Common use of Financial Management System Clause in Contracts

Financial Management System. The Provider Agency's financial management system shall provide for the following: (a) accurate, current and complete disclosure of the financial results of this Contract and any other contract, grant, program or other activity administered by the Provider Agency; (b) records adequately identifying the source and application of all Provider Agency funds and all funds administered by the Provider Agency. These records shall contain information pertaining to all contract and grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays and income; (c) effective internal control structure over all funds, property and other assets. The Provider Agency shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes; (d) comparison of actual outlays with budgeted amounts for this Contract and for any other contract, grant, program or other activity administered by the Provider Agency; (e) accounting records supported by source documentation; (f) procedures to minimize elapsed time between any advance payment issued and the disbursement of such advance funds by the Provider Agency; and (g) procedures consistent with the provisions of any applicable Department policies and procedures for determining the reasonableness, allowability and allocability of costs under this Contract.

Financial Management System. The Provider Agency's financial management system shall provide for the following: (a) accuratea. Accurate, current and complete disclosure of the financial results of this Contract and any other contract, grant, program or other activity administered by the Provider Agency; (b) records b. Records adequately identifying the source and application of all Provider Agency funds and all funds administered by the Provider Agency. These records shall contain information pertaining to all contract and grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays and income; (c) effective c. Effective internal control structure over all funds, property property, and other assets. The Provider Agency shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes; (d) comparison d. Comparison of actual outlays with budgeted amounts for this Contract and for any other contract, grant, program or other activity administered by the Provider Agency; (e) accounting e. Accounting records supported by source documentation; (f) procedures f. Procedures to minimize elapsed time between any advance payment issued and the disbursement of such advance funds by the Provider Agency; and (g) procedures g. Procedures consistent with the provisions of any applicable Department Departmental policies and procedures for determining the reasonableness, allowability allowability, and allocability of costs under this Contract.

Financial Management System. The Provider AgencyContractor's financial management system shall provide for the following: (a) accurateAccurate, current and complete disclosure of the financial results of this Contract and any other contract, grant, program or other activity administered by the Provider AgencyContractor; (b) records Records adequately identifying the source and application of all Provider Agency Contractor funds and all funds administered by the Provider AgencyContractor. These records shall contain information pertaining to all contract and grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays and income; (c) effective Effective internal control structure and accounting controls over all funds, property and other assets. The Provider Agency Contractor shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes; (d) comparison Comparison of actual outlays with budgeted amounts for this Contract and for any other contract, grant, program or other activity administered by the Provider AgencyContractor; (e) accounting Accounting records supported by source documentation; (f) procedures Procedures to minimize elapsed time between any advance payment issued and the disbursement of such advance funds by the Provider Agency; Contractor, and (g) procedures Procedures consistent with the provisions of any applicable Department Commission policies and procedures for determining the reasonableness, allowability and allocability of costs under this Contract.

Financial Management System. The Provider Agency's financial management system shall provide for the following: (a) accurateAccurate, current and complete disclosure of the financial results of this Contract and any other contract, grant, program or other activity administered by the Provider Agency; (b) records Records adequately identifying the source and application of all Provider Agency funds and all funds administered by the Provider Agency. These records shall contain information pertaining to all contract and grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays and income; (c) effective Effective internal control structure over all funds, property property, and other assets. The Provider Agency shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes; (d) comparison Comparison of actual outlays with budgeted amounts for this Contract and for any other contract, grant, program or other activity administered by the Provider Agency; (e) accounting Accounting records supported by source documentation; (f) procedures Procedures to minimize elapsed time between any advance payment issued and the disbursement of such advance funds by the Provider Agency; and (g) procedures Procedures consistent with the provisions of any applicable Department Departmental policies and procedures for determining the reasonableness, allowability allowability, and allocability of costs under this Contract.

Financial Management System. The Provider Agency's ’s financial management system shall provide for the following: (a) accurate, current and complete disclosure of the financial results of this Contract and any other contract, grant, program or other activity administered by the Provider Agency; (b) records adequately identifying the source and application of all Provider Agency funds and all funds administered by the Provider Agency. These records shall contain information pertaining to all contract and grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays and income; (c) effective internal control structure over all funds, property and other assets. The Provider Agency shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes; (d) comparison of actual outlays with budgeted amounts for this Contract and for any other contract, grant, program or other activity administered by the Provider Agency; (e) accounting records supported by source documentation; (f) procedures to minimize elapsed time between any advance payment issued and the disbursement of such advance funds by the Provider Agency; and (g) procedures consistent with the provisions of any applicable Department policies and procedures for determining the reasonableness, allowability and allocability of costs under this Contract.

Financial Management System. The Provider Agency's financial management system shall provide for the following: (a) accuratea. Accurate, current current, and complete disclosure of the financial results of this Contract and any other contract, grant, program program, or other activity administered by the Provider Agency; (b) records b. Records adequately identifying the source and application of all Provider Agency funds and all funds administered by the Provider Agency. These records shall contain information pertaining to all contract and grant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays and income; (c) effective c. Effective internal control structure over all funds, property property, and other assets. The Provider Agency shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes; (d) comparison d. Comparison of actual outlays with budgeted amounts for this Contract and for any other contract, grant, program program, or other activity administered by the Provider Agency; (e) accounting e. Accounting records supported by source documentation; (f) procedures f. Procedures to minimize elapsed time between any advance payment issued and the disbursement of such advance funds by the Provider Agency; and (g) procedures g. Procedures consistent with the provisions of any applicable Department Departmental policies and procedures for determining the reasonableness, allowability allowability, and allocability of costs under this Contract.