Budget and Financial Statements Sample Clauses

Budget and Financial Statements. Subject to the requirements of 603 CMR 1.07 and the applicable Memoranda of Understanding, on or before April 1 of each year, UP Education Network, the Principal of each School, and the Director of Operations of each School will jointly develop a projected budget for the School for the next fiscal year, which the Principal or Director of Operations will submit to Finance Committee for review and approval, and UP Education Network with the Finance Committee shall present the proposed budget to the Board of Trustees for its approval and submission to the superintendent of BPS and the Boston school committee, in accordance with the budget schedule of BPS and no later than April 1st of each year. The Board of Trustees shall have exclusive authority to approve the annual budget, or supplements or amendments thereto. The annual budget for UP Academy shall provide for all anticipated sources of revenue and for payment of all operating expenses related to the opening and operation of UP Academy, including, but not limited to payment to UP Education Network of its Service Fee. UP Education Network shall submit invoices and all supporting documentation of expenses to UP Academy. UP Academy shall be the lawful owner, lessee or licensee, as applicable of all real and personal property acquired with UP Academy funds (subject to the intellectual property and other proprietary or property rights of third parties therein). Property covered by Article 8 shall be the sole and exclusive property of UP Education Network, subject to the license to UP Academy described therein; all other intellectual property developed by employees of UP Academy (“UP Academy Intellectual Property”) shall be the sole and exclusive property of UP Academy, subject to a license to UP Education Network during the term of this Agreement. UP Education Network shall have no responsibility to make any purchases on behalf of UP Academy or to act as disbursement agent for UP Academy. UP Education Network agrees to provide all information reasonably deemed necessary by UP Academy for the approval of the budget by the Board of Trustees, and other reasonably requested information. The Director of Operations shall assist UP Education Network with the preparation of monthly financial statements, and reporting to DESE. Such statements shall include whatever information and data as is reasonably necessary to enable the Board of Trustees and UP Education Network to monitor UP Academy’s performance under this and ...
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Budget and Financial Statements. On or before May 1 of each year, ReGeneration will work closely with the School to provide the School with a projected budget for the next fiscal year, for review and approval by the Board of Trustees. The annual budget for the School shall provide for payment of all operating expenses related to the operation or opening of the School, including, but not limited to: reimbursement to ReGeneration of certain expenses including ReGeneration’s Service Fee; compensation for School employees, including salary and benefit costs; debt payments owing and owed to ReGeneration by the School; marketing and public relations costs; supplies; maintenance; staff development; curriculum materials; assessment materials and consulting fees; other third party consulting expenses; transportation and travel; printing and duplicating; postage; legal fees; and accounting fees. With respect to these items, ReGeneration may act as the disbursement agent on behalf of the School to timely pay all such agreed upon budget expenditures out of funds available therefore from the School bank accounts, from which the School shall give ReGeneration authority to remit payments. The School shall be the lawful owner of all real and personal property purchased with such funds, except for property covered by Article 8, which property shall be the sole and exclusive property of ReGeneration, subject to the provisions of Article 8. ReGeneration shall have no responsibility to make any purchases on behalf of the School or to act as disbursement agent for the School unless and until the funds for such expenditures are in the School bank accounts to which ReGeneration has access. The budget shall grant certain levels of discretion to the Principal, within parameters established by the Board of Trustees. ReGeneration, working closely with the Chief Financial Officer and its Treasurer, , shall also:
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Budget and Financial Statements. Subject to the requirements of 603 CMR 1.07 and the Memoranda of Agreement, BPE and the Principal will jointly develop a projected budget for the next fiscal year, which the Principal will submit to the DSNCS Board for review and approval, no later than February 1st of each year. The Board shall have exclusive authority to approve the annual budget or supplements or amendments thereto. The annual budget for DSNCS shall provide for all anticipated sources of revenue and for payment of all operating expenses related to the opening and operation of DSNCS. With support from DSNCS, BPE will prepare quarterly financial statements. Such statements shall include whatever information and data as is reasonably necessary to enable the Board and BPE to monitor DSNCS’s performance under this and related agreements including the effectiveness and efficiency of its operations. Such statements will furnish DSNCS with all information deemed necessary by the school for the proper completion of the budget, financial reports and audits. Such statements will follow generally accepted auditing principles and will comply with XXXX’s prescribed format for charter school reporting. The DSNCS Principal is responsible for completing any and all relevant financial trainings from BPS, and responsible for making sure that appropriate staff attend required trainings and have access to the necessary systems. DSNCS shall be the lawful owner, lessee or licensee, as applicable of all real and personal property acquired with DSNCS funds (subject to the intellectual property and other proprietary or property rights of third parties therein). Property covered by Article 6 shall be the sole and exclusive property of BPE, subject to the license to DSNCS described therein; all other intellectual property developed by employees of DSNCS shall be the sole and exclusive property of DSNCS, subject to a license to BPE during the term of this Agreement. BPE shall have no responsibility to make any purchases on behalf of DSNCS or to act as disbursement agent for DSNCS.
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Budget and Financial Statements i. On or before May 1 of each year, KASC will work closely with the School to provide the School with a projected budget for the next fiscal year, for review and approval by the Board. The annual budget for the School shall provide for payment of all operating expenses related to the operation or opening of the School, including, but not limited to: reimbursement to KASC of certain expenses including KASC’s Service Fee; compensation for the School employees, including salary and benefit costs; any debt payments that are owed to KASC by the School; marketing and public relations costs; supplies; maintenance; staff development; curriculum materials; assessment materials and consulting fees; other third party consulting expenses; transportation and travel; printing and duplicating; postage; legal fees; and accounting fees. With respect to these items, KASC may act as the disbursement agent on behalf of the School to timely pay all such agreed upon budget expenditures out of funds available therefore from the School bank accounts (the “School Accounts”), from which the School shall give KASC authority to remit payments. The School shall be the lawful owner of all real and personal property purchased with such funds. KASC shall have no responsibility to make any purchases on behalf of the School or to act as disbursement agent for the School unless and until the funds for such expenditures are in the School Accounts to which KASC has access.
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Related to Budget and Financial Statements

  • Audits and Financial Statements A. Audits

  • Audited Financial Statements The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations, cash flows and changes in shareholder’s equity for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.

  • Company Financial Statements The financial statements of the Company included in the Company’s Reports (including the related notes, where applicable), which have been provided to the Purchasers (i) have been prepared from, and are in accordance with, the books and records of the Company; (ii) fairly present in all material respects the results of operations, cash flows, changes in stockholders’ equity and financial position of the Company and its consolidated Subsidiaries, for the respective fiscal periods or as of the respective dates therein set forth (subject in the case of unaudited statements to recurring year-end audit adjustments normal in nature and amount), as applicable; (iii) complied as to form, as of their respective dates of filing in all material respects with applicable accounting and banking requirements as applicable, with respect thereto; and (iv) have been prepared in accordance with GAAP consistently applied during the periods involved, except, in each case, as indicated in such statements or in the notes thereto. The books and records of the Company have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements. The Company does not have any material liability of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether due or to become due), except for those liabilities that are reflected or reserved against on the consolidated balance sheet of the Company contained in the Company’s Reports for the Company’s most recently completed quarterly or annual fiscal period, as applicable, and for liabilities incurred in the ordinary course of business consistent with past practice or in connection with this Agreement and the transactions contemplated hereby.

  • Annual Financial Statements Within 90 days after the end of each Fiscal Year, commencing with the Fiscal Year ending December 31, 2011, (i) the consolidated balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year commencing with the first Fiscal Year for which such corresponding figures are available, all in reasonable detail, together with a Financial Officer Certification and a Narrative Report with respect thereto; and (ii) with respect to such consolidated financial statements a report thereon by an independent certified public accountant (or accountants) of recognized national standing selected by Borrower, and reasonably satisfactory to Administrative Agent (which report and/or the accompanying financial statements shall be unqualified as to going concern and scope of audit, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards) together with a written statement by such independent certified public accountants stating (1) that their audit examination has included a review of the terms of Section 6.7 of this Agreement and the related definitions, (2) whether, in connection therewith, any condition or event that constitutes a Default or an Event of Default under Section 6.7 has come to their attention and, if such a condition or event has come to their attention, specifying the nature and period of existence thereof, and (3) that nothing has come to their attention that causes them to believe that the information contained in any Compliance Certificate is not correct or that the matters set forth in such Compliance Certificate are not stated in accordance with the terms hereof (which statement may be limited to the extent required by accounting rules or guidelines);

  • Financial Statements Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:

  • Quarterly Financial Statements As soon as available and in any event within 5 days after the date on which such financial statements are required to be filed with the SEC (after giving effect to any permitted extensions) with respect to each of the first three quarterly accounting periods in each fiscal year of the Borrower (or, if such financial statements are not required to be filed with the SEC, on or before the date that is 45 days after the end of each such quarterly accounting period), the consolidated balance sheets of the Borrower and the Subsidiaries and, if different, the Borrower and the Restricted Subsidiaries, in each case as at the end of such quarterly period and the related consolidated statements of operations for such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and the related consolidated statement of cash flows for such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and setting forth comparative consolidated figures for the related periods in the prior fiscal year or, in the case of such consolidated balance sheet, for the last day of the prior fiscal year (or, in lieu of such unaudited financial statements of the Borrower and the Restricted Subsidiaries, a detailed reconciliation reflecting such financial information for the Borrower and the Restricted Subsidiaries, on the one hand, and the Borrower and the Subsidiaries, on the other hand), all of which shall be certified by an Authorized Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject to changes resulting from audit and normal year end audit adjustments.

  • Annual Statements within 105 days after the end of each fiscal year of the Company, duplicate copies of,

  • Submission of Audits and Financial Statements A. Audits Due the earlier of 30 days after receipt of the independent certified public accountant's report or nine months after the end of the fiscal year, Grantee shall submit electronically one copy of the single audit or program-specific audit to the System Agency via:

  • FINANCIAL STATEMENTS TO OWNER The Agent shall render statements of receipts, expenses, and other charges for the Property as requested by the Owner with no more than one (1) statement per month.

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