Managing Public Money Sample Clauses

The 'Managing Public Money' clause sets out the rules and responsibilities for handling government or public funds within a contract or agreement. It typically requires parties to adhere to established standards for financial management, such as proper accounting, reporting, and the use of funds strictly for authorized purposes. For example, it may mandate regular audits or compliance with specific government financial guidelines. The core function of this clause is to ensure transparency, accountability, and the proper use of public resources, thereby preventing misuse or misallocation of taxpayer money.
Managing Public Money. As Accounting Officer, the Head of Secretariat shall exercise the following responsibilities in particular: • together with the Board of Commissioners, ensure that ICAI functions in accordance with this Framework Agreement, its annexes and any agreed amendments to these; • ensure ICAI’s annual forward budget proposal is prepared in accordance with section 4.3; • ensure that timely forecasts and monitoring information on finance and governance performance are provided to DFID; that DFID is notified promptly if over- or underspends are likely and that corrective action is agreed and taken, including any adjustments required to DFID’s Main or Supplementary Estimates; and that any significant problems, whether financial or otherwise, and whether detected by internal audit or by other means, are notified to DFID in a timely fashion; • advise Commissioners and ICAI staff on the discharge of their responsibilities as set out in this document and in any other relevant instructions and guidance that may be issued from time to time; • advise Commissioners on ICAI’s performance compared with its aims and objectives; • ensure that financial considerations are taken fully into account by Commissioners at all stages in reaching and executing its decisions, and that standard financial appraisal techniques are followed as far as this is practical; • take action, as set out in Managing Public Money, if ICAI, or the Chief Commissioner, is contemplating a course of action involving a transaction which the Delegated Accounting Officer considers would infringe the requirements of propriety or regularity or does not represent prudent or economical administration or efficiency or effectiveness, is of questionable feasibility, or is unethical; • maintain a comprehensive system of internal delegated authorities which are notified to staff, together with a system for regularly reviewing compliance with these delegations; • ensure that effective personnel management policies are maintained; • ensure that a system of risk management is maintained to inform decisions on financial and operational planning and to assist in achieving objectives and targets; • ensure that an effective system of programme and project management and contract management is maintained; • ensure that all public funds made available to ICAI including any approved income or receipts are used for the purpose intended by Parliament, and that such monies together with ICAI’s assets, equipment and staff, are used ec...
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Managing Public Money. Chapter 3
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Managing Public Money. 46.1 The Sponsor Body shall follow the principles, rules, guidance and advice in Managing Public Money so far as they apply, and will liaise as necessary with HM Treasury in this regard. 46.2 Once an amount is approved for the Programme by Parliament, the Sponsor Body shall have authority to incur expenditure approved in the estimate without further reference to either Corporate Officer. 46.3 The Sponsor Body shall adopt and implement policies and practices to safeguard itself against fraud and theft, in line with HM Treasury’s Guidance on Tackling Internal Fraud, including requirements for monitoring, reporting and assurance. 46.4 Notwithstanding the foregoing, a Party which breaches law, an Agreed Standard, the terms of this Agreement, any protocol or policy which has been agreed between the Parties or the instructions of any Competent Authority shall be responsible (and, where applicable, will be liable) for the consequences and any realisation of a risk.
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Managing Public Money. Accounting Officers are accountable to Parliament for the proper stewardship of the resources allocated to their respective department and this is set out here and in associated guidance.
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Managing Public Money. The Parties agree that the principles contained in the HM Treasury publication “Managing Public Money” will apply to this Agreement.
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Managing Public Money. 4.1 14.5. The Chair also has an obligation to ensure that: • The Non-Executives are appointed and understand their roles and responsibilities; • The responsible minister is advised of ARIA’s needs when Board vacancies arise; • There is a Board Operating Framework in place, setting out the role and responsibilities of the Board consistent with the Government Code of Good Practice for Corporate Governance; • There is a code of practice for Board members in place, consistent with the Cabinet Office’s Code of Conduct for Board Members of Public Bodies; • There are appropriate and regular communication channels to DSIT’s responsible Ministers and Permanent Secretary, and that the Minister and Permanent Secretary have the information they need to discharge their responsibilities to ARIA; • ARIA has a robust conflict of interest policy; • Any significant breaches of the Board’s or Chief Executive’s responsibilities be dealt with in a timely and proportionate manner; • The work of the Board and its members are reviewed, including ongoing assessment of the performance of individual Board members with a formal annual evaluation and more in-depth assessments of the performance of individual Board members when being considered for re-appointment. 14.6. The performance of the Chair is evaluated annually by the Director General for Science, Innovation and Growth, in consultation with the independent Non-Executives, taking into account the views of relevant stakeholders. The outcome of that evaluation should be made available to the Secretary of State.
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Managing Public Money. Managing conflicts of Interest‌ The Chief Executive should delegate to the Institute’s Finance Director11 (or one of the other Executive Board members) the discretion to refer proposals which could involve a conflict of interest to the Board, without first consulting him or her, if they believe that a conflict of interest arises and it would be inappropriate to bring it to the Chief Executive’s attention first. The accountabilities include: • signing the Annual Report and Accounts (ARA); ensuring that proper records are kept in relation to the accounts and ensuring that these are properly prepared and presented in accordance with the 2009 Act by:12 • preparing and signing a governance statement covering corporate governance and risk management for inclusion in the ARA;13 • ensuring that effective procedures for handling complaints about the Institute are established and made widely known within the Institute, including how, where necessary, complaints will be escalated to the Department; • acting in accordance with the terms of this document, Managing Public Money and other instructions and guidance issued from time to time by DfE, HM Treasury and Cabinet Office; and • giving evidence, normally with the PAO, when summoned before the Public Accounts Committee, on the Institute’s stewardship of public funds. • ensuring Parliament is informed in a timely manner of transactions which are required to be specifically reported to it.
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Related to Managing Public Money

  • General Management In the discharge of its general duty to manage the successful performance of the Services, Vendor shall: 3.2.1.1. within thirty (30) calendar days of the Effective Date, identify to Citizens the primary and secondary management contacts responsible for the oversight and management of Services for Citizens; 3.2.1.2. ensure Vendor Staff tasked with management and oversight of the Services are available promptly to perform Services during Business Hours; 3.2.1.3. ensure each assigned Adjuster submits a time record directly to Vendor’s manager or point of contact. At any time during this Agreement, Citizens may require copies of time records from Vendor; 3.2.1.4. ensure that no Vendor Staff carries a weapon on their person while performing Services; 3.2.1.5. ensure that no Vendor Staff uses impairing drugs, chemicals, or alcohol while performing Services; 3.2.1.6. ensure that Vendor Staff avoid using their duties and obligations under this Agreement to engage in any conduct that could create either an actual or perceived conflict of interest, such as due to an ongoing business relationship with an entity other than Citizens that would enable Vendor Staff to receive an improper benefit or unfair competitive advantage; 3.2.1.7. ensure that the Services comply with the Best Claims Practices & Estimating Guidelines as applicable to each Service Category and any other policies or processes set forth by Citizens, including but not limited to: a. monitoring applicable file production on a weekly basis to determine compliance with Citizens’ production requirements; and, b. providing detailed reports to Citizens related to Vendor performance upon request.

  • Investment Management If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio in accordance with the investment objective, policies and limitations provided in the Portfolio's Prospectus or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "1940 Act") and rules thereunder, as amended from time to time, and such other limitations as the Trust or Advisor may impose with respect to the Portfolio by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio with regard to any stock, bond, other security or investment instrument, and to place orders for the purchase and sale of such securities through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the Advisor, to provide additional investment management services to the Portfolio, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money or lending securities on behalf of the Portfolio. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Trust's Board of Trustees.

  • Asset Management Supplier will: i) maintain an asset inventory of all media and equipment where Accenture Data is stored. Access to such media and equipment will be restricted to authorized Personnel; ii) classify Accenture Data so that it is properly identified and access to it is appropriately restricted; iii) maintain an acceptable use policy with restrictions on printing Accenture Data and procedures for appropriately disposing of printed materials that contain Accenture Data when such data is no longer needed under the Agreement; iv) maintain an appropriate approval process whereby Supplier’s approval is required prior to its Personnel storing Accenture Data on portable devices, remotely accessing Accenture Data, or processing such data outside of Supplier facilities. If remote access is approved, Personnel will use multi-factor authentication, which may include the use of smart cards with certificates, One Time Password (OTP) tokens, and biometrics.

  • POSSESSION OF THE APARTMENT PLOT 8.1 Schedule for possession of the said Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartment to the Allottee and the Common Areas to the Association of the Allottees , is the essence of the Agreement. Provided that the Promoter shall be entitled to reasonable extension of time as agreed by and between the Allottee and the Promoter for giving possession of the Apartment on the aforesaid date and the same shall not include the period of extension given by the Authority for registration. The Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment on …………,with a grace period of twelve months (Completion date) in case the Promoter fails to complete the Project. unless there is a delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity or order, rule, notification of the Government and/or other public or competent authority/court and/or caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment, Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. Promoter will be entitled to give block-wise and phase-wise possession upon obtaining the Completion Certificate/ Partial Completion Certificate of a building block or a particular phase as the case may be irrespective of the fact that construction of other Blocks and/or other phases and/or provision of facilities may be incomplete. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date.After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. It is clarified that all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions. 8.2 The right of the Allottee shall remain restricted to the respective Apartment and the properties appurtenant thereto and the Allottee shall have no right, title or interest nor shall claim any right, title or interest of any kind whatsoever over and in respect of any other Apartment or space and/or any other portions of the Project or Complex. 8.3 The Promoter has provided to the Allottee a time schedule for construction progress based on the milestones on which payment is due. The dates provided are only tentative and for the purpose of dealing with contractors and will also make efforts to complete various stages as per the time schedule upto completion of the Project including the provisions of civic infrastructure like water, electricity, sanitation and all other above mentioned internal/external development works but the Promoter knows there will definitely be delays in the timelines provided but the Promoter assures the Allottee that the Project will be completed within the ‘Completion date’ provided in Clause 8.1 above.

  • Managing Director 1. The Managing Director shall be appointed by the Board of Governors from among candidates having the nationality of an ESM Member, relevant international experience and a high level of competence in economic and financial matters. Whilst holding office, the Managing Director may not be a Governor or Director or an alternate of either. 2. The term of office of the Managing Director shall be five years. He or she may be re-appointed once. The Managing Director shall, however, cease to hold office when the Board of Governors so decides. 3. The Managing Director shall chair the meetings of the Board of Directors and shall participate in the meetings of the Board of Governors. 4. The Managing Director shall be chief of the staff of the ESM. He or she shall be responsible for organising, appointing and dismissing staff in accordance with staff rules to be adopted by the Board of Directors. 5. The Managing Director shall be the legal representative of the ESM and shall conduct, under the direction of the Board of Directors, the current business of the ESM.