FINANCIAL STATUS REPORTING Clause Samples
The Financial Status Reporting clause requires a party, typically the recipient of funds or a contractor, to provide regular updates on their financial condition or the status of funds related to a project or agreement. This may involve submitting periodic financial statements, budget reports, or expenditure summaries to the other party, often at specified intervals or upon request. By mandating transparent financial disclosures, this clause helps ensure accountability, enables monitoring of fund usage, and reduces the risk of mismanagement or misuse of resources.
FINANCIAL STATUS REPORTING. A Federal Financial Report, Standard Form SF- 425 (and Federal Financial Report Attachment, SF-425A, if required for reporting multiple awards), must be submitted annually. These reports are due 90 days after the reporting period ending December 31st. The final SF-425 (and SF-425A, if applicable) must be submitted either with the final payment request or no later than 120 days from the expiration date of the award. These forms may be found at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇▇/web/grants/forms.html.
FINANCIAL STATUS REPORTING. The Recipient shall submit original, {Financial Reporting Schedule} financial reports using form SF-425, Federal Financial Report, (and Federal Financial Report Attachment SF-425A, if required for reporting multiple transactions), to the FAS Program Manager. These reports are due no later than 30 calendar days after the reporting period, unless otherwise agreed upon in writing. This form shall, inter alia, include a report of federal cash transactions. The final financial status report, using form SF-425 (and SF-425A, if applicable), must be submitted no later than 90 days from the expiration or termination date of the Agreement. These forms may be found at ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇/▇▇▇▇▇▇_▇▇▇▇▇.
FINANCIAL STATUS REPORTING. (1) Sub-grantee must adhere to the Financial Reporting obligations set forth in the Award Agreement.
(2) Sub-grantees is subject to the OMB guidance in subparts A through F of 2 CFR Part 200, as adopted and supplemented by the USDA in 2 CFR Part 400 and must follow the regulations found in 2 CFR 200.331 through .333.
(3) All subawards $30,000 or more must be reported at ▇▇▇▇.▇▇▇ in compliance with 2 CFR
(4) Federal regulation requires that recipients of federal assistance funds retain financial and programmatic records, supporting documents, statistical records, and all other records that are required by the terms of a grant, or may reasonably be considered pertinent to a grant, for a period of three (3) years from the date of the final financial statement report that includes expenditures from this Sub-grant. These records may be subject to an audit by the Federal donor agency, the Arbor Day Foundation and/or their representatives. All records shall be maintained for such longer period, if any, as is required to complete an audit, to resolve all questions concerning expenditures unless approval has been obtained from the Arbor Day Foundation to dispose of the records.
(5) If any litigation, claim or audit is started before the expiration of the three-year period, the records shall be retained until litigation, claims or audit findings involving the records has been resolved.
FINANCIAL STATUS REPORTING i. Subrecipient is subject to the OMB guidance in subparts A through F of 2 CFR Part 200, as adopted and supplemented by the USDA in 2 CFR Part 400 and must follow the regulations found in 2 CFR 200.331 through 2 CFR 200.333.
ii. All subawards $30,000 or more must be reported at ▇▇▇▇.▇▇▇ in compliance with 2 CFR 170. See Attachment for full text.
iii. All financial and programmatic records and supporting documents pertinent to this award must be kept for a period of three years from the date of submission of the final financial statement report including expenditures from this award, per federal regulations. These records may be subject to an audit by the federal donor agency, GreenLatinos and/or their representatives. All records are to be maintained for the additional duration necessary to complete an audit and/or resolve all questions concerning expenditures, unless approval has been provided from GreenLatinos to dispose of records.
iv. If any litigation, claim or audit is started before the expiration of the three-year period, the records shall be retained until litigation, claims or audit findings involving the records has been resolved.
v. Subrecipient is expected to take reasonable care that systems are in place to ensure funds expended under this award are used for the purposes described in the subaward and can be properly accounted for.
FINANCIAL STATUS REPORTING. A Federal Financial Report, form SF-425 (and Federal Financial Report Attachment SF-425A, if required for reporting multiple transactions), must be submitted within 30 calendar days following the end of each quarter, unless otherwise agreed upon in writing. This form shall, inter alia, include a report of federal cash transactions. The final financial status report, using form SF-425 (and SF-425A, if applicable), must be submitted no later than 90 days from the expiration or termination date of the Agreement. These forms may be found at ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇/▇▇▇▇▇▇_▇▇▇▇▇.