Fiscal Responsibility Clause Samples

Fiscal Responsibility. It is understood and agreed that the total amount of the funds used under this Agreement shall be used only for the project as described in the application and award documentation. Therefore, should the project not be completed, the Subrecipient shall reimburse said funds directly to the AZDOHS immediately. If the project is completed at a lower cost than the original budget called for, the amount reimbursed to the Subrecipient shall be for only the amount of dollars actually spent by the Subrecipient in accordance with the approved application. For any funds received under this Agreement for which expenditure is disallowed by an audit exemption or otherwise by the AZDOHS, the State, or Federal government, the Subrecipient shall reimburse said funds directly to the AZDOHS immediately.

Fiscal Responsibility. The Contractor must demonstrate the ability to safeguard public funds including maintaining books, records, documents and other materials relevant to the provision of goods and services.

Fiscal Responsibility. Maintain a fiscal year as a calendar year in compliance with SDA’s bylaws. Maintain a separate checking account for CHAPTER business. Provide SDA with a balance sheet and income statement by March 15 of each year.

Fiscal Responsibility. ° create and manage the Project budget; and ° secure adequate cash and in-kind partners; and ° prepare and submit quarterly progress reports and the Project final report to the City.

Fiscal Responsibility. We have a joint responsibility to utilize resources effectively, maintain a balanced budget, and ensure resources are best used to help all members of the school system reach their potential.

Fiscal Responsibility. 14.1. The Operator agrees to keep and maintain, at its office in the applicable Facility, separate and independent records, in accordance with generally accepted accounting principles, devoted exclusively to its Facilities management operations in the City of Overland Park, Kansas. Said books, ledgers, journals, accounts, and records shall contain all entries reflecting the business operations of the Operator under this Agreement. All of the foregoing records shall be open for examination and audit by the Contract Administrator or City designated and authorized agents or personnel during the Operator’s ordinary business hours. 14.2. The Operator agrees to render, within fifteen (15) days after the end of each month, financial reports for each Facility and for the combined Facilities including a balance sheet, aging report on accounts receivable, and statement of revenues and expenditures (budget to actual) for the current month and year to date in accordance with generally accepted accounting principles. In addition, the Operator will immediately upon request by the City provide information on the Facilities Operating Account and the Facilities Lockbox Account. 14.3. The Operator agrees to meet with the Contract Administrator to answer questions relating to the operation of the Facilities and the financial reports. In addition, Operator agrees within sixty (60) days following the end of each fiscal year to provide or cause to be provided to the City a certified audit report on the accounts and records as kept by the Operator for the Facilities. This certified audit report will be paid from appropriate funds set aside in the operating budget. The Operator shall utilize an external auditor approved by the City to conduct this audit of the accounts and records of the Facilities in accordance with generally accepted auditing standards. A letter from said accounting firm expressing its opinion as to the effectiveness of internal controls and a management letter will accompany the audit report. At the option of the City and at its expense, additional audits may be performed. 14.4. The Operator agrees to use forms, accounting methods, internal controls and procedures for its reports that are acceptable to the City. 14.5. The City may request additional financial or statistical reports with respect to the Facilities, and the Operator shall promptly provide same. It is agreed that such requests by the City will be reasonable with respect to timing and frequency. An...

Fiscal Responsibility. (a) The Energy Cooperative Member is not responsible for the payment of any sum of money to the Energy Cooperative, TASB, or an Energy Services Vendor solely by reason of the Member’s execution of this Agreement. A payment obligation for the Member will only arise under the terms and provisions of a Letter of Commitment, Energy Services Agreement, or other separate contractual document entered into by the Member. (b) The Energy Cooperative Member hereby warrants that all payments, fees, and disbursements required of it hereunder shall be made from current revenues budgeted and available to the Member.

Fiscal Responsibility. On a quarterly basis, State will review agency financial records that support requests for reimbursement.

Fiscal Responsibility. The Board of Directors shall be responsible for an annual operating budget and such budget shall be limited to the anticipated income for a given budget period. The Board of Directors shall carry out the mandate and policies laid down by conventions, within one hundred eighty (180) days following adjournment, and shall have full power to take such actions as are necessary and expedient to attain maximum operating efficiency and to give substance to the purposes of the Union. At least twelve (12) months in advance, the Board of Directors shall fix the date and location of the regular biennial convention.