Common use of Fiscal Controls Clause in Contracts

Fiscal Controls. A. CMP shall adopt and meet generally accepted accounting principles and shall adopt and maintain policies to ensure CMP’s funds are used to most effectively support CMP’s mission and to ensure that funds are budgeted, accounted for, expended, and maintained in an appropriate and lawful fashion. Such policies will include, but not be limited to, principles that ensure that: (1) expenditures are authorized in accordance with amounts specified in the adopted budget; (2) CMP’s funds are managed and held in a manner that provide a high degree of protection of CMP’s assets; and (3) all transactions are recorded and documented in an appropriate manner that allows reporting to the State as required by the District, the County Office of Education, or the California Department of Education.

Appears in 1 contract

Sources: Memorandum of Understanding

Fiscal Controls. A. CMP shall adopt and meet generally accepted accounting principles and shall adopt and maintain policies to ensure CMP’s funds are used to most effectively support CMP’s mission and to ensure that funds are budgeted, accounted for, expended, and maintained in an appropriate and lawful fashion. Such policies will include, but not be limited to, principles that ensure that: (1) expenditures are authorized in accordance with amounts specified in the adopted budget; (2) CMP’s funds are managed and held in a manner that provide a high degree of protection of CMP’s assets; and (3) all transactions are recorded and documented in an appropriate manner that allows reporting to the State as required by the District, the County Office of Education, or the California Department of Education.

Appears in 1 contract

Sources: Memorandum of Understanding

Fiscal Controls. A. CMP shall adopt and meet generally accepted accounting principles and shall adopt and maintain policies to ensure CMP’s 's funds are used to most effectively support CMP’s 's mission and to ensure that funds are budgeted, accounted for, expended, and maintained in an appropriate and lawful fashion. Such policies will include, but not be limited to, principles that ensure that: (1) } expenditures are authorized in accordance with amounts specified in the adopted budget; (2) CMP’s 's funds are managed and held in a manner that provide a high degree of protection of CMP’s 's assets; and (3) all transactions are recorded and documented in an appropriate manner that allows reporting to the State as required by the District, the County Office of Education, or the California Department of Education.

Appears in 1 contract

Sources: Memorandum of Understanding