Common use of ACCOUNTING AND AUDIT Clause in Contracts

ACCOUNTING AND AUDIT. The Grantee (or its fiscal agent, if applicable) will maintain a separate line item or fund for the grant on its books for accounting purposes. All expenditures must adhere to the specific line items in the approved project budget or in subsequent approved amendments. Expenses charged against this grant may not be incurred either prior to TBD, or subsequent to the expiration or termination date of the grant and may be incurred only as necessary to carry out the purposes and activities of the approved project(s) as set forth in this Agreement. A systematic accounting record shall be kept by the Grantee (or its fiscal agent, if applicable) of the receipt and disbursement of funds and expenditures incurred under the terms of the grant, and the substantiating documents such as bills, invoices, canceled checks, receipt, etc., shall be retained in the Grantee’s (or its fiscal agent’s) files for a period of not less than seven (7) years after expiration of the grant period. The Grantee (or its fiscal agent, if applicable) agrees to promptly furnish the Association with copies of such documents upon the Association’s request. The Grantee (or its fiscal agent, if applicable) agrees to make its books and records available to the Association at reasonable times, and for purposes reasonably related to the Association’s interest in the activities of the Grantee. The Association, at its expense, may audit or have audited the books and records of the Grantee (or its fiscal agent, if applicable) insofar as they relate to the disposition of the funds granted by the Association, and the Grantee (or its fiscal agent, if applicable) shall provide all necessary assistance in connection therewith.

ACCOUNTING AND AUDIT. The Grantee (or its fiscal agent, if applicable) will maintain a separate line item or fund for the grant on its books for accounting purposes. All expenditures must adhere to the specific line items in the approved project budget or in subsequent approved amendments. Expenses charged against this grant may not be incurred either prior to TBDJuly 1st, 2023, or subsequent to the expiration or termination date of the grant and may be incurred only as necessary to carry out the purposes and activities of the approved project(s) as set forth in this Agreement. SAMPLE A systematic accounting record shall be kept by the Grantee (or its fiscal agent, if applicable) of the receipt and disbursement of funds and expenditures incurred under the terms of the grant, and the substantiating documents such as bills, invoices, canceled checks, receipt, etc., shall be retained in the Grantee’s (or its fiscal agent’s) files for a period of not less than seven (7) years after expiration of the grant period. The Grantee (or its fiscal agent, if applicable) agrees to promptly furnish the Association with copies of such documents upon the Association’s request. The Grantee (or its fiscal agent, if applicable) agrees to make its books and records available to the Association at reasonable times, and for purposes reasonably related to the Association’s interest in the activities of the Grantee. The Association, at its expense, may audit or have audited the books and records of the Grantee (or its fiscal agent, if applicable) insofar as they relate to the disposition of the funds granted by the Association, and the Grantee (or its fiscal agent, if applicable) shall provide all necessary assistance in connection therewith.

ACCOUNTING AND AUDIT. The Grantee (or its fiscal agent, if applicable) will maintain a separate line item or fund for the grant on its books for accounting purposes. All expenditures must adhere to the specific line items in the approved project budget or in subsequent approved amendments. Expenses charged against this grant may not be incurred either prior to TBDJuly 1st, 2021, or subsequent to the expiration or termination date of the grant and may be incurred only as necessary to carry out the purposes and activities of the approved project(s) as set forth in this Agreement. A systematic accounting record shall be kept by the Grantee (or its fiscal agent, if applicable) of the receipt and disbursement of funds and expenditures incurred under the terms of the grant, and the substantiating documents such as bills, invoices, canceled checks, receipt, etc., shall be retained in the Grantee’s (or its fiscal agent’s) files for a period of not less than seven (7) years after expiration of the grant period. The Grantee (or its fiscal agent, if applicable) agrees to promptly furnish the Association with copies of such documents upon the Association’s request. The Grantee (or its fiscal agent, if applicable) agrees to make its books and records available to the Association at reasonable times, and for purposes reasonably related to the Association’s interest in the activities of the Grantee. The Association, at its expense, may audit or have audited the books and records of the Grantee (or its fiscal agent, if applicable) insofar as they relate to the disposition of the funds granted by the Association, and the Grantee (or its fiscal agent, if applicable) shall provide all necessary assistance in connection therewith.

ACCOUNTING AND AUDIT. The Grantee (or its fiscal agent, if applicable) will maintain a separate line item or fund for the grant on its books for accounting purposes. All expenditures must adhere to the specific line items in the approved project budget or in subsequent approved amendments. Expenses charged against this grant may not be incurred either prior to TBDJuly 1st, 2020, or subsequent to the expiration or termination date of the grant and may be incurred only as necessary to carry out the purposes and activities of the approved project(s) as set forth in this Agreement. A systematic accounting record shall be kept by the Grantee (or its fiscal agent, if applicable) of the receipt and disbursement of funds and expenditures incurred under the terms of the grant, and the substantiating documents such as bills, invoices, canceled checks, receipt, etc., shall be retained in the Grantee’s (or its fiscal agent’s) files for a period of not less than seven (7) years after expiration of the grant period. The Grantee (or its fiscal agent, if applicable) agrees to promptly furnish the Association with copies of such documents upon the Association’s request. The Grantee (or its fiscal agent, if applicable) agrees to make its books and records available to the Association at reasonable times, and for purposes reasonably related to the Association’s interest in the activities of the Grantee. The Association, at its expense, may audit or have audited the books and records of the Grantee (or its fiscal agent, if applicable) insofar as they relate to the disposition of the funds granted by the Association, and the Grantee (or its fiscal agent, if applicable) shall provide all necessary assistance in connection therewith.