Delegated Financial Limits Sample Clauses

Delegated Financial Limits. 1.1 Financial delegations are to be proportionate to the financial planning and risk within each year. They will be set annually by the Department.
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Delegated Financial Limits. All delegations are subject to the requirement that spending proposals falling within Managing Public Money Annex should be referred to DCMS. These are: • Items which are novel, contentious or repercussive, even if within delegated limits; • Items which could exceed the agreed budget and Estimate limits; • Contractual commitments to significant spending in future years for which plans have not been set; • Items requiring primary legislation (e.g. to write off NLF debt or PDC); • Any item which could set a potentially expensive precedent; • where Treasury consent is a specific requirement of legislation. Unlimited (unless otherwise specified) 5.1. Capital Expenditure • Expenditure on new construction, land, extensions of, and alterations to, existing buildings and the purchase of any other fixed assets (e.g. machinery, plant, and vehicles), art works and additions to the collection with an expected working life of more than one year. Also includes exchanges of fixed assets. o £11million. • Expenditure on the signing of new leases, renewals of existing leases, the non-exercise of lease break options, any new property acquisitions (including those made through a Public Finance Initiative Provider), new build developments, sale and leaseback, and any freehold sales as part of national property controls o £100k. Approval for leases over £100,000 can only be given by the Chief Secretary to the Treasury and must provide value for money for Government as a whole or demonstrate exceptional circumstances.
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Delegated Financial Limits. All delegations are subject to the requirement that spending proposals falling within Managing Public Money Annex 2.2, box A.2.2C should be referred to DCMS. These are: ● Items which are novel, contentious or repercussive, even if within delegated limits ● Items which could exceed the agreed budget and Estimate limits ● Contractual commitments to significant spending in future years for which plans have not been set ● Items requiring primary legislation (e.g. to write off NLF debt or PDC) ● Any item which could set a potentially expensive precedent ● Where Treasury consent is a specific requirement of legislation. Unlimited (unless otherwise specified)
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Delegated Financial Limits. The scope of this section is primarily the operational and corporate expenditure by the Fund. Grants issued with Lottery and Xxxxxxx Accounts money are subject to various statutory controls including di rections, while non-Lottery grants distributed on behalf of third parties are subject to controls in the individual grant agreement negotiated for each programme. Delegated financial limits in this section will therefore not normally apply to expenditure through the Fund's grant distribution functions, except where specified below. All delegations (including grant distribution fu nctions) are subject to the overarching
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Related to Delegated Financial Limits

  • Audits and Financial Statements A. Audits

  • 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);

  • Annual Financial Audit The School will annually obtain a financial audit, from a licensed Certified Public Accountant or Auditor, selected pursuant to section 218.391, Florida Statutes. The audit will be performed in accordance with Generally Accepted Auditing Standards; Governing Standards and the Rules of the Auditor General for the State of Florida. The School will provide a copy of its annual financial audit (including any School responses to audit findings) to the Sponsor no later than September 30. The Sponsor reserves the right to perform additional audits and investigations at its expense as part of the Sponsor's financial monitoring responsibilities as it deems necessary to ensure fiscal accountability and sound financial management.

  • 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.

  • Financial Matters 9.1. The School shall maintain accurate and comprehensive financial records, operate in accordance with Generally Accepted Accounting Principles, and use public funds in a fiscally responsible manner.

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