Audited Cost Certification Clause Samples
The Audited Cost Certification clause requires that costs incurred under a contract be verified and certified through an independent audit process. Typically, this involves the contractor submitting detailed cost records, which are then reviewed by an external auditor to confirm their accuracy and compliance with contractual terms. This clause ensures that only legitimate, substantiated expenses are reimbursed, thereby preventing overpayment and promoting financial transparency between the parties.
Audited Cost Certification. An Audited Cost Certification prepared by a public accountant is required for Approved Projects where such certification is prepared at Developer's expense to comply with the requirements of other funding sources, including projects receiving tax credits.
Audited Cost Certification. An Audited Cost Certification prepared by a public accountant is required for Approved Projects where such certification is prepared at Developer's expense to comply with the requirements of other funding sources, including projects receiving tax credits.
4) Final Semi-Annual Labor Standards Report as described in Exhibit D(30)(A)(3) herein.
5) Evidence, satisfactory to the Department, of compliance with any other Special Conditions of this Agreement; and,
6) A resolution from the governing body acknowledging the accomplishments of the Approved Project and confirming that the Approved Project is complete and that all Financial Reports have been processed and reimbursed. Upon receipt of the above documentation, the Department will close the NTP and finalize the activity in DRGR for final reporting to HUD.
Audited Cost Certification. An executed contract with a public accountant to perform an Audited Cost Certification for Approved Projects where such certification is prepared at Developer's expense to comply with the requirements of other funding sources, including projects receiving tax credits. Upon completion of the Audited Cost Certification, it must be submitted to the Department within 120 business days of recorded Notice of Completion.