Common use of Financial Disclosures Clause in Contracts

Financial Disclosures. If Contractor receives $10,000 or more, but less than $75,000 combined, in federal, state, or City funds annually, Contractor shall deliver to City within ninety (90) calendar days after the end of the year copies of true, accurate, and complete financial reports and disclosure documents evidencing, to City’s reasonable satisfaction, Contractor’s financial status. City may extend the deadline by up thirty (30) calendar days upon Contractor’s written request. Contractor shall submit at least the following: 10.3.1 a statement of expenditures of City funds by program, to be identified in the same expenditure classifications as contained in the City funded final budget and approved through the application process and compared with the budgeted amounts; and 10.3.2 a statement of revenues and expenditures, and a statement of financial position of all funds received by Contractor.

Financial Disclosures. If Contractor receives $10,000 or more, but less than $75,000 combined, in federal, state, or City funds annually, Contractor shall deliver to City within ninety (90) calendar days after the end of the year copies of true, accurate, and complete financial reports and disclosure documents evidencing, to City’s reasonable satisfaction, Contractor’s financial status. City may extend the deadline by up thirty (30) calendar days upon Contractor’s written request. Contractor shall submit at least the following: 10.3.1 11.2.1. a statement of expenditures of City funds by program, to be identified in the same expenditure classifications as contained in the City funded final budget and approved through the application process and compared with the budgeted amounts; and 10.3.2 11.2.2. a statement of revenues and expenditures, and a statement of financial position of all funds received by Contractor.