounts shall adequately and accurately depict all amounts received and expended.
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Financial Records and Accounts. 1. Fiscal management systems and accounting standards. The Grantee agrees that, at a minimum, its fiscal control and accounting procedures will be 2. The Grantee shall not commingle the Grant Fund with any other accounts, revenues, grants, donations, or funds. Maintain all Grant Funds in a separate location designated specifically for the purposes of carrying out the obligations of this Grant. The bank account must be held in the name of the Grantee (the official agency name, and not a dba), and no other person or entity. Grant Funds shall not be used, obligated, or relied upon for any purposes other than those purposes and uses set out in this Grant Agreement. Grant Funds shall not be used as collateral for or an obligation to any debt, loan or other borrower commitments of the Grantee, its officers, directors, Board members, agents, assigns, contractors, subcontractors, representatives, employees, or affiliates. The Grant Fund account shall adequately and accurately depict all amounts received and expended.
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Related to Financial Records and Accounts

  • Records and Accounts The Trustee shall maintain accurate and detailed records and accounts of all transactions of the Trust, which shall be available at all reasonable times for inspection by any legally entitled person or entity to the extent required by applicable law, or any other person determined by the Committee.

  • Records and Accounting The General Partner shall keep or cause to be kept at the principal office of the Partnership appropriate books and records with respect to the Partnership’s business, including all books and records necessary to provide to the Limited Partners any information required to be provided pursuant to Section 3.4(a). Any books and records maintained by or on behalf of the Partnership in the regular course of its business, including the record of the Record Holders and Assignees of Units or other Partnership Securities, books of account and records of Partnership proceedings, may be kept on, or be in the form of, computer disks, hard drives, punch cards, magnetic tape, photographs, micrographics or any other information storage device; provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with U.S. GAAP.

  • Books, Records and Accounts Custodian acknowledges that all the records it shall prepare and maintain pursuant to this Agreement shall be the property of Fund and that upon request of Fund it shall make Fund's records available to it, along with such other information and data as are reasonably requested by Fund, for inspection, audit or copying, or turn said records over to Fund. Custodian shall, within a reasonable time, render to Fund as of the close of business on each day, a detailed statement of the amounts received or paid and of securities received or delivered for the account of Fund during said day. Custodian shall, from time to time, upon request by Fund, render a detailed statement of the securities and monies held for Fund under this Agreement, and Custodian shall maintain such books and records as are necessary to enable it do so and shall permit such persons as are authorized by Fund, including Fund's independent public accountants, to examine such records or to confirm the contents of such records; and, if demanded, shall permit federal and state regulatory agencies to examine said securities, books and records. Upon the written instructions of Fund or as demanded by federal or state regulatory agencies, Custodian shall instruct any sub- custodian to permit such persons as are authorized by Fund to examine the books, records and securities held by such sub-custodian which relate to Fund.

  • Financial Records 26.1.1 CONTRACTOR shall prepare and maintain accurate and complete financial records. Financial records shall be retained by CONTRACTOR for a minimum of five (5) years from the date of final payment under this Contract, or until all pending COUNTY, State, and federal audits are completed, whichever is later. 26.1.2 CONTRACTOR shall establish and maintain reasonable accounting, internal control, and financial reporting standards in conformity with generally accepted accounting principles established by the American Institute of Certified Public Accountants and to the satisfaction of ADMINISTRATOR.

  • Books Records and Accounting The General Partner shall keep or cause to be kept at the registered office of the Partnership appropriate books and records with respect to the Partnership’s activities and affairs. Any books and records maintained by or on behalf of the Partnership in the regular course of its activities and undertakings, including the record of the Record Holders, books of account and records of Partnership proceedings, may be kept on information storage devices, provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with IFRS-IASB. In accordance with Bermuda Law, the records of account and registers will be kept available for inspection by any Limited Partner or its duly authorized representatives during regular business hours at the registered office of the Partnership. Limited Partners shall not have access to any information of the Partnership contained in its books and records which the General Partner is required by legal or contractual restriction to keep confidential or which, in the opinion of the General Partner, acting reasonably, should be kept confidential in the interests of the Partnership or may be kept confidential as provided in this Agreement, and each Limited Partner hereby waives any right to greater access to the books and records of the Partnership than is permitted herein, to the greatest extent permitted by Law.