Financial Management and Financial Records Sample Clauses

Financial Management and Financial Records. The Academy’s annual budget will be prepared in compliance with all statutes and rules of the State of Idaho including requirements for a public hearing and delivery to the State Department of Education. Copies of the Budget will be provided to the Commission upon Board approval and delivery to the State Department of Education. All Accounting records will be established and maintained in accordance with accounting principles generally accepted in the United States. In addition, the Academy will follow all requirements and regulations as may be set forth from time to time by the State Board of Education and State Department of Education. The Academy operates through funding provided by the State of Idaho and the Federal government. The Academy will continue to seek out private grants and donations to supplement the school’s funding. All k12 invoices of the Academy are independently reviewed by a Board member prior to submission to the Board for approval. A separate Board motion is made to address K12 invoices, separate and apart from any other invoices to the school. A detailed report as to the financial status of the Academy and its Budget, including a detailed cash distribution report, is provided at each monthly regular meeting of the Board.
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Related to Financial Management and Financial Records

  • 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.

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following:

  • 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 (a) The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.09 of the Standard Conditions.

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  • Fiscal Management Grantee must have accounting and internal control systems to ensure proper management of federal and state funds, maximize non-federal resources, and maintain solvency. Xxxxxxx’s accounting and internal control systems must meet the following requirements:

  • New Financial Services Each Party shall permit a financial institution of the other Party to supply any new financial service that the first Party would permit its own financial institutions, in like circumstances, to supply without additional legislative action by the first Party. Notwithstanding Article 10.4(b), a Party may determine the institutional and juridical form through which the new financial service may be supplied and may require authorization for the supply of the service. Where a Party requires such authorization of the new financial service, a decision shall be made within a reasonable time and the authorization may only be refused for prudential reasons.10-3

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