Common use of Financial Disclosures Clause in Contracts

Financial Disclosures. Contractors receiving $10,000 or more, but less than $75,000, in federal, state, and/or City funds shall provide the City copies of true, accurate, and complete financial disclosure documentation, evidencing the financial status of Contractor’s last complete fiscal year. Specifically, Contractor shall submit the following: a) a statement of expenditure of City funds by program, to be identified in the same expenditure classifications as contained in the final budget and compared with the budgeted amounts; and b) a statement of revenues and expenditures, and a balance sheet of all funds received by Contractor. Contractor shall provide the City these documents within ninety calendar days of the end of Contractor’s last complete fiscal year. Extensions of up to thirty calendar days to this deadline to produce these documents may be granted by the City, upon written request by Contractor.

Financial Disclosures. Contractors receiving $10,000 or more, but less than $75,000, in federal, state, and/or City funds shall provide the City copies of true, accurate, and complete financial disclosure documentation, evidencing the financial status of Contractor’s last complete fiscal year. Specifically, Contractor shall submit the following: a) a. a statement of expenditure of City funds by program, to be identified in the same expenditure classifications as contained in the final budget and compared with the budgeted amounts; and b) b. a statement of revenues and expenditures, and a balance sheet of all funds received by Contractor. Contractor shall provide the City these documents within ninety calendar days of the end of Contractor’s last complete fiscal year. Extensions of up to thirty calendar days to this deadline to produce these documents may be granted by the City, upon written request by Contractor.