Fiscal Accountability. A. SUBRECIPIENT shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. SUBRECIPIENT’s system shall provide fiscal control and accounting procedures that will include the following:
1) Information pertaining to sub-grant and CONTRACT awards, obligations, unobligated balances, assets, expenditures, and income;
2) Effective internal controls to safeguard assets and assure their proper use;
3) A comparison of actual expenditures with budgeted amounts for each sub grant and CONTRACT;
4) Source documentation to support accounting records; and
5) Proper charging of costs and cost allocation.
B. SUBRECIPIENT’s Records. SUBRECIPIENT’s records shall be sufficient to:
1) Permit preparation of required reports;
2) Permit tracking of funds to a level of expenditure adequate to establish that funds have not been used in violation of the applicable restrictions on the use of such funds; and
3) Permit the tracking of program income, or profits earned, and any costs incurred (such as stand-in costs) that are otherwise allowable except for funding limitation.
Fiscal Accountability.
A. Contractor shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following:
1. Information pertaining to sub-grant and Contract awards, obligations, unobligated balances, assets, expenditures, and income;
2. Effective internal controls to safeguard assets and assure their proper use;
3. A comparison of actual expenditures with budgeted amounts for each sub grant and Contract;
4. Source documentation to support accounting records; and
5. Proper charging of costs and cost allocation.
B. Contractor’s Records. Contractor’s records shall be sufficient to:
1. Permit preparation of required reports;
2. Permit tracking of funds to a level of expenditure adequate to establish that funds have not been used in violation of the applicable restrictions on the use of such funds; and;
3. Permit the tracking of program income, or profits earned, and any costs incurred (such as stand-in costs) that are otherwise allowable except for funding limitation.
Fiscal Accountability a. PROVIDER shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. An integral part of the required financial management system is a system of internal accounting controls that will provide reasonable assurance that WIOA assets are safeguarded against loss from unauthorized use or disposition, and that accounting transactions affecting WIOA fund accountability are properly charged and recorded by administrative and program cost categories to permit the preparation of accurate and supportable financial reports.
b. PROVIDER will comply with controls, record keeping and fund accounting procedure requirements of WIOA, Federal and State regulations, and directives to ensure the proper accounting for program funds paid to PROVIDER by the MCWDB through a cost reimbursement process.
c. This agreement provides for the reimbursement of allowable costs that are identified and approved in the agreement budget, and incurred in the operation of the programs specified in the scope of services. Back-up documentation is required by PROVIDER to justify reimbursement payments made under this agreement.
d. All expenditures must be reported on an accrual basis of accounting.
e. No cost shall be allowed under this agreement which is not specifically identified in PROVIDER’s approved budget. PROVIDER shall not transfer funds between cost categories or adjust designated “total budget” line items without prior written approval by authorized WDB staff (applicable to cost reimbursement contracts only). Invoices for reimbursement submitted by PROVIDER that include designated total line item expenditures above the total budget for that designated line item will not be paid until the cost overrun is reconciled. All limitations on expenditures specified in Federal and State fiscal requirements shall apply to this agreement.
f. PROVIDER shall not charge nor receive compensation under this agreement for any services or expenses unless said services or expenses are directly and exclusively related to the purpose of this agreement. In addition, payment may not be received by PROVIDER from any other source for said services or expenses. Moreover, funds shall not be allowed for cost incurred before or after the effective dates of this agreement. PROVIDER shall not use WOIA funds as security or payment for obligations or as loans for activities of other funded programs.
g. PROVIDER’S personnel whose time is charged to the budget u...
Fiscal Accountability.
A. Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Subrecipient’s system shall provide fiscal control and accounting procedures that will include the following:
1) Information pertaining to sub-grant and Contract awards, obligations, unobligated balances, assets, expenditures, and income;
2) Effective internal controls to safeguard assets and assure their proper use;
3) A comparison of actual expenditures with budgeted amounts for each sub grant and Contract;
4) Source documentation to support accounting records; and
5) Proper charging of costs and cost allocation.
B. Subrecipient’s Records. Subrecipient’s records shall be sufficient to:
1) Permit preparation of required reports;
2) Permit tracking of funds to a level of expenditure adequate to establish that funds have not been used in violation of the applicable restrictions on the use of such funds; and
Fiscal Accountability.
A. Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Subrecipient’s system shall provide fiscal control and accounting procedures that will include the following:
1. Information pertaining to sub-grant and Contract awards, obligations, unobligated balances, assets, expenditures, and income;
2. Effective internal controls to safeguard assets and assure their proper use;
3. A comparison of actual expenditures with budgeted amounts for each sub grant and Contract;
4. Source documentation to support accounting records; and
5. Proper charging of costs and cost allocation.
B. Subrecipient’s Records. Subrecipient’s records shall be sufficient to:
1. Permit preparation of required reports;
2. Permit tracking of funds to a level of expenditure adequate to establish that funds have not been used in violation of the applicable restrictions on the use of such funds;
3. Permit the tracking of program income earned, and any costs incurred (such as stand- in costs) that are otherwise allowable except for funding limitation; and
4. Permit tracking and reporting of leveraging as required by SB734 (Section 14211 Unemployment Insurance Code § 14211 relating to workforce development.)
Fiscal Accountability. Unless MCC agrees otherwise and other than with respect to any MCC Contracted Activities, the Government shall develop, adopt, and implement a manual (as approved by MCC) setting forth the principles, mechanisms, and procedures (the “Fiscal Accountability Plan”) that shall be used to ensure appropriate fiscal accountability and compliance with MCC’s Cost Principles for Government Affiliates provided by MCC or posted on the MCC Website (the “MCC Cost Principles”) for the use of the Grant funding. The Fiscal Accountability Plan shall include, among other things, requirements with respect to
(a) budgeting; (b) accounting; (c) cash management; (d) financial transactions (receipts and payments); (e) opening and managing Permitted Accounts; (f) personnel and payroll; (g) travel and vehicle use; (h) asset and inventory control; (i) audits; and (j) reporting. The Fiscal Accountability Plan shall be revised periodically, subject to review and approval by MCC.
Fiscal Accountability. 178. The National Constitution will set out the requirements within which the Bougainville Constitution will establish a framework for orderly management of the autonomous Bougainville Government’s financial and other resources.
Fiscal Accountability. United Way agrees to: Funded Partner agrees to:
Fiscal Accountability. Manager shall document all savings resulting from Manager’s involvement to the County, demonstrating how savings were achieved, and describe means for ensuring those savings shall remain in place.
