Controls and Report Clause Samples
The "Controls and Report" clause establishes requirements for implementing and maintaining specific controls, as well as for providing regular reports on their effectiveness. Typically, this clause obligates a party—often a service provider or contractor—to put in place security, operational, or compliance controls and to periodically furnish reports or certifications demonstrating adherence to these controls. For example, it may require annual audit reports or summaries of internal control assessments. The core function of this clause is to ensure transparency and accountability, enabling the other party to monitor compliance and manage associated risks effectively.
Controls and Report. The Chief Investment Officer shall establish a system of internal controls and written operational procedures to prevent losses arising from fraud, employee error, misrepresentation by third parties, or imprudent employee action. The Chief Investment Officer shall provide a quarterly investment report to the Board. The report will: (1) assess whether the investment portfolio is meeting the District's investment objectives, (2) identify each security by class or type, book value, income earned, and market value, (3) identify those institutions providing investment services to the District, and (4) include any other relevant information. The investment portfolio's performance shall be measured by appropriate and creditable industry standards for the investment type. The Board will determine, after receiving the Superintendent's recommendation, which fund is in most need of interest income and the Superintendent shall execute a transfer. This provision does not apply when the use of interest earned on a particular fund is restricted.
Controls and Report. The Chief Investment Officer shall establish a system of internal controls and written operational procedures to prevent losses arising from fraud, employee error, misrepresentation by third parties, or imprudent employee action. The Chief Investment Officer shall provide a quarterly investment report to the Board. The report will:
Controls and Report. The Chief Investment Officer shall establish a system of internal controls and written operational procedures to prevent losses arising from fraud, employee error, misrepresentation bythird parties, or imprudent employee action. The Chief Investment Officer shall provide a quarterlyinvestment report to the Board. The report will: (1) assess whether the investment portfolio is meeting the District's investment objectives, (2) identifyeach securitybyclass or type, book value, income earned, and market value, (3) identifythose institutions providing investment services to the District, and (4) include anyother relevant information. The investment portfolio's performance shall be measured byappropriate and creditable industrystandards for the investment type. The Board of Education will determine, after receiving the Chief Financial Officer's recommendation, which fund is in most need of interest income and the Chief Financial Officer shall execute a transfer. This provision does not applywhen the use of interest earned on a particular fund is restricted.
Controls and Report. The CACC Business Manager shall establish a system of internal controls and written operational procedures to prevent losses arising from fraud, employee error, misrepresentation by third parties, or imprudent employee action. The CACC Business Manager shall provide a quarterly investment report to the Board. The report will:
Controls and Report. The Chief Investment Officer shall establish a system of internal controls and written operational procedures to prevent losses arising from fraud, employee error, misrepresentation bythird parties, or imprudent employee action. The Chief Investment Officer shall provide a monthlyinvestment report to the Board. The report will: (1) assess whether the investment portfolio is meeting the District's investment objectives, (2) identifyeach securitybyclass or type, book value, income earned, and market value, (3) identifythose institutions providing investment services to the District, and (4) include anyother relevant information. The investment portfolio's performance shall be measured by appropriate and creditable industrystandards for the investment type.
Controls and Report. The Chief Investment Officer shall establish a system of internal controls and written operational procedures to prevent losses arising from fraud, employee error, misrepresentation bythird parties, or imprudent employee action. The Chief Investment Officer shall provide a quarterlyinvestment report to the Board. The report will: (1) assess whether the investment portfolio is meeting the Association's investment objectives, (2) identifyeach securitybyclass or type, book value, income earned, and market value, (3) identify those institutions providing investment services to the Association, and (4) include anyother relevant information. The investment portfolio's performance shall be measured by appropriate and creditable industrystandards for the investment type. The Board will determine, after receiving the Director's recommendation, which fund is in most need of interest income and the Director shall execute a transfer. This provision does not applywhen the use of interest earned on a particular fund is restricted. Ethics and Conflicts of Interest The Board and Association officials will avoid anyinvestment transaction or practice that in appearance or fact might impair public confidence. Board members are bound bythe Board policy 2:100, Board Member Conflict of Interest. No Association employee having influence on the Association's investment decisions shall: