Financial Record Keeping; Yearly Reporting; Audit Right Sample Clauses

Financial Record Keeping; Yearly Reporting; Audit Right. Institution will keep, in accordance with generally accepted accounting principles, any books, records, and other documents as may be reasonably necessary to fully account for the amount and disposition of the Funding, the costs incurred to perform the Study, and the source of all funds expended towards the costs of the Study (“Financial Records”). All Financial Records shall be maintained at the offices of Institution and Institution shall make Financial Records available to Foundation or its duly authorized representative for inspection, copying, audit and examination during normal business hours. All Financial Records shall be maintained until three (3) years after discharge of all duties owed to Foundation or longer if required by Institution's document retention policies. If any audit report reflects major deficiencies in Institution's internal control systems with respect to the Funding, Institution may impose more stringent prior approval requirements for certain types of expenditures and/or re- budgeting and may require detailed supporting documentation until it is satisfied that necessary corrective action has been, or will be, taken.
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Related to Financial Record Keeping; Yearly Reporting; Audit Right

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  • Financial Reporting Requirements The Charter School shall follow the financial requirements of the Charter Schools Section of the Department’s Financial Management for Georgia Local Units of Administration Manual. The Charter School shall submit all information required by the State Accounting Office for inclusion in the State of Georgia Comprehensive Annual Financial Report.

  • FINANCIAL STATUS REPORTS (FSRS Except as otherwise provided, for contracts with categorical budgets, Grantee shall submit quarterly FSRs to System Agency by the last business day of the month following the end of each quarter for System Agency review and financial assessment. Grantee shall submit the final FSR no later than forty-five (45) calendar days following the end of the applicable term.

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