Common use of Financial Controls Clause in Contracts

Financial Controls. At all times, the School shall maintain appropriate governance, managerial procedures, and financial controls, which shall include, but not be limited to: (1) commonly accepted accounting practices and the capacity to implement them; (2) adequate payroll procedures; (3) procedures for the creation and review of monthly and quarterly financial reports;

Financial Controls. At all times, the School shall maintain appropriate governance, managerial procedures, and financial controls, which shall include, but not be limited to: (1) commonly accepted accounting practices and the capacity to implement them; (2) adequate payroll procedures; (3) procedures for the creation and review of monthly and quarterly financial reports;commonly