Financial Records and Annual Audit Sample Clauses

Financial Records and Annual Audit. The school agrees to establish, maintain and retain appropriate financial records in accordance with all applicable federal, state and District laws, rules and regulations and procedures.
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Financial Records and Annual Audit. Liberty Common agrees to establish and maintain a system of internal controls and processes over budgeting, accounting, and financial reporting in accordance with the Colorado Department of Education Financial Policies and Procedures Handbook and Chart of Accounts. Liberty Common shall establish an appropriate year-end close process to meet the School District’s year-end-closing schedule and reporting deadlines. At the expense of Liberty Common, a certified public accountant must conduct an annual, independent audit of Liberty Common’s financial practices and reports. The audit firm must be approved by the School District, which approval shall not be unreasonably delayed, conditioned or denied. For good cause stated in writing to Liberty Common, the School District may require Liberty Common to use the same audit firm as the School District. If Liberty Common wishes to conduct an additional independent audit by a different auditor of its choice or to obtain additional services or reports from the auditor approved by the School District, the cost of such additional audit, services or reports shall be borne by Liberty Common. Liberty Common must provide, in the timeline established by the School District, a detailed reporting of financial activities to facilitate the School District’s submission of a comprehensive file to the Finance December data pipeline. The data must be reconciled by Liberty Common, to the final year-end trial balance and the audited financial statements prior to final submission to the School District.
Sample 1
Financial Records and Annual Audit. Financial statements are to be submitted to the School District according to the reporting schedule as specified below in Section
Sample 1
Financial Records and Annual Audit. Financial statements are to be submitted to the School District not less than quarterly. LCS agrees to establish, maintain, and retain appropriate financial records in accordance with all applicable federal, state, and local laws, rules, and regulations, and make such records available to the School District as requested from time to time; provided that, for those services that the School District agrees to perform under this Contract, the School District will maintain and make available such records. LCS agrees to cooperate in an independent, outside audit by a certified public accountant of its financial and administrative operations on an annual basis. The LCS audit shall be performed by independent auditors with experience in conducting School District and/or charter school audits and shall be coordinated with the audit of the School District itself. LCS agrees to provide all relevant information to the auditors by September 1 of each year and to cooperate in finalizing the School District's audit on or before October 31. The results of the audit shall be provided to the School District in written form within the same statutory time limits required of the School District and shall be published and posted as required by law. Any cost to the School District associated with the audit of LCS shall be added to the amount designated on Exhibit C for purchased Business Services. If LCS contracts separately for its audit, it shall negotiate and pay the cost of its audit directly. In the event LCS fails to provide the financial information to the School District in the form and on the dates provided for in this Contract or as otherwise required by the state or federal government, the School District may withhold up to ten percent (10%) of any payment then due the school until such time as LCS complies with the financial reporting requirements.
Sample 1
Financial Records and Annual Audit. Horizons agrees to establish, maintain, and retain appropriate financial records in accordance with all applicable federal, state, and local laws, rules, and regulations, and make such records available to the School District, as requested, from time to time; provided that, for those services that the School District agrees to perform under this Contract, the School District will maintain and make available such records. Horizons shall similarly make the records (except the personnel files) of any of its supporting I.R.C. § 501(c)(3) organizations available to the School District upon request. Horizons agrees to cooperate in an independent, outside audit by a certified public accountant of its and, if required by the School District, its supporting organizations' financial and administrative operations on an annual basis. The Horizons audit shall be performed by the School District’s independent auditors in conjunction with the audit of the School District itself. The results of the audit shall be provided to the School District in written form within the same statutory time limits required of the School District and shall be published and posted as required by law. Any cost associated with the audit of Horizons (but not of its supporting organizations) is included in amount designated on Exhibit B for central administrative overhead costs.
Sample 1
Financial Records and Annual Audit. TCA agrees to establish, maintain, and retain appropriate financial records in accordance with all applicable federal, state, and local laws, rules, and regulations, and make such records available to the School District, as requested, from time to time; provided that, for those services that the School District agrees to perform under this Contract, the School District will maintain and make available such records. TCA agrees to cooperate in an independent, outside audit by a certified public accountant of its financial and administrative operations on an annual basis. The TCA audit shall be performed by an independent auditor selected by TCA using TCA’s procurement process, and approved by the district, in conjunction with the audit of the School District itself. The results of the audit, including the auditor’s management letter, notice of findings or questioned costs, or any other written communications between TCA and the independent auditor shall be provided to the School District by TCA in written form within the same statutory time limits required of the School District and shall be published and posted as required by law. Any cost associated with the audit of TCA shall be borne by TCA. TCA further agrees to participate in the District’s annual financial audit, beginning with the 2001-2002 fiscal year and subsequent years only as required by state statute and Colorado Department of Education regulations. 7.3.1. TCA agrees to follow the Colorado Uniform Chart of Accounts (the “Red Book”), the Governmental Accounting Standards Board (the “GASB”) and state statutory requirements for all accounting and reporting functions. The District agrees to provide ongoing Red Book training as needed for TCA personnel at no cost to TCA. 7.3.2. XXX agrees to submit the following reports to the District: 1st Interim Report – December 31 year-to-date data (unaudited), due February 1st 2nd Interim Report – June 30 year-to-date data (unaudited), due July 15th Preliminary ADE Data Report – September 14th These reports will be provided in an Excel spreadsheet using the required Colorado Department of Education Automated Data Exchange format (Exhibit E). In addition, the electronic files will be accompanied by trial balances for each fund maintained by TCA and will include a balance sheet and an operating statement. The operating statement will include all major program categories used in TCA’s chart of accounts. All three reports must be prepared using the modified accru...
Sample 1
Financial Records and Annual Audit. The Charter School agrees to establish, maintain, and retain appropriate financial records in accordance with all applicable federal, state, and District laws, rules, and regulations and procedures.
Sample 1
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Related to Financial Records and Annual Audit

  • Financial Records 26.1.1 CONTRACTOR shall prepare and maintain accurate and complete financial records. Financial records shall be retained by CONTRACTOR for a minimum of five (5) years from the date of final payment under this Contract, or until all pending COUNTY, State, and federal audits are completed, whichever is later. 26.1.2 CONTRACTOR shall establish and maintain reasonable accounting, internal control, and financial reporting standards in conformity with generally accepted accounting principles established by the American Institute of Certified Public Accountants and to the satisfaction of ADMINISTRATOR.

  • Records; Audit Purchaser will, and will cause its Affiliates to, keep and maintain for [***] years after the relevant calendar quarter complete and accurate books and records in sufficient detail so that Net Sales and payments made hereunder can be properly calculated. No more frequently than once during each calendar year during the Term and once during the [***] year period thereafter, Purchaser will permit independent third-party auditors appointed by Spectrum or Bayer (the party requesting an audit, the “Auditing Party”) and with at least [***] days advance notice at any time during normal business hours, accompanied at all times, to inspect, audit and copy reasonable amounts of relevant accounts and records of Purchaser and its Affiliates and reports submitted to Purchaser and its Affiliates pertaining to a Payment Period that is not earlier than [***] months from the date of conclusion of the audit, for the sole purpose of verifying the accuracy of the calculation of payments to Spectrum pursuant to this Article 4. The accounts, records and reports related to any particular period of time may only be audited one time under this Section 4.5. The Auditing Party will cause their independent third-party auditors not to provide the Auditing Party with any copies of such accounts, records or reports and not to disclose to the Auditing Party any information other than information relating solely to the accuracy of the accounting and payments made by Purchaser pursuant to this Article 4. The Auditing Party will cause its independent third-party auditors to promptly provide a copy of their report to Purchaser. If such audit determines that payments are due to Spectrum, Purchaser will pay to Spectrum any such additional amounts within [***] Business Days after the date on which such auditor’s written report is delivered to Purchaser and the Auditing Party, unless such audit report is disputed by Purchaser, in which case the dispute will be resolved in accordance with Section 16.10. If such audit determines that Purchaser has overpaid any amounts to Spectrum, Spectrum will refund any such overpaid amounts to Purchaser within [***] Business Days after the date on which such auditor’s written report is delivered to Purchaser and the Auditing Party. Any such inspection of records will be at Spectrum’s expense unless such audit discloses a deficiency in the payments made by Purchaser (whether for itself or on behalf of its Affiliates) of more than [***] percent ([***]%) of the aggregate amount payable for the relevant period, in which case Purchaser will bear the cost of such audit. Each of the parties agrees that all information subject to review under this Section 4.5 is Purchaser’s Confidential Information that is subject to Spectrum’s confidentiality and non-use obligations under Section 9.5.2, and the Auditing Party agrees that it will cause its independent third-party auditors to also retain all such information subject to the non-disclosure and non-use restrictions of Section 9.5.2 or similar (but no less stringent) obligations of confidentiality and non-use customary in the accounting industry.

  • Financial Reports The Borrower shall, and shall cause each Subsidiary to, maintain a system of accounting in accordance with generally accepted accounting principles and, where applicable, regulatory accounting principles, and shall furnish to the Bank and its duly authorized representatives such information respecting the business and financial condition of the Borrower and the Subsidiaries (including non-financial information and examination reports and supervisory letters to the extent permitted by applicable regulatory authorities) as the Bank may reasonably request; and without any request, the Borrower shall furnish to the Bank: (a) within 30 days after the close of each fiscal quarter, all call reports and other financial statements required to be delivered by the Borrower and by each Banking Subsidiary to any governmental authority or authorities having jurisdiction over the Borrower or such Banking Subsidiary and all schedules thereto; (b) within 120 days after the close of each fiscal year, a copy of the consolidated and consolidating balance sheet of the Borrower and the Subsidiaries as of the close of such period and the consolidated and consolidating statements of income, retained earnings and cash flows of the Borrower and the Subsidiaries for such period, and accompanying notes thereto, each in reasonable detail showing in comparative form the figures for the previous fiscal year, accompanied by an unqualified opinion thereon of a firm of independent public accountants of recognized standing, selected by the Borrower and satisfactory to the Bank; (c) promptly upon the receipt or execution thereof, (i) notice by the Borrower or any Banking Subsidiary that (1) it has received a request or directive from any federal or state regulatory agency which requires it to submit a capital maintenance or restoration plan or restricts the payment of dividends by any Banking Subsidiary to the Borrower or (2) it has submitted a capital maintenance or restoration plan to any federal or state regulatory agency or has entered into a memorandum of agreement with any such agency, including, without limitation. any agreement which restricts the payment of dividends by any Banking Subsidiary to the Borrower or otherwise imposes restrictions or requirements on it which are not generally applicable to banks or thrifts or their holding companies, and (ii) copies of any such plan, memorandum, or agreement, unless disclosure is prohibited by the terms thereof and, after the Borrower or such Banking Subsidiary has in good faith attempted to obtain the consent of such regulatory agency, such agency will not consent to the disclosure of such plan, memorandum, or agreement to the Bank; and (d) promptly after knowledge thereof shall have come to the attention of any responsible officer of the Borrower, written notice of any threatened or pending litigation or governmental proceeding or labor controversy against the Borrower or any Subsidiary which, if adversely determined, would materially and adversely affect the financial condition, Properties, business or operations of the Borrower or any Subsidiary or of the occurrence of any Default or Event of Default hereunder.

  • Financial Report 7.1.1 A certified interim financial report shall be submitted to IOM no later than [Date (A)]. The interim financial report shall present how the contribution from IOM has been used from the start date of the project to [Date]. 7.1.1. Certified interim financial reports shall be submitted to IOM within 30 days from the below listed reporting date. The interim financial reports shall present how the contribution from IOM has been used from the start date of the project up to the reporting date. 1st Interim Report e.g. 30 June 201X 2nd Interim Report e.g. 31 December 201X

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