Common use of FINANCIAL MANAGEMENT AND REPORTING SYSTEM Clause in Contracts

FINANCIAL MANAGEMENT AND REPORTING SYSTEM. The President of the University, acting through the Senior Vice President of Administration and Finance or his designee, shall continue to be authorized by the board to maintain existing policies and implement new policies governing the management of University financial resources. These policies shall continue to (i) ensure compliance with generally accepted accounting principles; (ii) ensure consistency with the current accounting principles employed by the Commonwealth, including the use of fund

FINANCIAL MANAGEMENT AND REPORTING SYSTEM. The President of the University, acting through the Senior Vice President of for Administration and Finance or his designee, shall continue to be authorized by the board to maintain existing policies and implement new policies governing the management of University financial resources. These policies shall continue to (i) ensure compliance with generally accepted accounting principles; (ii) ensure consistency with the current accounting principles employed by the Commonwealth, including the use of fundfund accounting principles, with regard to the establishment of the underlying accounting records of the