Common use of Financial Accounting Clause in Contracts

Financial Accounting. 1. The Non-Profit shall establish and maintain fiscal and accounting records in accordance with generally accepted accounting principles and practices. 2. The Non-Profit shall not commingle accounts to an extent that prevents the accounting and auditing of the funds provided hereunder: Provided, however, the Non-Profit may supplement the funds provided hereunder from other fund sources. 3. Funds provided hereunder are exclusively for the purposes of this Agreement under the terms and conditions of the Agreement, and the Non- Profit shall not temporarily or permanently shift such funds to other programs or for other purposes for any reason.