Common use of Financial Accountability Clause in Contracts

Financial Accountability. Contractor agrees to provide fiscal procedures adequate to assure accounting for the disbursement of funds paid to Contractor under this Contract in accordance with accounting policies and procedures as may be prescribed by Administrator or County Auditor- Controller, or as required by the 2 CFR Part 225, “Cost Principles for State, Local and Indian Tribal Governments (formerly OMB Circular A-87) incorporated herein by reference. All claimed reimbursements must be supported with source documents determined by Administrator’s fiscal staff to be necessary for processing and payment of Contractor’s invoices, and shall include but not limited to, timesheets, invoices, cancelled checks, receipts and receiving records. a. Contractor agrees to reimburse County for expenditures Administrator determines to be in violation of the terms and conditions of this Contract.

Financial Accountability. Contractor agrees to provide fiscal procedures adequate to assure accounting for the disbursement of funds paid to Contractor under this Contract in accordance with accounting policies and procedures as may be prescribed by Administrator or County Auditor- Auditor-Controller, or as required by the 2 CFR Part 225, “Cost Principles for State, Local and Indian Tribal Governments (formerly OMB Circular A-87) incorporated herein by reference. All claimed reimbursements must be supported with source documents determined by Administrator’s fiscal staff to be necessary for processing and payment of Contractor’s invoices, and shall include but not limited to, timesheets, invoices, cancelled checks, receipts and receiving records. a. Contractor agrees to reimburse County for expenditures Administrator determines to be in violation of the terms and conditions of this Contract.