Financial Management of Consortium Sample Clauses

Financial Management of Consortium. Pooled membership funding is used to support operational and research needs of the Consortium. Annual membership dues are established as follows, depending on annual assessment : • Corporate Member $500 - 1,000 • Academic Institutional Member $500 • Non-governmental Organization Member $500 NMSU has an interest in ensuring that faculty participants in the Consortium obtain recognition from their Deans and Department Heads for Consortium-related research, public service and/or instructional activities. Consequently, each Core project proposal awarded by the Consortium – and any resulting award or applicable rejection is subject to normal University procedures for processing that submission. The annual period for paying membership is based on calendar (January 1 – December 31), and is the same for each Member. The Program Director is responsible to ensure the timely payment of membership dues, as authorization to undertake work within the Consortium is dependent on their collection. Each Member must pay its dues annually as a lump sum. The Annual membership dues and pooled sponsorship funding will be deposited in a pooled (termed “public service”) account at NMSU. This prime account is used as a “holding” account for membership dues and sponsorship funds. Membership dues and pooled sponsorship funds are then utilized to fund research projects, the Consortium’s administrative budget, and future encumbrances (e.g., planned procurement of large-scale instrumentation for the benefit of membership projects, etc.). A clear breakdown of how membership dues is allocated will be provided annually.
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Financial Management of Consortium. Pooled membership funding is used to support operational and research needs of the NM- PWRC. Annual membership dues are established as follows: • Corporate Member $1,000 • Academic Institutional Member $500 • Non-governmental Organization Member $500 The annual period for paying membership is based on calendar (January 1 – December 31), and is the same for each Member. The NM-PWRC Program Director is responsible to ensure the timely payment of membership dues, as authorization to undertake work within the NM-PWRC is dependent on their collection. Each Member must pay its dues annually as a lump sum. The NM-PWRC Program Director has sole discretion to waive annual membership fee based on the dual participation as a Member and a Sponsor. Annual membership dues and pooled sponsorship funding must be deposited in a pooled (termed “public service”) account at NMSU. This prime account is used as a “holding” account for membership dues and sponsorship funds. Membership dues and pooled sponsorship are then utilized to fund research projects, the NM-PWRC’s administrative budget, and future encumbrances (e.g., planned procurement of large-scale instrumentation for the benefit of membership projects, etc.). A clear breakdown of how membership dues is allocated should be noted in the minutes of each annual NM-PWRC Council meeting.
Sample 1

Related to Financial Management of Consortium

  • 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.

  • 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:

  • 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:

  • FINANCIAL MANAGEMENT AND OVERSIGHT Measure 2a Is the school meeting financial reporting and compliance requirements?

  • Financial Monitoring City staff shall monitor, review, and evaluate the financial procedures of the Subrecipient through documents submitted to the City and on-site monitoring. The Subrecipient shall provide and make available to the City such reports and records that will be necessary for a proper financial evaluation. With reasonable notice being given to the Subrecipient, the City may schedule at least one on-site visit and other visits that may be needed during the course of this Agreement.

  • Financial Management Standards The financial management systems of Grantee must meet the following standards:

  • Financial Management Services ‌ Definition: Financial Management Services includes the planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. Examples: Service areas that are included under the Financial Management Services discipline include, but are not limited to the following:

  • Asset Management Supplier will: i) maintain an asset inventory of all media and equipment where Accenture Data is stored. Access to such media and equipment will be restricted to authorized Personnel; ii) classify Accenture Data so that it is properly identified and access to it is appropriately restricted; iii) maintain an acceptable use policy with restrictions on printing Accenture Data and procedures for appropriately disposing of printed materials that contain Accenture Data when such data is no longer needed under the Agreement; iv) maintain an appropriate approval process whereby Supplier’s approval is required prior to its Personnel storing Accenture Data on portable devices, remotely accessing Accenture Data, or processing such data outside of Supplier facilities. If remote access is approved, Personnel will use multi-factor authentication, which may include the use of smart cards with certificates, One Time Password (OTP) tokens, and biometrics.

  • 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, 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.

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