Common use of AUDITING OF TRUST ACCOUNTS Clause in Contracts

AUDITING OF TRUST ACCOUNTS. CONTRACTOR shall develop and update as necessary, with the approval of the Department, administrative procedures to ensure proper accounting and internal control of the receipts and expenditures of the funds from the POIIWTF (Commissary Account) and Inmate Bank Fund. CONTRACTOR shall review such procedures yearly to ensure procedures remain current and timely. Documentation of this review and any recommendations for change shall be submitted to the On-site Contract Monitor yearly. CONTRACTOR shall have an independent audit of the Inmate Bank Fund and POIIWTF (Commissary) fund, conducted on an annual (fiscal year) and cash basis, and the entire results of the audit shall be submitted to the Department by October 1st.

AUDITING OF TRUST ACCOUNTS. CONTRACTOR shall develop and update as necessary, with the approval of the Department, administrative procedures to ensure proper accounting and internal control of the receipts and expenditures of the funds from the POIIWTF (Commissary Account) and Inmate Bank Fund. CONTRACTOR shall review such procedures yearly to ensure procedures remain current and timely. Documentation of this review and any recommendations for change shall be submitted to the On-site Contract Monitor yearly. CONTRACTOR shall have an independent audit of the Inmate Bank Fund and POIIWTF (Commissary) fund, conducted on an annual basis (fiscal year) and cash basis), pursuant to GAAP, and the entire results of the audit shall will be submitted to the Department by October 1st1. 3. The Contract, Section 5.49. is amended to read:

AUDITING OF TRUST ACCOUNTS. CONTRACTOR shall develop and update as necessary, with the approval of the Department, administrative procedures to ensure proper accounting and internal control of the receipts and expenditures of the funds from the POIIWTF (Commissary Account) and Inmate Bank Fund. CONTRACTOR shall review such procedures yearly to ensure procedures remain current and timely. Documentation of this review and any recommendations for change shall be submitted to the On-site Contract Monitor yearly. CONTRACTOR shall have an independent audit of the Inmate Bank Fund and POIIWTF (Commissary) fund, conducted on an annual (fiscal year) and cash basis, and the entire results of the audit shall be submitted to the Department by October 1st1.