Common use of Standards for Financial and Programmatic Management Clause in Contracts

Standards for Financial and Programmatic Management. Grantee and its governing body shall bear full and sole responsibility for the integrity of the fiscal and programmatic management of the organization. Grantee and its governing body shall also implement policies and procedures to ensure the integrity of the fiscal and programmatic management of the organization. Such fiscal and programmatic management shall include accountability for all funds and materials received from the Commission; compliance with Commission rules, policies and procedures, and applicable federal and state laws and regulations; and correction of fiscal and program deficiencies identified through self-evaluation and/or the Commission's monitoring processes. Ignorance of any grant provisions or other requirements referenced in this grant shall not constitute a defense or basis for waiving or failing to comply with such provisions or requirements. Grantee shall develop, implement, and maintain appropriate financial management and control systems, which include budgets that adequately reflect all functions and resources necessary to carry out authorized activities and the adequate determination of costs; accurate and complete payroll, accounting, and financial reporting records; cost source documentation; effective internal and budgetary controls; allocation of costs; and timely and appropriate audits and resolution of any findings; and applicable annual financial statements.

Standards for Financial and Programmatic Management. The Grantee and its governing body shall bear full and sole responsibility for the integrity of the fiscal and programmatic management of the organization. The Grantee and its governing body shall also implement policies and procedures to ensure the integrity of the fiscal and programmatic management of the organization. Such fiscal and programmatic management shall include accountability for all funds and materials received from the Commission; compliance with Commission rules, policies and procedures, and applicable federal and state laws and regulations; and correction of fiscal and program deficiencies identified through self-evaluation and/or the Commission's monitoring processes. Ignorance of any grant provisions or other requirements referenced in this grant Contract or the HPF Grants Manual shall not constitute a defense or basis for waiving or failing to comply with such provisions or requirements. The Grantee shall develop, implement, and maintain appropriate financial management and control systems, which include budgets that adequately reflect all functions and resources necessary to carry out authorized activities and the adequate determination of costs; accurate and complete payroll, accounting, and financial reporting records; cost source documentation; effective internal and budgetary controls; allocation of costs; and timely and appropriate audits and resolution of any findings; and applicable annual financial statements.