Common use of Financial Record Clause in Contracts

Financial Record. Without limitation of the requirement to maintain project accounts in accordance with generally accepted accounting principles, the Grantee must: 1) Establish an official file for the Trade-Up Pilot Project which must adequately document all significant actions relative to the pilot project; 2) Establish separate accounts which will adequately and accurately depict all amounts received and expended on the Trade-Up Pilot Project; 3) Establish separate accounts which will adequately and accurately depict all income received that is attributable to the Trade-Up Pilot Project; and 4) Establish an accounting system that will adequately depict final total costs of the Trade-Up Pilot Project, including both direct and indirect costs.

Financial Record. Without limitation of the requirement to maintain project accounts in accordance with generally accepted accounting principles, the Grantee must: 1) a. Establish an official file for the Trade-Up Pilot Project which must adequately document all significant actions relative to the pilot project; 2) b. Establish separate accounts which will adequately and accurately depict all amounts received and expended on the Trade-Up Pilot Project; 3) c. Establish separate accounts which will adequately and accurately depict all income received that which is attributable to the Trade-Up Pilot Project; and 4) d. Establish an accounting system that which will adequately depict final total costs of the Trade-Up Pilot Project, including both direct and indirect costs.