Fiscal Monitoring Clause Samples

The Fiscal Monitoring clause establishes the requirement for ongoing oversight and review of financial activities related to a contract or project. Typically, this involves regular reporting, audits, or submission of financial statements to ensure that funds are being used appropriately and in accordance with agreed-upon terms. By mandating such monitoring, the clause helps prevent misuse of funds, promotes transparency, and ensures accountability in financial management.
Fiscal Monitoring. The parties agree that the Sponsor, upon a ten (10) business day notice, may make reasonable requests and the School shall provide, documents, including releases, on the School’s financial operations beyond the monthly reports required by this Charter. Such reports shall be in addition to those required elsewhere in this Charter and be signed and approved by the chair of the School’s Governing Board.
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Fiscal Monitoring. The Coalition will monitor expenditure of funds provided under this Contract by the Contractor through: 1. Monthly desk reviews of Contractor’s invoices; 2. Review of the Contractor’s annual fiscal report; and 3. An onsite review of the documentation of costs associated with the activities performed under this Contract.
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Fiscal Monitoring. The School shall provide monthly financial reports to the Sponsor, to be delivered to the Sponsor no later than thirty (30) days following the quarter. The statement shall include a balance sheet and a statement of revenues and expenditures and changes in fund balances prepared in accordance with Generally Accepted Accounting Principles and in a format to include a detail of all revenue and expenditure activities compared to budgeted amounts relating to its operations. The School shall file the appropriate reports with the respective state and federal agencies.
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Fiscal Monitoring. Section 1002.33(5)(b)2, Florida Statutes (2005), requires the Sponsor to monitor the revenues and expenditures of the school.
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Fiscal Monitoring. The School shall prepare and maintain monthly financial statements, which shall include a balance sheet and a statement of revenues, expenditures and changes in fund balance. The monthly financial statements shall be prepared in accordance with the function/object dimensions prescribed in the FDOEFLDOE publication, Financial and Program Cost Accounting and Reporting for Florida Schools (the "Red Book"). The School shall also prepare and maintain all reports required to be filed with the Government of the United States and the State of Florida Such reports shall include, but are not limited to, all payroll tax returns and any required filing relating to the School's non-profit status.
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Fiscal Monitoring. Provider agrees to participate in Fiscal Monitoring, when selected, as follows: a. Provider agrees to allow VSUW to perform audits and/or review of its files associated with the Program. b. An “Observation” is a matter of concern that needs to be addressed and will require a monetary adjustment if corrective action is not taken to ensure compliance. c. Provider is required to fulfill the noted action necessary for any Observations within ten (10) business days of notification by VSUW to Provider. d. Provider acknowledges that failure to respond to any Observations by VSUW within ten (10) business days of notification will result in payments being delayed until the next scheduled payment or until all Observations have been resolved to VSUW’s satisfaction. e. Provider acknowledges that failure to respond to any Observations by VSUW within thirty (30) business days of notification will result in the recovery of overpayment by VSUW through the offset of Provider’s future payments, or, if Provider no longer participates in the Program, Provider shall pay VSUW any monies owed resulting Provider’s failure to resolve any action requested or noted by VSUW. f. Any child(ren) for which eligibility has not been proven within thirty (30) business days of notification by VSUW to Provider will be vacated from the Program effective immediately.
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Fiscal Monitoring. Section 1002.33(5)(b)2, Florida Statutes, requires the Sponsor to mon- itor the revenues and expenditures of the school. The School will provide a monthly financial report to the Sponsor, to be delivered to the Sponsor no later than the twentieth (20th) day of the following month. These financial reports shall be cumulative and in the format prescribed by the Sponsor’s finance department. The report shall include revenue and expenditure information in detail commensurate with the original budget. As such, it shall have individual columns for (a) the budget, (b) revenues and expenditures, month-to-date; (c) revenues and expenditures, year-to-date; (d) the budget balance (excess or deficiency of budgeted to actual); (e) The School shall provide the Sponsor with annual financial reports. These reports must include a complete set of financial statements and notes prepared in accor- dance with Generally Accepted Accounting Principles in the state required formats for inclusion on the Sponsor’s financial statements, formatted by revenue source and expenditures and de- tailed by functions and object by the following time line: (1) unaudited statements: no later than August 20th of each year; and (2) audited statements: not later than September 20 of each year.
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Fiscal Monitoring. Kankakee County fiscal staff will monitor all youth programs at least once annually. Monitoring visits will be designed to determine the level of accuracy of fiscal management of the program according to DCEO and federal regulations. Monitoring visits may include site inspections, file review, staff interviews and/or invoice reviews. Additional elements may be added to fiscal monitoring visits at any time without notice to the Contractor.
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Related to Fiscal Monitoring

  • Compliance Monitoring Grantee must be subject to compliance monitoring during the period of performance in which funds are Expended and up to three years following the closeout of all funds. In order to assure that the program can be adequately monitored, the following is required of Grantee: a. Grantee must maintain a financial tracking system provided by Florida Housing that ensures that CRF funds are Expended in accordance with the requirements in this Agreement. b. Grantee must maintain records on all awards to Eligible Persons or Households. These records must include, but are not limited to: i. Proof of income compliance (documentation from submission month, including but not limited to paystub, Florida unemployment statement, social security and/or disability statement, etc.); ii. Lease; and iii. Documentation of rental assistance payments made.

  • Program Monitoring The Contractor will make all records and documents required under this Agreement as outlined here, in OEC Policies and NHECC Policies available to the SRO or its designee, the SR Fiscal Officer or their designee and the OEC. Scheduled monitoring visits will take place twice a year. The SRO and OEC reserve the right to make unannounced visits.

  • Project Monitoring The Developer shall provide regular status reports to the NYISO in accordance with the monitoring requirements set forth in the Development Schedule, the Public Policy Transmission Planning Process Manual and Attachment Y of the OATT.

  • Contract Monitoring The criminal background checks required by this rule shall be national in scope, and must be conducted at least once every three (3) years. Contractor shall make the criminal background checks required by Paragraph IV.G.1 available for inspection and copying by DRS personnel upon request of DRS.

  • Performance Monitoring ‌ A. Performance Monitoring of Subrecipient by County, State of California and/or HUD shall consist of requested and/or required written reporting, as well as onsite monitoring by County, State of California or HUD representatives. B. County shall periodically evaluate Subrecipient’s progress in complying with the terms of this Contract. Subrecipient shall cooperate fully during such monitoring. County shall report the findings of each monitoring to Subrecipient. C. County shall monitor the performance of Subrecipient against the goals, outcomes, milestones and performance standards required herein. Substandard performance, as determined by County, will constitute non-compliance with this Contract for which County may immediately terminate the Contract. If action to correct such substandard performance is not taken by Subrecipient within the time period specified by County, payment(s) will be denied in accordance with the provisions contained in this Paragraph 47 of this Contract. D. HUD in accordance with 24 CFR Part 570 Subpart O, 570.902, will annually review the performance of County to determine whether County has carried out its Community Development Block Grant (CDBG) assisted activities in a timely manner and has significantly disbursed CDBG funds and met the mandated “1.5 ratio” threshold. Subrecipient is responsible to ensure timely drawdown of funds.