Accounting and Cash Management a. Subrecipient will comply with controls, record keeping and fund accounting procedure requirements of WIOA, federal and state regulations, and directives to ensure the proper disbursal of, and accounting for, program funds paid to the Subrecipient and disbursed by the Subrecipient, under this subgrant agreement.
b. Subrecipient will submit requests for cash to coincide with immediate cash needs and assure that no excess cash is on deposit in their accounts or the accounts of any sub-contracting service provider in accordance with procedures established by the Pass-through Entity. Failure to adhere to these provisions may result in suspending cash draw down privileges and providing funds through a reimbursement process.
c. The Pass-through Entity retains the authority to adjust specific amounts of cash requested if the Pass-through Entity's records and subsequent verification with the Subrecipient indicate that the Subrecipient has an excessive amount of cash in its account.
d. Income (including interest income) generated as a result of the receipt of WIOA activities, will be utilized in accordance with policy and procedures established by the Pass-through Entity. Subrecipient will account for any such generated income separately.
e. Subrecipient shall not be required to maintain a separate bank account but shall separately account for WIOA funds on deposit. All funding under this subgrant agreement, will be made by check or wire transfer payable to the Subrecipient for deposit in Subrecipient's bank account or city and county governmental bank accounts. To provide for the necessary and proper internal controls, funds should be withdrawn and disbursed by no less than two representatives of the Subrecipient. The Pass- through Entity will have a lien upon any balance of WIOA funds in these accounts, which will take priority over all other liens or claims.
Accounting and Cash Management a. Contractor will comply with controls, record keeping and fund accounting procedure requirements of WIA, Federal and State regulations and directives to ensure the proper accounting for program funds paid under this agreement.
b. Contractor shall maintain fiscal accounts in a manner sufficient to permit tracking of funds received and levels of expenditures. Records and books shall be audible and up to date at all times.
c. Income (including interest income) generated as a result of the receipt of funds under this agreement will be utilized in accordance with the policy and procedure established by the County. Contractor will account for any such income generated separately.
d. Contractor shall immediately advise County of any improper or fraudulent use of funds under this Agreement, any misinformation supplied to County, or any circumstances giving rise to possible or apparent misuse of funds.
e. Contractor may be required to establish a separate bank or trust account for funds received, and shall maintain a separate fund accounting for these funds.
f. Contractors that are public or non-profit entities with a fixed unit price agreement shall use revenues in excess of costs, or so called “profits” for the following purposes:
1. Add the “profit” to funds committed to the program and use it to further program objectives; or
2. Deduct the “profit” from the fixed unit price performance billing in determining the net amount on which WIA share of billing will be used;
3. Use the “profit” to satisfy the WIA matching requirements, if applicable. In addition, Contractor shall:
1. Submit the amount of excess revenue or “profit” to San Mateo County WIB within 45 days after the end of the fiscal year; and
2. Maintain the necessary financial records which account for the use of these funds, in anticipation of possible audit.
3. Remit immediately to the San Mateo County WIB any excess revenue which will not be utilized within one year after the end of the fiscal year in which it was earned.
g. Costs incurred before and after the effective dates of the Agreement will not be allowed.
h. Contractor shall report any additional or unexpected funds received in conjunction with the services provided under the terms of this Agreement to the County upon receipt of such funds or notification of award of such funds.
Accounting and Cash Management a) Subrecipient will comply with controls, record keeping and fund accounting procedure requirements of WIOA, federal and state regulations and directives to ensure the proper disbursal of, and accounting for, program funds paid to the Subrecipient and disbursed by the Subrecipient, under this agreement.
b) Income (including interest income) generated as a result of the receipt of WIOA activities, will be utilized in accordance with policy and procedures established by the SDWP. Subrecipient will account for any such generated income separately.
c) Subrecipient shall not be required to maintain a separate bank account but shall separately account for WIOA funds on deposit. All funding under this agreement, will be made by check or wire transfer payable to the Subrecipient for deposit in Subrecipient's bank account or city and county governmental bank accounts. To provide for the necessary and proper internal controls, funds should be withdrawn and disbursed by no less than two representatives of the Subrecipient. The SDWP will have a lien upon any balance of WIOA funds in these accounts, which will take priority over all other liens or claims.
Accounting and Cash Management a). Contractor will comply with controls, record keeping and fund accounting procedure requirements of WIOA, federal and state regulations and directives to ensure the proper disbursal of, and accounting for, program funds paid to the Contractor and disbursed by the Contractor, under this agreement.
b). Income (including interest income) generated as a result of the receipt of WIOA activities, will be utilized in accordance with policy and procedures established by the "pass-through" entity. Contractor will account for any such generated income separately.
c). Contractor shall not be required to maintain a separate bank account but shall separately account for WIOA funds on deposit. All funding under this agreement, will be made by check or wire transfer payable to the Contractor for deposit in Contractor's bank account or city and county governmental bank accounts. To provide for the necessary and proper internal controls, funds should be withdrawn and disbursed by no less than two representatives of the Contractor.The "pass-through" entity will have a lien upon any balance of WIOA funds in these accounts, which will take priority over all other liens or claims.
Accounting and Cash Management a. Contractor will comply with controls, record keeping and fund accounting procedure requirements of WIA, federal and state regulations and directives to ensure the proper disbursal of, and accounting for, program funds paid to the Sub-‐ Contractor and disbursed by the Contractor, under this contract.
b. Income (including interest income) generated as a result of the receipt of WIA activities, will be utilized in accordance with policy and procedures established by East Bay Community Services/La Familia Counseling Service. Sub-‐Contractor will account for any such generated income separately.
Accounting and Cash Management. TCSOS shall have in place established fiscal controls, record keeping and fund accounting procedures to ensure the proper disbursal of, and accounting for, program funds paid to it and disbursed by it, under this Agreement.
Accounting and Cash Management i. Grantee shall have in place established fiscal controls, record keeping and fund accounting procedures to ensure the proper disbursal of, and accounting for, program funds paid to the Grantee and disbursed by the Grantee, under this Agreement.
ii. At the termination of this Agreement, funds not expended for the purpose of this Agreement shall be immediately remitted to the Commission and no longer available to the Grantee, unless the Commission renegotiates an extension of the Agreement term. Any funds previously obligated by the Grantee shall be spent within one (1) year of the termination of the Agreement.
Accounting and Cash Management a). Subgrantee will comply with controls, record keeping and fund accounting procedure requirements of WIA, federal and state regulations and directives to ensure the proper disbursal of, and accounting for, program funds paid to the Subgrantee and disbursed by the Subgrantee, under this subgrant agreement.
b). Subgrantee will submit requests for cash to coincide with immediate cash needs and assure that no excess cash is on deposit in their accounts or the accounts of any sub-contracting service provider in accordance with procedures established by the Subgrantor. Failure to adhere to these provisions may result in suspending cash draw down privileges and providing funds through a reimbursement process.
c). The Subgrantor retains the authority to adjust specific amounts of cash requested if the Subgrantor's records and subsequent verification with the Subgrantee indicate that the Subgrantee has an excessive amount of cash in its account.
Accounting and Cash Management. Grantee shall have, in place, established fiscal controls, record keeping and fund accounting procedures to ensure the proper disbursal of, and accounting for, program funds paid to the Grantee and disbursed by the Grantee, under this agreement. At the expiration of the term of this agreement or upon termination prior to the expiration of this agreement, funds not expended for the purpose of this agreement shall be immediately remitted to the Commission and no longer available to the Grantee, unless the Commission renegotiates the agreement term. Any funds obligated by the Grantee shall be spent within one (1) year of the expiration or termination of the agreement.
Accounting and Cash Management a). Contractor will comply with controls, record keeping and fund accounting procedure requirements of WIOA, federal and state regulations and directives to ensure the proper disbursal of, and accounting for, program funds paid to the Contractor and disbursed by the Contractor, under this agreement.
