Financial Audit Provisions Sample Clauses

Financial Audit Provisions. The Tribe agrees to provide CDSS with a copy of their Single Audit report required by the federal government (Title 25 Code of Federal Regulations (CFR) Part 1000.394) on an annual basis. Financial records and relative case documentation and support for all costs claimed in accordance with this Agreement shall be retained for a period of not less than three years. Any records that are pertinent to a criminal or civil litigation or to open audits must be retained beyond three years until such litigation or audits are completely resolved/closed. For the purpose of audit, examination, excerpts and transcription, the State shall have access to any of the records which are directly pertinent to this Agreement.  The Annual Single Audit report for the Tribe is due to CDSS ninety (90) days after the Tribe's submission of this report to the federal government per 31 United States Code, Subchapter V, Chapter 75, Section 7502 to ensure compliance with the State's federal data collection and reporting requirements at 45 CFR Part 1355.40(a)(2)(3).  The Tribe will be responsible for the federal share of costs of any audit exception(s), deferral(s), or disallowance(s) of funds previously reimbursed to the Tribe resulting from an audit of the Tribal CWS Program for administrative and/or assistance costs claimed during the time period in question. The Tribe will also be responsible for the state share of costs of any audit exception(s), deferral(s), or disallowance(s) of funds previously reimbursed to the Tribe for administrative and/or assistance costs claimed during the time period in question, if applicable.  For any sustained audit exception(s), deferral(s), or disallowance(s), the CDSS will recoup the federal share of costs (and state share, if applicable) previously reimbursed to the Tribe from payments owed to the Tribe including but not limited to advance payments. Agreement #06-6019 CDSS/The Karuk Tribe Updated July 2010 FISCAL ADDENDUM EXAMPLE: The Tribe is issued a monthly advance payment of $100,000. Based on a federal audit, it was determined that a total of $20,000 of federal funds previously reimbursed to the Tribe was deemed unallowable resulting in a disallowance. Therefore, the subsequent $100,000 monthly advance will redirect $20,000 to repay the federal government and the remaining $80,000 will go to the Tribe.  For any sustained audit exception(s), deferral(s), or disallowance(s), if there are insufficient costs for CDSS to offset against, the CDSS...
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Financial Audit Provisions 
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Related to Financial Audit Provisions

  • Audit Provisions The Commonwealth shall have the right, at reasonable times and at a site designated by the Commonwealth, to audit the books, documents, and records of the Parties to the extent that the books, documents, and records relate to the Parties’ compliance with the provisions set forth in subsection (b) above or to the Small Diverse Business or Small Business Commitment effectuated through this Subcontract. The Parties shall preserve such books, documents, and records for a period of three years from the date of final payment hereunder. The Parties shall give full and free access to all such records to the Commonwealth and/or its authorized representatives.

  • Audit Provision The (Service Provider or Contractor) shall be subject to an audit and shall, upon request, make available to the Public Building Commission or a contract auditor hired by the Public Service Commission, copies of all financial and performance related records and materials related to this Agreement, as allowed by law.

  • Financial Audit The School shall submit audited financial statements from an independent auditor to the Authorizer no later than November 1 of each year.

  • 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.

  • Final Audit Report Contractor shall promptly submit to the State a copy of any final audit report of an audit performed on Contractor’s records that relates to or affects this Contract or the Work, whether the audit is conducted by Contractor or a third party.

  • RECORDS AND AUDIT PROVISIONS 6.1 ON-SITE AND OFF-SITE REVIEWS/AUDITS

  • Records and Financial Audit The Contractor shall maintain detailed time and expenditure records that indicate the date; time, nature and cost of services rendered during the Agreement’s term and effect and retain them for a period of three (3) years from the date of final payment under this Agreement. The records shall be subject to inspection by the Agency, the Department of Finance and Administration and the State Auditor. The Agency shall have the right to audit xxxxxxxx both before and after payment. Payment under this Agreement shall not foreclose the right of the Agency to recover excessive or illegal payments

  • Accounting Matters Unless otherwise stated, all accounting terms used in this Agreement shall have the meanings attributable thereto under IFRS and all determinations of an accounting nature required to be made hereunder shall be made in a manner consistent with IFRS.

  • Financial Management, Financial Reports and Audits 1. The Recipient shall maintain or cause to be maintained a financial management system in accordance with the provisions of Section 4.09 of the General Conditions.

  • Financial Management; Financial Reports; Audits 1. The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions.

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