Fiscal Limitations Clause Samples

Fiscal Limitations. THIS SECTION 2 SUPERSEDES ANY CONFLICTING PROVISION OF THIS AGREEMENT. This Agreement is subject to the fiscal provisions of the City’s charter and the budget decisions of its Mayor and Board of Supervisors. No funds will be available hereunder until prior written authorization certified by the City’s Controller. The Controller cannot authorize payments unless funds have been certified as available in the budget or in a supplemental appropriation. This Agreement shall automatically terminate, without liability to the City, if funds are not properly appropriated by the Mayor and Board of Supervisors or certified by the Controller. The City's obligations hereunder shall never exceed the amount certified by the Controller for the purpose and period stated in such certification. The City, its employees and officers are not authorized to request services, materials, equipment or supplies that are beyond the scope of those expressly described herein, unless this Agreement is amended in writing and approved as required by law. Without such an amendment or approval, the City shall not be required to pay Contractor for any such services, materials, equipment or supplies. The City, its employees and officers are not authorized to offer or promise any additional funding that would exceed the maximum amount specified in Section 4. Such additional funding requires lawful approval and certification by the Controller. Without such lawful approval and certification, the City shall not be required to provide such additional funding.

Fiscal Limitations. In the event that the funds required for performance of this CONTRACT are withdrawn or are not available for funding hereunder, this CONTRACT may be immediately terminated without penalty to either PARTY. MAG shall be liable to the CONSULTANT for acceptable work performed to the date of termination only, computed as provided in Section IV, Project Costs and Billing Procedures, and Section VII, Costs, of this CONTRACT.

Fiscal Limitations. The United States of America, through HUD, may in the future place programmatic or fiscal limitation(s) on HPRP funds. Accordingly, the County reserves the right, in its sole discretion; to revise this Contract in order to take into account actions affecting HUD program funding. In the event of a HPRP funding reduction by HUD, the County may, in its sole discretion, reduce the compensation amount of this Contract in whole or in part, or may limit the rate of the Operating Agency's use of both its uncommitted and its unspent funds. The Executive Director, or his designee, may act for the County in implementing and effecting such a reduction in the compensation amount of this contract. Where the Executive Director, or his designee, has reasonable grounds to question the fiscal accountability, financial soundness, or compliance with this Contract of the Operating Agency, the Executive Director, or his designee, may act for the County in suspending the operation of this Contract for up to 60 days, upon three (3) days notice to Operating Agency of his intention to so act, pending an audit or other resolution of such questions. In no event, however, shall a revision made by the County affect expenditures and legally binding commitments made by the Operating Agency before it received notice of such revision, provided that such amounts have been committed in good faith and are otherwise allowable, that such commitments are consistent with HUD cash withdrawal guidelines, and that HPRP funds are available to County to satisfy such expenditures or legally binding commitments.

Fiscal Limitations. 21. No Employees; No Assignment or Subcontracting

Fiscal Limitations. Where the Executive Director, or his designee, has reasonable grounds to question the fiscal accountability, financial soundness, or compliance with this Contract of the Operating Agency, the County, through the Executive Director, or his designee, may suspend this Contract for up to sixty (60) days, upon three (3) days notice to Operating Agency, pending an audit or other resolution of such questions. In no event, however, shall a revision made by the County affect expenditures and legally binding commitments made by the Operating Agency before it received notice of such revision, provided that such amounts have been committed in good faith and are otherwise allowable, and that FRHS funds are available to County to satisfy such expenditures or legally binding commitments.

Fiscal Limitations. HUD may in the future place programmatic or fiscal limitation on HOME-ARP Program funds not presently anticipated. Accordingly, the RECIPIENT reserves the right to revise this Agreement in order to take account of actions affecting HUD program funding. In the event of funding reduction, the RECIPIENT may reduce the Allocated Funding of this Agreement, and may, at its sole discretion, limit the SUBRECIPIENT’s authority to commit and spend funds. Where HUD has directed or requested the RECIPIENT to implement a reduction in funding, with respect to funding for this Agreement, the City Manager, or Designee, may act for the RECIPIENT in implementing and effecting such a reduction in revising the Agreement for such purpose. The City Manager or Designee may act for the RECIPIENT in suspending the operation of this Agreement for up to sixty (60) days, upon three (3) days’ prior written notice to the SUBRECIPIENT of its intention to so act. In no event, however, shall any revision made by the RECIPIENT affect expenditures and legally binding commitments made by the SUBRECIPIENT before it received notice of such revision, provided that such amounts have been committed in good faith and are otherwise allowable and that such commitments are consistent with HUD cash withdrawal guidelines.

Fiscal Limitations. It is understood and agreed that certain provisions of this agreement will require The City to assume financial obligations. The City is a municipal corporation and charter city created and existing under the constitution and statutes of Oklahoma. The parties recognize that Oklahoma law imposes fiscal limitations on The City and on its ability to agree to financial obligations. The parties hereto agree that the financial obligations assumed by The City by the terms of this agreement are enforceable only to the extent as may be allowed by law and agree that by virtue of the Oklahoma Constitution, Article X, Section 26, the obligation for payment of City funds in the future will be limited to appropriations and available revenues in the applicable fiscal year. Any provision of this agreement that is judicially determined to be unlawful shall be void and shall be severed from this agreement, and the remainder of the agreement shall be enforceable.

Fiscal Limitations. This MOU imposes no fiscal obligations on any party. All Participating Agencies understand that all fiscal impacts will depend on the availability of funds and budget constraints.

Fiscal Limitations. The United States of America, through HUD, may in the future place programmatic or fiscal limitation(s) on CDBG funding. Accordingly, the City reserves the right, in its sole discretion, to revise this Agreement in order to take into account actions and events affecting CDBG program funding. In the event of a CDBG funding reduction by HUD, the City may, in its sole discretion, reduce the compensation amount of this Agreement in whole or in part, or may limit the rate of the Operating Agency's use of both its uncommitted and its unspent funds. The City, through its City Manager, or his/her designee, may act for the City in implementing and effecting such a reduction in the compensation amount of this Agreement. Where the City, through its City Manager, or his/her designee, has reasonable grounds to question the fiscal accountability, financial soundness, or compliance with this Agreement of the Operating Agency, the City, through the City Manager, or his/her designee, may suspend this Agreement for up to 60 days, upon three (3) days’ notice to the Operating Agency, pending an audit or other resolution of such questions. In no event, however, shall a revision made by the City affect expenditures and legally binding commitments made by the Operating Agency before it received notice of such revision, provided that such amounts have been committed in good faith and are otherwise allowable, that such commitments are consistent with HUD cash withdrawal guidelines, and that CDBG funds are available to the City to satisfy such expenditures or legally binding commitments.