Fiscal Control Clause Samples

Fiscal Control a. The LHD shall comply with the Local Government Budget and Fiscal Control Act, North Carolina General Statute Chapter 159, Article 3. 1. The LHD shall maintain a purchasing and procurement system in accordance with generally accepted accounting practices and procedures set forth by the Local Government Commission. b. The LHD shall execute written agreements with all parties who invoice the LHD for payment for the provision of services to patients. Exceptions may be permitted in cases where the patient has a preference for a non-contracted provider and that provider verbally agrees to abide by program requirements and to accept program payment as payment in full. c. The LHD, when subcontracting, must meet the following conditions: 1. The LHD is not relieved of any of the duties and responsibilities provided in this Agreement. 2. The LHD will not enter into a subcontractual financial assistance agreement with any entity on the current North Carolina Office of State Budget and Management (OSBM) “Suspension of Funding” list (SOFL) and shall withhold funds not yet disbursed until the entity has been removed from the SOFL. Updated SOFLs are released weekly and are available on the OSBM website (▇▇▇▇▇://▇▇▇.▇▇▇▇.▇▇.▇▇▇/management/grants). 3. The subcontractor will agree to abide by the standards contained herein or to provide such information as to allow the LHD to comply with these standards. 4. The subcontractor shall be subject to all conditions of this Agreement and of any subsequent Agreement Addenda for which they perform work on behalf of the LHD. 5. The subcontractor will agree to allow State and federal authorized representatives’ access to any records pertinent to its role as a subcontractor of the LHD. 6. Upon request, the LHD will make available to the State a copy of subcontracts supported with State or federal funds. d. The LHD must receive prior written approval from the State to subcontract when any of the following conditions exist: 1. The LHD proposes to subcontract to a single entity 50 percent or more of the total State and federal funds made available through this Agreement. 2. The LHD proposes to subcontract 50 percent or more, or $50,000, whichever is greater, of the total State and federal funds made available through this Agreement for any Agreement Addendum. 3. The LHD proposes to subcontract for services in the Women, Infants and Children (WIC)

Fiscal Control. 1. The Department shall comply with the Local Government Budget and Fiscal Control Act, North Carolina General Statute Chapter 159, Article 3.

Fiscal Control. The Company shall adopt a Management of Fiscal Affairs Policy applicable to the Group Companies, which policy shall be reasonably satisfactory to a majority in interest of the holders of the then outstanding Preferred Shares.

Fiscal Control. The SUBRECIPIENT shall be responsible for the internal control and monitoring of fiscal and programmatic/operational goals and procedures. The SUBRECIPIENT shall establish such fiscal controls and fund accounting procedures as required by Federal regulations, or as may be deemed necessary by HUD and CITY to ensure the proper disbursal of, and accounting for, funds paid to the SUBRECIPIENT under the CDBG PROGRAMS.

Fiscal Control. The Grantee shall maintain accounting records and establish policies and provide procedures to assure sound fiscal control, effective management, and efficient use of Grant Funds. The Grantee shall establish fiscal control and accounting procedures to assure proper disbursement of, and accounting for, Grant Funds. Accounting procedures must provide for the accurate and timely recording of receipt of funds by source, expenditures made from such funds, and unexpended balances. Controls must be adequate to ensure that expenditures charged to grant activities are made for allowable purposes only.

Fiscal Control. The Intergovernmental Agency shall maintain its financial records in accordance with generally accepted accounting principles. An annual budget shall be adopted by the Intergovernmental Agency. All financial activities shall be audited by a certified public accountant at the conclusion of each fiscal year. Members shall be furnished copies of the annual audit and all other financial records they may from time to time request.

Fiscal Control. Blueprint shall maintain its financial records in accordance with generally accepted accounting principles. An annual budget shall be adopted by Blueprint. All financial activities shall be audited by a certified public accountant at the conclusion of each fiscal year. Members shall be furnished copies of the annual audit and all other financial records they may from time to time request.

Fiscal Control. The Contractor shall be responsible for the internal control and monitoring of fiscal and programmatic/operational goals and procedures. The Contractor shall establish such fiscal controls and fund accounting procedures as required by Federal regulations, or as may be deemed necessary by FEMA, Cal OES and the County to ensure the proper disbursal of, and accounting for, funds paid to the Contractor under the HMGP for compliance monitoring by the County per 2 CFR 200.303 (Internal Controls). Disbursement of Funds: HMGP funds shall generally be disbursed by County to the Contractor on a reimbursement for actual expenses basis. The County agrees to pay the Contractor progress payments at the time and in the manner set forth in the Schedule of Compensation, Exhibit A. Payment by the County is not to be construed as final in the event FEMA and/or the Cal OES disallow reimbursements for the project or any portion thereof. Source documentation, as specified by the County, supporting the invoice(s) shall be submitted by the Contractor with request for payment. The Contractor shall be liable for all amounts which are determined to be due by FEMA and/or Cal OES including, but not limited to, disallowed costs which are the result of the Contractor’s or its sub- contractor’s conduct under this Contract. The Contractor shall be notified in writing and shall be permitted to respond regarding any controversy or proceeding between the County and FEMA and/or Cal OES arising from this Contract. Disallowed costs for which payment has been made by the County shall be withheld from future payments or from final retention. If adequate funding is not available, the Contractor shall reimburse the County. All financial transactions must be supported by complete and verifiable source documents. Records shall provide a clear audit trail and shall be maintained as specified in Section 20 (Agreement Responsibility for Monitoring and Records) of this Contract.

Fiscal Control. A. LHD shall comply with the Local Government Budget and Fiscal Control Act, North Carolina General Statute Chapter 159, Article 3. 1. LHD shall maintain a purchasing and procurement system in accordance with generally accepted accounting principles and procedures set forth by the Local Government Commission.10 10 ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/divisions/state-and-local-government-finance-division/local-government-commission B. LHD shall execute written agreements with all parties who invoice LHD for payment for the provision of services to patients. Exceptions may be permitted in cases where the patient has a preference for a non-contracted provider and that provider verbally agrees to abide by program requirements and to accept program payment as payment in full. C. When subcontracting, LHD must meet the following requirements: 1. LHD is not relieved of the duties and responsibilities provided in this Consolidated Agreement and Agreement Addenda. 2. LHD will not enter into a financial assistance agreement with any entity on the current North Carolina Office of State Budget and Management (OSBM) Suspension of Funding List (SOFL) and shall withhold funds not yet disbursed until the entity has been removed from the SOFL. Updated SOFLs are released weekly and are available on the OSBM website.11 3. LHD shall require its subcontractor to agree to abide by the standards set out in this Consolidated Agreement and relevant Agreement Addenda or to provide such information as to allow LHD to comply with these standards. 4. LHD shall subject its subcontractor to all conditions of this Consolidated Agreement and of any subsequent Agreement Addenda for which they perform work on behalf of LHD. 5. LHD shall require its subcontractor to allow DCFW and/or DPH and federal authorized representatives’ access to any records pertinent to its role as a subcontractor of LHD. 6. Upon request, LHD will make available to DCFW and/or DPH a copy of subcontracts supported with State or federal funds.