Common use of Financial Management System Clause in Contracts

Financial Management System. The Contractor shall establish and maintain a financial management system that: A. Provides accurate, current, and complete disclosure of all financial transactions relating to the contract; B. Maintains separate accounts by source of funds for all revenues and expenditures and identifies the source and application of funds for the Contractor's performance under this contract, including information pertaining to subcontracts, obligations, unobligated balances, assets, liabilities, outlays and income; C. Effectively controls and accounts for all municipal funds and contract property; D. Compares actual expenditures with budgeted amounts and relates financial information to performance or productivity data including unit cost information where applicable; E. Allocates administrative costs to direct service delivery units; F. Minimizes the time between receipt of funds from Anchorage and their disbursement by the Contractor; G. Provides accounting records supported by source documentation; and H. Provides a systematic method assuring the timely and appropriate resolution of audit findings and recommendations.

Financial Management System. The Contractor shall establish and maintain a financial management system that: A. Provides accurate, current, and complete disclosure of all financial transactions relating to the contractContract; B. Maintains separate accounts by source of funds for all revenues and expenditures and identifies the source and application of funds for the Contractor's performance under this contractContract, including information pertaining to subcontracts, obligations, unobligated balances, assets, liabilities, outlays and income; C. Effectively controls and accounts for all municipal funds and contract Contract property; D. Compares actual expenditures with budgeted amounts and relates financial information to performance or productivity data including unit cost information where applicable; E. Allocates administrative costs to direct service delivery units; F. Minimizes the time between receipt of funds from Anchorage Billings and their disbursement by the Contractor; G. Provides accounting records supported by source documentation; and H. Provides a systematic method assuring the timely and appropriate resolution of audit findings and recommendations.

Financial Management System. The Contractor Engineer shall establish and maintain a financial management system that: A. Provides accurate, current, and complete disclosure of all financial transactions relating to the contractContract; B. Maintains separate accounts by source of funds for all revenues and expenditures and identifies the source and application of funds for the ContractorEngineer's performance under this contractContract, including information pertaining to subcontracts, obligations, unobligated balances, assets, liabilities, outlays and income; C. Effectively controls and accounts for all municipal funds and contract Contract property; D. Compares actual expenditures with budgeted amounts and relates financial information to performance or productivity data including unit cost information where applicable; E. Allocates administrative costs to direct service delivery units; F. Minimizes the time between receipt of funds from Anchorage Billings and their disbursement by the ContractorEngineer; G. Provides accounting records supported by source documentation; and H. Provides a systematic method assuring the timely and appropriate resolution of audit findings and recommendations.

Financial Management System. The Contractor shall will establish and maintain a financial management system that: A. Provides accurate, current, and complete disclosure of all financial transactions relating to the contractthis Contract; B. Maintains separate accounts by source of funds for all revenues and expenditures and identifies the source and application of funds for the Contractor's performance under this contractContract, including information pertaining to subcontracts, obligations, unobligated balances, assets, liabilities, outlays and income; C. Effectively controls and accounts for all municipal funds and contract property; D. Compares actual expenditures with budgeted amounts and relates financial information to performance or productivity data including unit cost information where applicable; E. Allocates administrative costs to direct service delivery units; F. Minimizes the time between receipt of funds from Anchorage the MOA and their disbursement by the Contractor; G. Provides accounting records supported by source documentation; and H. Provides a systematic method assuring the timely and appropriate resolution of audit findings and recommendations.

Financial Management System. The Contractor shall establish and maintain a financial management system that: A. Provides accurate, current, and complete disclosure of all financial transactions relating to the contractContract; B. Maintains separate accounts by source of funds for all revenues and expenditures and identifies the source and application of funds for the Contractor's performance under this contractContract, including information pertaining to subcontracts, obligations, unobligated balances, assets, liabilities, outlays and income; C. Effectively controls and accounts for all municipal funds and contract Contract property; D. Compares actual expenditures with budgeted amounts and relates financial information to performance or productivity data including unit cost information where applicable; E. Allocates administrative costs to direct service delivery units; F. Minimizes the time between receipt of funds from Anchorage and their disbursement by the Contractor; G. Provides accounting records supported by source documentation; and H. Provides a systematic method assuring the timely and appropriate resolution of audit findings and recommendations.