Financial Oversight Clause Samples

Financial Oversight. Subject to the confidentiality provisions contained in Clause 22.4, CEPI, or its designee, will have on-site access to Awardee’s Financial Records [***], at such times as CEPI may request, provided CEPI has given not less than [***] notice, in order that CEPI may monitor Awardee’s expenditure of Project funds. CEPI or its designee will have such on-site access to Awardee’s Financial Records more than [***] in the following circumstances: i. where CEPI has reasonable grounds indicating that the Awardee is in material breach of this Agreement or has misapplied CEPI Funding; and ii. where required in the context of an audit of CEPI by one or more of its funders.

Financial Oversight. ‌ The Commission shall have the authority to conduct or require appropriate inquiries, financial reviews, audits, and investigations pursuant to HRS §302D-17, so long as those activities are consistent with that statute and adhere to the terms of this Charter Contract. The School shall, upon request, provide the Commission with the name of each financial institution with which it holds an account and all relevant account information.

Financial Oversight. During the pe- riod of affordability, the grantee must examine regularly (at least annually) the financial condition of HTF-assisted rental projects with 10 or more HTF-as- sisted units to determine the continued financial viability of the housing and must take actions to correct problems. [80 FR 5220, Jan. 30, 2015, as amended at 81 FR 80805, Nov. 16, 2016]

Financial Oversight. Monitors the preparation and content of the financial statements of the Company and its subsidiaries and oversees the tracking and use of the Company's assets.

Financial Oversight. Sellers, B▇▇▇▇▇ and D▇▇▇▇▇▇▇ agree and covenant that from and after the First Tranche Closing Date: (1) Sellers, B▇▇▇▇▇ and D▇▇▇▇▇▇▇ shall install reasonable internal financial controls to prevent material violations of internal financial policies and procedures (e.g. writing of unauthorized checks, entry into unauthorized purchase orders, posting unauthorized journal entries, or payment of unauthorized expenses); (2) Sellers, B▇▇▇▇▇ and D▇▇▇▇▇▇▇ shall cause Sellers to retain an independent certified public accountant (the "CPA") who will be tasked with reviewing Sellers' quarterly and annual financial results and balance sheets, and with preparing Sellers' tax returns and other tax forms, all in accordance with generally accepted US accounting principles; (3) WJacobs shall be granted full access to the corporate and financial books and records of Sellers, shall monitor and shall be allowed to ask Sellers' internal financial personnel and the CPA questions from time to time regarding Sellers' financial results, balance sheets, transactions, expenses, financial controls, tax returns and other tax forms, and shall be provided accurate and complete answers to such questions including supporting documentation, and shall be copied on all communications between Sellers and the CPA; and (4) Sellers shall pay WJacobs a quarterly fee in connection with the foregoing in an amount which shall be mutually acceptable to B▇▇▇▇▇ and WJacobs, but which in no event shall be less than $5,000 per quarter, and Sellers shall pay or reimburse all of WJacobs' reasonable expenses incurred in connection with business trips to Bend, Oregon, to perform such financial oversight functions and to provide consulting/advisory services to Sellers relating thereto.

Financial Oversight. ● Oversee the Company’s financial performance, including managing cash flow, profitability, and cost control to ensure that the Company meets or exceeds revenue and profit targets. ● Make decisions regarding capital expenditures, investments, acquisitions, or divestitures, ensuring the most effective use of capital for long-term growth. ■ Governance & Compliance ● Ensure the Company complies with all applicable regulatory requirements, including SEC reporting and corporate governance standards, and meet other regulatory obligations. ● Collaborate closely with the Board of Directors to ensure best practices in corporate governance and maintain effective oversight of the Company’s activities. ■ Investor Relations ● Serve as the key liaison between the Company and investors, analysts, and the Board of Directors, providing regular updates on financial performance, strategic initiatives, and long-term plans.

Financial Oversight. Contractor and A/E invoices will be Quality Controlled to ensure they are correct and within budget before being processed on a Request for Reimbursement (RFR). All budget mods will be prepared by the Project Manager.

Financial Oversight. The HCC Chief Financial Officer shall report to the President and Chief Executive Officer of HCC or his designee, with the Chief Financial Officer of Heritage providing audit oversight. HCC’s annual financial reports will be independently audited.

Financial Oversight a. The Grantee shall establish financial oversight practices and process for assuring appropriate use of funds per AB 101, and shall spend all funds towards approved purposes no later than December 31, 2023. b. The Grantee shall establish and maintain an accounting system conforming to Generally Accepted Accounting Principles (GAAP) to support Invoices which segregate and accumulate the costs of work elements by line item which clearly identify reimbursable costs and other expenditures by Overall Work Program (OWP) elements or project codes. c. The Grantee agrees to include all costs associated with this MOU and any amendments thereto to be examined in any annual audit and in the schedule of activities to be examined under a single audit prepared in compliance with Office of Management and Budget Circular A-133. d. The Grantee agrees to furnish documentation to AMBAG to support this requirement that any agreement with a Subgrantee(s) contain provisions requiring adherence to this section in its entirety. e. The Grantee’s use of funding shall be subject to the oversight by AMBAG and the Central Coast Housing Working Group. f. AMBAG shall monitor costs and performance of the Grantee and Subgrantee and take steps as necessary to ensure that the funds are spent towards eligible costs on time and on budget. g. Grantee shall require any and all Subgrantee(s) to be subject to the provisions in this Section 4 on Financial Oversight.