Common use of Financial Management of School Clause in Contracts

Financial Management of School. 1. The Governing Board shall be responsible for the operation and fiscal management of the School. The fiscal management of the School shall be conducted in a manner consistent with the provisions of the Application. 2. The School shall adhere to any additional applicable financial requirements mandated by State or Federal laws and regulations. 3. Notwithstanding anything else herein to the contrary, the Sponsor shall not i. Guarantee payment for any purchases made by the School; ii. Guarantee payment for any debts incurred by the School; iii. Guarantee payment for any loans taken out by the School. iv. Lend its good faith and credit in order for the School to obtain a loan or other forms of credit. The School shall not suggest or represent to third parties, including, but not limited to, lenders, vendors, creditors, other business entities or their representatives, governmental entities, or other individuals anything to the contrary of the immediately preceding sentences. 4. The School agrees to provide to the District, upon request, proof of sufficient funds or a letter of credit to assure prompt payment of operating expenses associated with the School, including but not limited to, the amount of any lease payments, teacher and other staff salaries and benefits, transportation cost, etc. The parties stipulate that provision of a financially feasible, adopted budget, shall be sufficient for meeting this requirement.

Financial Management of School. 1. The Governing Board shall be responsible for the operation and fiscal management of the School. The fiscal management of the School shall be conducted in a manner consistent with the provisions of the Application. 2. The School shall adhere to any additional applicable financial requirements mandated by the State or and/or Federal laws and regulations. 3. Notwithstanding anything else herein to the contrary, the Sponsor shall not i. Guarantee payment for any purchases made by the School; ii. Guarantee payment for any debts incurred by the School; iii. Guarantee payment for any loans taken out by the School. iv. Lend its good faith and credit in order for the School to obtain a loan or other forms of credit. The School shall not suggest or represent to third parties, including, but not limited to, lenders, vendors, creditors, other business entities or their representatives, governmental entities, or other individuals anything to the contrary of the immediately preceding sentences. 4. The School agrees to provide to the District, upon request, proof of sufficient funds or a letter of credit to assure prompt payment of operating expenses associated with the School, including but not limited to, the amount of any lease payments, teacher and other staff salaries and benefits, transportation cost, etc. The parties stipulate that provision of a financially feasible, adopted budget, shall be sufficient for meeting this requirement.

Financial Management of School. 1. The Governing Board shall be responsible for the operation and fiscal management of the School. The fiscal management of the School shall be conducted in a manner consistent with the provisions of the Application. 2. The School shall adhere to any additional applicable financial requirements mandated by State or Federal laws and regulations. 3. Notwithstanding anything else herein to the contrary, the Sponsor shall not i. Guarantee payment for any purchases made by the School; ii. Guarantee payment for any debts incurred by the School; iii. Guarantee payment for any loans taken out by the School. iv. Lend its good faith and credit in order for the School to obtain a loan or other forms of credit. The School shall not suggest or represent to third parties, including, but not limited to, lenders, vendors, creditors, other business entities or their representatives, governmental entities, or other individuals anything to the contrary of the immediately preceding sentences. 4. The School agrees to provide to the District, upon request, proof of sufficient funds or a letter of credit to assure prompt payment of operating expenses associated with the School, including but not limited to, the amount of any lease payments, teacher and other staff salaries and benefits, transportation cost, etc. The parties stipulate that provision of a financially feasible, adopted budget, shall be sufficient for meeting this requirement.

Financial Management of School. 1. The Governing Board shall be responsible for the operation and fiscal management of the School. The fiscal management of the School shall be conducted in a manner consistent with the provisions of the Application. 2. The School shall adhere to any additional applicable financial requirements mandated by State or Federal laws and regulations. 3. Notwithstanding anything else herein to the contrary, the Sponsor shall not i. Guarantee payment for any purchases made by the School; ii. Guarantee payment for any debts incurred by the School; iii. Guarantee payment for any loans taken out by the School. iv. Lend its good faith and credit in order for the School to obtain a loan or other forms of credit. The School shall not suggest or represent to third parties, including, but not limited to, lenders, vendors, creditors, other business entities or their representatives, governmental entities, or other individuals anything to the contrary of the immediately preceding sentences. 4. The School agrees to provide to the District, upon request, proof of sufficient funds or a letter of credit to assure prompt payment of operating expenses associated with the School, including but not limited to, the amount of any lease payments, teacher and other staff salaries and benefits, transportation cost, etc. The parties stipulate that provision of a financially feasible, adopted budget, shall be sufficient for Odyssey Preparatory Academy Standard Charter School Contract meeting this requirement.

Financial Management of School. ‌ 1. The Governing Board shall be responsible for the operation and fiscal management of the School. The fiscal management of the School shall be conducted in a manner consistent with the provisions of the Application.Application.‌ 2. The School shall adhere to any additional applicable financial requirements mandated by State or Federal laws and regulations.regulations.‌ 3. Notwithstanding anything else herein to the contrary, the Sponsor shall notnot‌ i. Guarantee payment for any purchases made by the School; ii. Guarantee payment for any debts incurred by the School; iii. Guarantee payment for any loans taken out by the School. iv. Lend its good faith and credit in order for the School to obtain a loan or other forms of credit. The School shall not suggest or represent to third parties, including, but not limited to, lenders, vendors, creditors, other business entities or their representatives, governmental entities, or other individuals anything to the contrary of the immediately preceding sentences. 4. The School agrees to provide to the District, upon request, proof of sufficient funds or a letter of credit to assure prompt payment of operating expenses associated with the School, including but not limited to, the amount of any lease payments, teacher and other staff salaries and benefits, transportation cost, etc. The parties stipulate that provision of a financially feasible, adopted budget, shall be sufficient for meeting this requirement.

Financial Management of School. 1. The Governing Board shall be responsible for the operation and fiscal management of the School. The fiscal management of the School shall be conducted in a manner consistent with the provisions of the Application. 2. The School shall adhere to any additional applicable financial requirements mandated by State or Federal laws and regulations. 3. Notwithstanding anything else herein to the contrary, the Sponsor shall not i. Guarantee payment for any purchases made by the School; ii. Guarantee payment for any debts incurred by the School; iii. Guarantee payment for any loans taken out by the School.; iv. Lend its good faith and credit in order for the School to obtain a loan or other forms of credit. The School shall not suggest or represent to third parties, including, but not limited to, lenders, vendors, creditors, other business entities or their representatives, governmental entities, or other individuals anything to the contrary of the immediately preceding sentences. 4. The School agrees to provide to the District, upon request, proof of sufficient funds or a letter of credit to assure prompt payment of operating expenses associated with the School, including but not limited to, the amount of any lease payments, teacher and other staff salaries and benefits, transportation cost, etc. The parties stipulate that provision of a financially feasible, adopted budget, shall be sufficient for meeting this requirement.