Audit Issue Sample Clauses

Audit Issue. 5: ARRA Loan Forgiveness should be CIAC Audit included a finding in its January 19, 2021 audit report pertaining to a loan that PAC received through the American Recovery and Reinvestment Act (ARRA) relative to its Catamount Road project that included a principal forgiveness component. Audit found that $1,430 in principal forgiveness provided to PAC during 2019 was recognized by PAC as a ‘Gain From Forgiveness of SRF Debt’ rather than as Contributions in Aid of Construction (CIAC). Audit disagreed with XXX’s accounting for the loan forgiveness in this manner. In response, XXX argued that since the principal forgiveness provision associated with this particular loan is not necessarily guaranteed, it has no choice but to account for it in the manner it does. Further, it is PAC’s assertion that “any current and previously forgiven principal amount cannot be classified as CIAC, if the benefit is revocable at a future point in time.” The DOE notes that under the ratemaking structure proposed in this Agreement, neither PAC’s CIAC account nor its ‘Gain’ account will have any impact on the calculation of the Company’s revenue requirement. As such, the Settling Parties agree and recommend the Commission find that PAC’s current methodology for accounting for principal forgiveness on its ARRA loan is acceptable.
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  • Grievance Representatives Within 30 working days after the execution of this Agreement, the Union shall furnish the Xxxxxxx with a list of all persons authorized to act as the Chapter and UPI Local Grievance Representatives and shall update the list as changes occur. The designated Chapter Grievance Representative shall be an employee of the University and shall have the responsibility to meet classes, office hours, and other assigned duties and responsibilities. If the responsibilities of the Chapter Grievance Representative require rescheduling of the representative's University duties, the representative may, with the approval of the Xxxxxxx, arrange for the rescheduling of such duties or their coverage by colleagues. Such approval shall not be unreasonably withheld. The provisions of Article 15.4. shall also apply to the UPI Local Grievance Representative if he or she is an employee of the University.

  • Agent Subject to any other written instructions of the Adviser or the Trust, the Subadviser is hereby appointed the Adviser’s and the Trust’s agent and attorney-in-fact for the limited purposes of executing account documentation, agreements, contracts and other documents as the Subadviser shall be requested by brokers, dealers, counterparties and other persons in connection with its management of the Subadviser Assets. The Subadviser agrees to provide the Adviser and the Trust with copies of any such agreements executed on behalf of the Adviser or the Trust.

  • Other Agents Nothing in this Agreement is to be interpreted as limiting the Company from employing other personnel on such terms and conditions as may be satisfactory to it.

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