Financial responsibility and accountability Sample Clauses

Financial responsibility and accountability. All Public Bodies have a statutory responsibility to ensure that public money is properly accounted for and that responsibility extends to any funding within the terms of the LAA. The Accountable Body will promote clear financial responsibility and accountability and robust performance and risk management arrangements. This Framework sets out governance arrangements to ensure efficient and effective delivery of the financial management element of the Cumbria Agreement. It has regard to the Audit Commission’s guidance on working in partnerships ‘Bridging the Accountability Gap’ and the need to manage risks around: • accountability between partners; • clarity on the processes for making decisions about the allocation of funding; • scrutiny of expenditure and allocations; • the adequacy of the systems for financial budgeting control and monitoring (performance and financial) within the partnership; • the adequacy of partners’ financial skills, resources and systems to plan and report on expenditure. • ensuring that there is clear ownership for each of the outcomes, performance measures, targets and improvement plans attaching to the Cumbria Agreement. • ensuring that there is a robust process in place for performance management; • recognising the importance of measuring, monitoring and managing the achievement of the Cumbria Agreement outcomes as a vital means of communication and motivation amongst all partners. • acting on behalf of partners involved in the development and delivery of the Cumbria Agreement in ensuring that all financial conditions are complied with. • ensuring good practice in procurement, commissioning and ethical standards. • The requirements and standards of accounting and financial records necessary to demonstrate effective stewardship of public funds.
Sample 1
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Financial responsibility and accountability. 1.1 All public bodies have a statutory responsibility and fiduciary duty to ensure that public money is properly accounted for and that responsibility extends to any funding within the terms of KA2. KCC is responsible for promoting clear financial responsibility and accountability and robust performance and risk management arrangements. This Framework sets out governance arrangements to ensure efficient and effective delivery of the financial management element of KA2. It has regard to the Audit Commission’s guidance on working in partnerships ‘Bridging the Accountability Gap’ and the need to manage risks around:
Sample 1

Related to Financial responsibility and accountability

  • LIABILITY AND ACCOUNTABILITY The Provider, if a non-profit entity, will provide continuous and adequate director, officer, and employee liability insurance coverage against any personal liability or accountability by reason of actions taken while acting within the scope of their authority during the existence of this Agreement and any renewal and extension thereof. Such coverage may be provided by a self-insurance program established and operating under the laws of the state of Florida.

  • Financial Responsibility You understand that you remain, solely and exclusively responsible for any and all financial risks, including, without limitation, insufficient funds associated with accessing the Service. The Credit Union shall not be liable in any manner for such risk unless Credit Union fails to follow the procedures described in materials for use of the service. You assume exclusive responsibility for the consequences of any instructions you give to the Credit Union, for your failures to access the Service properly in a manner prescribed by the Credit Union, and for your failure to supply accurate input information, including, without limitation, any information contained in an application.

  • Financial Responsibilities Provider shall, at its sole expense:

  • Fiscal Responsibility It is understood and agreed that the total amount of the funds used under this Agreement shall be used only for the project as described in the application and award documentation. Therefore, should the project not be completed, the Subrecipient shall reimburse said funds directly to the AZDOHS immediately. If the project is completed at a lower cost than the original budget called for, the amount reimbursed to the Subrecipient shall be for only the amount of dollars actually spent by the Subrecipient in accordance with the approved application. For any funds received under this Agreement for which expenditure is disallowed by an audit exemption or otherwise by the AZDOHS, the State, or Federal government, the Subrecipient shall reimburse said funds directly to the AZDOHS immediately.

  • INSURANCE AND PROOF OF FINANCIAL RESPONSIBILITY Contractor understands and agrees that financial responsibility for claims or damages to any person, or to Contractor’s employees and agents, shall rest with the Contractor. Contractor and its subcontractors shall effect and maintain any insurance coverage, including, but not limited to, Workers’ Compensation, Employers’ Liability, General Liability, Contractual Liability, Automobile Liability and Umbrella Liability to support such financial obligations. The indemnification obligation, however, shall not be reduced in any way by existence or non-existence, limitation, amount or type of damages, compensation, or benefits payable under Workers’ Compensation laws or other insurance provisions. The minimum limits of insurance required of the Contractor by MPS shall be: Workers’ Compensation Statutory Limits Employers’ Liability $100,000 per occurrence General Liability $1,000,000 per occurrence/$2,000,000 aggregate Auto Liability $1,000,000 per occurrence Umbrella (excess) Liability $1,000,000 per occurrence The Milwaukee Board of School Directors shall be named as an additional insured under Contractor’s and subcontractors’ general liability insurance and umbrella liability insurance. Evidence of all required insurances of Contractor shall be submitted electronically to MPS via its third party vendor, EXIGIS Risk Management Services. Waivers and exceptions to the above limits will be in the sole discretion of MPS and shall be recorded in the EXIGIS system, which records are incorporated into this Contract by reference. The certificate of insurance or policies of insurance evidencing all coverages shall include a statement that MPS shall be afforded a thirty (30) day written notice of cancellation, non-renewal or material change by any of Contractor’s insurers providing the coverages required by MPS for the duration of this Contract.

  • MUTUAL RESPONSIBILITY 6.2.1 The Contractor shall afford the State and separate contractors reasonable opportunity for the introduction and storage of their materials and equipment and the execution of their work, and shall connect and coordinate his / her Work with the work of the State and separate contractors as required by the Contract Documents.

  • General Responsibility The Consultant shall, at all times during the Agreement, remain responsible. The Consultant agrees, if requested by the Commissioner of NYSDOT or his or her designee, to present evidence of its continuing legal authority to do business in New York State, integrity, experience, ability, prior performance, and organizational and financial capacity.

  • General Responsibilities of the Parties 1. The Parties will work together in a spirit of cooperation and partnership, with the responsibilities and accountabilities set out in this Agreement, to implement the Programme Documents in full in a timely, efficient, and effective, manner.

  • Fiscal Responsibilities ‌ The School shall maintain accurate and comprehensive financial records, practice governmental accounting in accordance with Generally Accepted Accounting Principles, and use public funds in a fiscally responsible manner.

  • POSITIONS OF SPECIAL RESPONSIBILITY 1. The Board, in consultation and agreement with the Union, will draw up job descriptions for all Positions of Special Responsibility, including, but not limited to, Head Teachers, Department Heads, Helping Teachers and Teachers in Charge. These descriptions shall be recognized as the job descriptions for such positions.

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