Common use of Cost Justification Financial Statements Clause in Contracts

Cost Justification Financial Statements. Education Law ss.305(14) requires the Contractor to substantiate any cost increases that he/she claims to justify annual payment increases during the term of this Extension and Eleventh Amendment Agreement. The Director shall determine whether to approve all or any portion(s) of the claims in each of the Contractor's annual Cost Justification Financial Statements in accordance with the following: (a) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2000 to June 30, 2001, the Contractor must submit by September 30, 2000, (i) a cost justification financial statement that details total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1999-2000 and for 1998-1999, and (ii) an additional Cost Justifica- tion Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1996-97, 1997-98 and 1998-99 to account for unabsorbed cost carry-forwards, if any. (b) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2001 to June 30, 2002, the Contractor must submit by September 30, 2001, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2000-2001 and 1999-2000, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1997-98, 1998-99 and 1999-2000 to account for unabsorbed cost carry-forwards, if any. (c) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2002 to June 30, 2003, the Contractor must submit by September 30, 2002, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, for the Extension Years 2001-2002 and 2000-2001, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1998-99, 1999-2000 and 2000-01 to account for unabsorbed cost carry-forwards, if any. (d) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2003 to June 30, 2004, the Contractor must submit by September 30, 2003, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2002-2003 and 2001-2002, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1999-2000, 2000-01 and 2001-02 to account for unabsorbed cost carry-forwards, if any. (e) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2004 to June 30, 2005, the Contractor must submit by September 30, 2004, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2003-2004 and 2002-2003, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 2000-01, 2001-02 and 2002-03 to account for unabsorbed cost carry-forwards, if any. (f) In each annual Cost Justification Financial Statement, the Contractor must treat costs for escorts separately from all other costs. The Contractor shall supply in each annual Cost Justification Financial Statement all data required by SED related to this Contract, and the submittal shall include, but shall not limited to, SED-approved cost justification forms. The Contractor must supply promptly all additional cost data as required by the BOE or SED. (g) Until six (6) years after completion of its services hereunder or six(6) years after the termination date of this Extension and Amendment Agreement, whichever shall occur later, the Contractor shall maintain complete and correct books and records related to all aspects of the Contractor's obligations hereunder. Records must be maintained separately, so as to identify clearly the expenses applicable to this Contract, all previous extension and amendment agreements, and this Extension and Amendment Agreement and must be distinguishable from all other costs not incurred under this Contract, all previous extension and amendment agreements, and this Extension and Amendment

Cost Justification Financial Statements. Education Law ss.305(14§305(14) requires the Contractor to substantiate any cost increases that he/she claims to justify annual payment increases during the term of this Extension and Eleventh Amendment Agreement. The Director shall determine whether to approve all or any portion(s) of the claims in each of the Contractor's ’s annual Cost Justification Financial Statements in accordance with the following: (a) To substantiate any payment increases received under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2000 to June 30, 2001, the Contractor must submit by September 30, 2000, (i) a cost justification financial statement that details total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1999-2000 and for 1998-1999, and (ii) an additional Cost Justifica- tion Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1996-97, 1997-98 and 1998-99 to account for unabsorbed cost carry-forwards, if any. (b) To substantiate any payment increases received under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2001 to June 30, 2002, the Contractor must submit by September 30, 2001, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2000-2001 and 1999-2000, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1997-98, 1998-99 and 1999-2000 to account for unabsorbed cost carry-forwards, if any. (c) To substantiate any payment increases received under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2002 to June 30, 2003, the Contractor must submit by September 30, 2002, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, for the Extension Years 2001-2002 and 2000-2001, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1998-99, 1999-2000 and 2000-01 to account for unabsorbed cost carry-forwards, if any. (d) To substantiate any payment increases received under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2003 to June 30, 2004, the Contractor must submit by September 30, 2003, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2002-2003 and 2001-2002, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1999-2000, 2000-01 and 2001-02 to account for unabsorbed cost carry-forwards, if any. (e) To substantiate any payment increases received under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2004 to June 30, 2005, the Contractor must submit by September 30, 2004, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2003-2004 and 2002-2003, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 2000-01, 2001-02 and 2002-03 to account for unabsorbed cost carry-forwards, if any. (f) In each annual Cost Justification Financial Statement, the Contractor must treat costs for escorts separately from all other costs. The Contractor shall supply in each annual Cost Justification Financial Statement all data required by SED related to this Contract, and the submittal shall include, but shall not limited to, SED-approved cost justification forms. The Contractor must supply promptly all additional cost data as required by the BOE or SED. (g) Until six (6) years after completion of its services hereunder or six(6six (6) years after the termination date of this Extension and Amendment Agreement, whichever shall occur later, the Contractor shall maintain complete and correct books and records related to all aspects of the Contractor's ’s obligations hereunder. Records must be maintained separately, so as to identify clearly the expenses applicable to this Contract, all previous extension and amendment agreements, and this Extension and Amendment Agreement and must be distinguishable from all other costs not incurred under this Contract, all previous extension and amendment agreements, and this Extension and AmendmentAmendment Agreement. Except as provided in this subparagraph, all other provisions of this Contract, as amended, that relate to the maintenance of records shall remain in full force and effect.

Cost Justification Financial Statements. Education Law ss.305(14§305(14) requires the Contractor to substantiate any cost increases that he/she claims to justify annual payment increases during the term of this Extension and Eleventh Thirteenth Amendment Agreement. The Director shall determine whether to approve all or any portion(s) of the claims in each of the Contractor's ’s annual Cost Justification Financial Statements in accordance with the following:: 10 Such a CPA-audited Cost Justification Financial Statement must comply in all respects with AR 9100.63 entitled, “Special Purpose Financial Presentations to Comply with Contractual or Regulatory Provisions,” as established and periodically updated by the AICPA. (a) To substantiate any payment increases received increases11 under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2000 2005 to June 30, 20012006, the Contractor must submit by September 30, 2000, (i) a cost justification financial statement that details total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1999-2000 and for 1998-1999, and (ii) an additional Cost Justifica- tion Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1996-97, 1997-98 and 1998-99 to account for unabsorbed cost carry-forwards, if any. (b) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2001 to June 30, 2002, the Contractor must submit by September 30, 20012005, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2000-2001 and 1999-2000, and (iiStatement(s) an additional Cost Justification Financial Statement that details the total costs detailing Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 19972004-982005 and 2003-2004, 1998-99 and 1999-2000 to account (ii) a distinct Cost Justification Financial Statement(s) detailing Total Allowable Costs incurred by the Contractor for unabsorbed cost carry-forwardsall its operations and, if anyseparately, for its operations under the Contract for each Extension Year for which application shall be made for any Unabsorbed Percentage Cost Increases. (cb) To substantiate any payment increases received under ARTICLE V-–A or 28(C) during the Extension Year of July 1, 2002 2006 to June 30, 20032007, the Contractor must submit by September 30, 20022006, (i) a Cost Justification Financial Statement that details Statement(s) detailing the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, for the Extension Years 2001-2002 and 2000-2001, and (ii) an additional Cost Justification Financial Statement that details the total costs Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 19982005-992006 and 2004-2005, 1999-2000 and 2000-01 to account for unabsorbed cost carry-forwards, if any. (d) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2003 to June 30, 2004, the Contractor must submit by September 30, 2003, (iii) a distinct Cost Justification Financial Statement that details Statement(s) detailing the total costs Total Allowable Costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for each Extension Year for which application shall be made for any Unabsorbed Percentage Cost Increases. (c) To substantiate any payment increases under ARTICLE V–A or 28(C) during the Extension Years 2002-2003 and 2001-2002Year of July 1, and 2007 to June 30, 2008, the Contractor must submit by September 30, 2007, (iii) an additional a Cost Justification Financial Statement that details Statement(s) detailing the total costs Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 19992006-20002007 and 2005-2006, 2000-01 and 2001-02 to account for unabsorbed cost carry-forwards, if any. (e) To substantiate any payment increases received under ARTICLE V-A or 28(C) during the Extension Year of July 1, 2004 to June 30, 2005, the Contractor must submit by September 30, 2004, (iii) a distinct Cost Justification Financial Statement that details Statement(s) detailing the total costs Total Allowable Costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for each Extension Year for which application shall be made for any Unabsorbed Percentage Cost Increases. (d) To substantiate any payment increases under ARTICLE V–A or 28(C) during the Extension Years 2003-2004 and 2002-2003Year of July 1, and 2008 to June 30, 2009, the Contractor must submit by September 30, 2008, (iii) an additional a Cost Justification Financial Statement that details Statement(s) detailing the total costs Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 20002007-012008 and 2006-2007, 2001and (ii) a distinct Cost Justification Financial Statement(s) detailing the Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for each Extension Year for which application shall be made for any Unabsorbed Percentage Cost Increases. (e) To substantiate any payment increases under ARTICLE V–A or 28(C) during the Extension Year of July 1, 2009 to June 30, 2010, the Contractor must submit by September 30, 11 The Fixed Percentage Increase provided hereunder, including either the five-02 and-sixty-six-hundredths percent (5.66%) increase for contracts under Serial Nos. 0070, 8108, G8805, G8891 and 2002G9325 or the three-03 and-seventy-four-hundredths percent (3.74%) increase for contracts under Serial No. 7165, shall not be subject to account any requirement for unabsorbed cost carryjustification under this Extension and Thirteenth Amendment Agreement. Cf. ARTICLE V-forwardsA or ARTICLE 28(C), if anysupra, and ARTICLE XIX, Paragraph (B)(2)(a)(i), infra. 2009, (i) a Cost Justification Financial Statement(s) detailing the Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 2008-2009 and 2007-2008, and (ii) a distinct Cost Justification Financial Statement(s) detailing the Total Allowable Costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for each Extension Year for which application shall be made for any Unabsorbed Percentage Cost Increases. (f) In each annual Cost Justification Financial Statement, the Contractor must treat exclude all costs for escorts separately from all other costsescorts. The Contractor shall supply in each annual Cost Justification Financial Statement all data required by SED related to this Contract, and the submittal shall include, but shall not limited to, SED-approved cost justification forms. The Contractor must supply promptly all additional cost data as required by the BOE or SED. (g) Until six (6) years after completion of its services hereunder or six(6six (6) years after the termination date of this Extension and Amendment Agreement, whichever shall occur later, the Contractor shall maintain complete and correct books and records related to all aspects of the Contractor's ’s obligations hereunder. Records must be maintained separately, so as to identify clearly the expenses applicable to this Contract, all previous extension and amendment agreements, and this Extension and Amendment Agreement and must be distinguishable from all other costs not incurred under this Contract, all previous extension and amendment agreements, and this Extension and AmendmentAmendment Agreement. Except as provided in this subparagraph, all other provisions of this Contract, as amended, that relate to the maintenance of records shall remain in full force and effect.

Cost Justification Financial Statements. Education Law ss.305(14) requires the Contractor to substantiate any cost increases that he/she claims to justify annual payment increases during the term of this Extension and Eleventh Ninth Amendment Agreement. The Director shall determine whether to approve all or any portion(s) portion of the claims in each of the Contractor's annual Cost Justification Financial Statements in accordance with the following: (a) To substantiate any payment increases received under ARTICLE ARTICLES V-A A, 28(C) or 28(C29(D) during the Extension Year of July 1, 2000 to June 30, 2001, the Contractor must submit by September 30, 2000, (i) a cost justification financial statement Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1999-2000 and for 1998-1999, and (ii) an additional Cost Justifica- tion Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1996-97, 1997-98 and 1998-99 to account for unabsorbed cost carry-forwards, if any. (b) To substantiate any payment increases received under ARTICLE ARTICLES V-A A, 28(C) or 28(C29(D) during the Extension Year of July 1, 2001 to June 30, 2002, the Contractor must submit by September 30, 2001, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2000-2001 01 and 1999-2000, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this the Contract for Extension Years 1997-98, 1998-99 and 1999-2000 to account for unabsorbed cost carry-forwards, if any. (c) To substantiate any payment increases received under ARTICLE ARTICLES V-A A, 28(C) or 28(C29(D) during the Extension Year of July 1, 2002 to June 30, 2003, the Contractor must submit by September 30, 2002, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, Contract for the Extension Years 2001-2002 02 and 2000-200101, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this the Contract for Extension Years 1998-99, 1999-2000 and 2000-01 to account for unabsorbed cost carry-forwards, if any. (d) To substantiate any payment increases received under ARTICLE ARTICLES V-A A, 28(C) or 28(C29(D) during the Extension Year of July 1, 2003 to June 30, 2004, the Contractor must submit by September 30, 2003, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2002-2003 and 2001-2002, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for the Extension Years 2002-03 and 2001-02, and (ii) an additional Cost Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1999-2000, 2000-01 and 2001-02 to account for unabsorbed cost carry-forwards, if any. (e) To substantiate any payment increases received under ARTICLE ARTICLES V-A A, 28(C) or 28(C29(D) during the Extension Year of July 1, 2004 to June 30, 2005, the Contractor must submit by September 30, 2004, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 2003-2004 and 2002-2003, and (ii) an additional Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for the Extension Years 2003-04 and 2002-03, and (ii) an additional Cost Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 2000-01, 2001-02 and 2002-03 to account for unabsorbed cost carry-forwards, if any. (f) In each annual Cost Justification Financial Statement, the Contractor must treat costs for escorts separately from all other costs. The Contractor shall supply in each annual Cost Justification Financial Statement all data required by SED related to this Contract, and the submittal shall include, but shall not limited to, SED-approved cost justification forms. The Contractor must supply promptly all additional cost data as required by the BOE or SED. (g) Until six (6) years after completion of its services hereunder or six(6six (6) years after the termination date of this Extension and Amendment Agreement, whichever shall occur later, the Contractor shall maintain complete and correct books and records related to all aspects of the Contractor's obligations hereunder. Records must be maintained separately, separately so as to identify clearly the expenses applicable to this Contract, all previous extension and amendment agreements, and this Extension and Amendment Agreement and must be distinguishable from all other costs not incurred under this Contract, all previous extension and amendment agreements, and this Extension and Amendmentto