Common use of Financial Management System Clause in Contracts

Financial Management System. Contractor 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: i. Information pertaining to tuition rates, payments, and educational assistance payments; and ii. Source documentation to support accounting records; and iii. Proper charging of costs and cost allocation.

Financial Management System. Contractor 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: i. Information pertaining to tuition rates, payments, and educational assistance payments; and; ii. Source documentation to support accounting records; and iii. Proper charging of costs and cost allocation.

Financial Management System. Contractor 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: i. Information pertaining to tuition rates, payments, and educational assistance payments; andpayments in accordance with the line items identified in Attachment C of this Contract; ii. Source documentation to support accounting records; and iii. Proper charging of costs and cost allocation.