Common use of Fiscal Management Clause in Contracts

Fiscal Management. The Executive Director is responsible for the care and custody of all funds of the Authority and for the prudent management of the resources of the Authority. The Executive Director oversees all bookkeeping, accounting and financial activities including but not limited to: Deposit all funds of the Authority in the name of the Authority in such bank or banks as the Board shall select; Maintenance of accurate books of account showing receipts and expenditures; Preparation of an annual budget within budget guidelines for review and approval by the Board and DHCD as well as operating statements and financial reports and submissions; Maintenance of an accurate inventory of agency property and protect all such property; Procurement and purchase activities in accordance with procedures approved by the Board and in accordance with all applicable state, federal and local laws, and;. Make notification to DHCD of any potential legal claims or lawsuits brought against the Authority for any incidents occurring on state-aided property. Personnel. Executive Director is authorized to transact all personnel actions subject to the Personnel Policy, and to report such actions as necessary to the Board. The Executive Director is responsible for: Recruitment, hiring, staffing and supervision of department heads and any personnel not under the supervision of department heads; Ensuring that performance evaluations of all staff are completed; Determining the need for travel and training of all employees, and approval or denial of staff travel and training requests, consistent with the Authority’s annual budget; Promotion, demotion and disciplinary actions; and Review and update of the Personnel Policy and all job descriptions, as needed, and; Compliance with all state and federal employment laws.

Fiscal Management. The Executive Director is responsible for the care and custody of all funds of the Authority and for the prudent management of the resources of the Authority. The Executive Director oversees all bookkeeping, accounting and financial activities including but not limited to: Deposit all funds of the Authority in the name of the Authority in such bank or banks as the Board shall select; Maintenance of accurate books of account showing receipts and expenditures; Preparation of an annual budget within budget guidelines for review and approval by the Board and DHCD EOHLC as well as operating statements and financial reports and submissions; Maintenance of an accurate inventory of agency property and protect all such property; Procurement and purchase activities in accordance with procedures approved by the Board and in accordance with all applicable state, federal and local laws, and;. Make notification to DHCD EOHLC of any potential legal claims or lawsuits brought against the Authority for any incidents occurring on state-aided property. Personnel. Executive Director is authorized to transact all personnel actions subject to the Personnel Policy, and to report such actions as necessary to the Board. The Executive Director is responsible for: Recruitment, hiring, staffing and supervision of department heads and any personnel not under the supervision of department heads; Ensuring that performance evaluations of all staff are completed; Determining the need for travel and training of all employees, and approval or denial of staff travel and training requests, consistent with the Authority’s annual budget; Promotion, demotion and disciplinary actions; and Review and update of the Personnel Policy and all job descriptions, as needed, and; Compliance with all state and federal employment laws.