Common use of Financial Liability Clause in Contracts

Financial Liability. In accordance with Section 116 of WIOA, CLEOs are liable and responsible for WIOA and other directly administered funds expended under the Act. In the event that any expenditure of funds under WIOA is disallowed by the State of New York or the United States Department of Labor, the following process will be used. A. The Grant Recipient shall make payment to NYSDOL in the amount of the disal- lowance, upon notification by NYSDOL. If the disallowed expenditure of funds cannot be recovered under B or C (below), then repayment of the disallowed funds shall be shared equally by the Counties. B. The Fiscal Agent shall attempt to recover the disallowed expenditure from funds available to sub-grantees or vendors causing the disallowance. C. If the disallowed expenditure of funds cannot be recovered under B (above) but are eligible for recoupment in one of more future years, at the absolute discretion of the CLEOs such disallowed expenditure of funds shall be recouped in one or more future years

Financial Liability. In accordance with Section 116 of WIOA, CLEOs are liable and responsible for WIOA and other directly administered funds expended under the Act. In the event that any expenditure of funds under WIOA is disallowed by the State of New York or the United States Department of Labor, the following process will be used. A. The Grant Recipient shall make payment to NYSDOL in the amount of the disal- lowance, upon notification by NYSDOL. If the disallowed expenditure of funds cannot be recovered under B or C (below), then repayment of the disallowed funds shall be shared equally by the Counties. B. The Fiscal Agent shall attempt to recover the disallowed expenditure from funds available to sub-grantees or vendors causing the disallowance. C. If the disallowed expenditure of funds cannot be recovered under B (above) but are eligible for recoupment in one of more future years, at the absolute discretion of the CLEOs such disallowed expenditure of funds shall be recouped in one or more future years.