Budget and Expenditure Control Sample Clauses

Budget and Expenditure Control. The budget is an important tool, which helps an organization in allocating and utilizing the available resources in an efficient and effective way. The budget available for the implementation of the ESAp2 grant project is indicated in the grant agreement. SAIPs are required to monitor the utilization of the grant budget on a regular basis and report the use to the MA in timely fashion, as contractually agreed. The following issues must be addressed by the SAIP: Budget Code:As soon as the final budget is approved, the SAIP must set up a budget code for each of the budget lines. Then, the report generated from the accounting software, if any, should be based on these codes. Permissible Variation/Flexibility Rate: Once the grant agreement is signed by the SAIP and MA, the annexed contracted budget needs to be used as a basis for the financial activities and reporting. Thus, the expenditures incurred for the project shall be in accordance with the approved budget. The permissible variation rate is indicated in the grant agreement. The SAIP must obtain prior approval for the over-utilization of above this rate or for reallocation of budget.
Sample 1
AutoNDA by SimpleDocs

Related to Budget and Expenditure Control

  • Budget Impact The rental fee provided for in the agreement is for One Hundred Seventy dollars ($170.00) per month. This is a total annual airport revenue of $2,040.00.

  • Quarterly Financial Reports The School shall prepare and submit quarterly financial reports to the Commission within 45 days of the end of each fiscal year quarter.

  • Diverse Spend Reporting If the total value of the Contract may exceed $500,000, including all extension options, Contractor must track and report, on a quarterly basis, the amount paid to diverse businesses both: 1) directly to subcontractors performing under the Contract, and 2) indirectly to diverse businesses that provide supplies/services to your company (in proportion to the revenue from this Contract compared to Contractor’s overall revenue). When this applies, Contractor will register in a free portal to help report the Tier 2 diverse spend, and the requirement continues as long as the Contract is in effect.

  • Budget and Cost Consultation 5.4.1 Contractor is responsible for the construction budget and for preparing and updating all procurement and Estimated Construction Costs and distributing them to the Project Team throughout the duration of the Project.

  • Financial Management; Financial Reports; Audits 1. The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions.

  • Financial Reports Borrower shall furnish to Agent the financial statements and reports listed hereinafter (the “Financial Statements”):

  • Financial Report The Company shall furnish to the Administrative Agent (for delivery to each of the Lenders):

  • Financial Management, Financial Reports and Audits 1. The Recipient shall maintain or cause to be maintained a financial management system in accordance with the provisions of Section 4.09 of the General Conditions.

  • Progress Reporting 5. The IP will submit to UNICEF narrative progress reports against the planned activities contained in the Programme Document, using the PDPR. Unless otherwise agreed between the Parties in writing, these reports will be submitted at the end of every Quarter. The final report will be submitted no later than thirty (30) calendar days after the end the Programme and will be provided together with the FACE form.

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.