Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below:
1. Prepare and submit to the Director of Contracted School Services an Annual Budget set forth in the required format that equals the amount of payments set forth in II.A.
2. Expend and account for funds in a manner consistent with the provisions of this Contract, Appendix E and F. Contractor shall obtain written permission from the Director of Contracted School Services prior to making any expenditure which deviates 10% or more in any budgeted category of the Contractor’s Annual Budget set forth in Appendix E. Contractor shall not expend less than the total amount of the Contract without the express written permission of the Director of Contracted School Services. Contractor may carry over Board funds from one school year to the next, in accordance with MPS’ carry-over policies.
3. Complete and provide the Board with one copy of the annual single audit report performed according to the requirements of the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, regardless of the portion of federal funds received from the Board, no later than 4 months after Contractor’s year ends, if applicable. Contractor shall also provide the Board with a copy of the annual audited financial statements. In addition, Contractor shall submit, to the Director of Contracted School Services, management letters and/or reports of independent auditors transmitting reportable conditions or advice to Contractor. Reports shall be submitted to the Director of Contracted School Services no later than 4 months after the Contractor’s year ends, unless a written extension is obtained from the appropriate MPS administrator. Instructional, instructional support and non-instructional support cost classifications, for auditing purposes, shall be evaluated in accordance with the guidelines set forth in the most current version of the Wisconsin Uniform Financial Accounting Requirements (WUFAR), available through the Wisconsin Department of Public Instruction (DPI), or any guidelines pre-approved by the Director of Contracted School Services.
4. Maintain adequate source records, including, but not limited to, invoices, payroll records, time sheets, and receipts.
5. Use appropriate cash management procedures, so that the public funds dispersed under this Contract are discernible from other funds. Maintain cash disbursement obligations...
Fiscal Requirements. 1. Provider agrees to spend all funds received under this Agreement in accordance with the authorized cost categories as identified in Appendix G.
2. Provider will maintain adequate source records including, but not limited to, invoices, payroll records, time sheets and receipts for up to three years after the termination of this Agreement.
a. Copies of all receipts submitted by the Provider must be “legible” and provide the following information:
1. Name of vendor from which the item was purchased;
2. Date of the purchase, which must coincide with the period in which the reimbursement is requested;
3. Identification and quantity of items purchased; and
4. Amount spent (excluding all taxes, late payment fees, etc.).
b. All purchases must include a written description of the purpose of the expenditure on the monthly “Schedule of Paid Costs.” A Schedule of Paid Costs Monthly Report form is included in Appendix G. Any purchase that does not include a description will not be approved for reimbursement.
3. Provider will use appropriate cash management procedures so that public funds disbursed under this Agreement are discernible from other funds.
4. Provider will expend and account for funds in a manner consistent with: the provisions of this Agreement; 34 C.F.R. § 75.532, (U.S. Department of Education General Administrative Regulations (“XXXXX”)); and for allowable costs as outlined in 2 C.F.R. § 200.400 et seq.
5. Provider must submit an amended budget to MPS for approval prior to making any adjustments in the budget category amounts. Budget amendments will not be accepted after February 26, 2016.
6. Any remaining funds allocated to Provider, but not expended, during the term of this Agreement will remain under the jurisdiction of the Board for future programming.
7. Provider understands that a portion of any funds raised by the Board for the CLCs may be used to assist with MPS’s CLC operation costs.
Fiscal Requirements. The grantee/sub-grantee/sub-recipient, shall not use <Enter Name of Federal Award> to:
Fiscal Requirements. A. The Provider, at its own expense, shall obtain and maintain in force throughout the period of this Agreement workers’ compensation insurance for all the Provider’s employees, employed upon the premises and in connection with its other operations pursuant to this Agreement, and as set forth in the District of Columbia’s Worker’s Compensation Act of 1979, effective July 1, 1980 (D.C. Law 3-77; D.C. Code §§ 32-1501 et seq.).
B. Any Provider who receives District funds in the amount of $100,000 or more pursuant to this Agreement shall pay its affiliated employees a living wage of no less than $16.10 per hour in accordance with the “District of Columbia Living Wage Act of 2006”, effective June 8, 2006 (D.C. Law 16-118; D.C. Code §§ 2-220.01 et seq.). Subsequent rates, which are updated each year on Jan. 1, supersede prior rates and are hereby incorporated into this Agreement. Child care providers must also comply with the requirements of the “Universal Paid Leave Amendment Act of 2016, “effective April 17, 2017 (D.C. Law 21-264; D.C. Official Code § 32-541.01 et seq.), as applicable.
C. The Living Wage requirement applies to all non-exempt staff employed by a Provider who are not otherwise exempt from this requirement, including staff employed in roles not covered by the Early Childhood Educator Pay Equity Fund.
D. The Provider shall provide to each affiliated employee the Living Wage Fact Sheet, available, here and post the Living Wage Fact Sheet in a location that is visible to staff in the place of business.
E. The Provider shall ensure that a Provider’s subcontractors who receive $15,000 or more of any funds received by the Provider pursuant to this Agreement shall pay their affiliated employees no less than the living wage.
F. The Provider shall notify each subcontractor that would be subject to providing the living wage to affiliated employees, of this requirement in writing.
G. A Provider, or the Provider’s subcontractor, may be exempt from the requirements of the Living Wage Act in the following circumstances:
1. The Provider, or the Provider’s subcontractor, is under an existing or future bargaining agreement, provided that the future collective bargaining agreement results in the employee being paid no less than the established living wage;
2. The Provider, or the Provider’s subcontractor, is a non-profit organization that does not employ more than fifty (50) people and qualifies for taxation exempt pursuant to Section 501(c)(3) of the Internal Rev...
Fiscal Requirements. 1. Contractor agrees to spend all funds received under this Contract in accordance with the authorized expense categories identified on the Cost Report.
2. Contractor shall maintain adequate source records supporting all expenditures under this Contract, including, at a minimum: invoices; payroll records; time sheets; and receipts. Such records shall be retained by Contractor for at least three years after the termination of this Contract.
a. Copies of all receipts submitted by the Contractor must be legible and provide the following information:
i. Name of vendor from which the item was purchased;
ii. Date of the purchase which coincides with the period in which the reimbursement is requested;
iii. Identification and quantity of items purchased; and
iv. Amount spent (excluding all taxes, late payment fees, penalties, etc.)
b. All purchases on the Cost Report must include a written description of the purpose of the expenditure. Any purchase that does not include a description will be not be reimbursed.
3. Contractor shall use appropriate cash management procedures so that public funds disbursed under this Contract are discernible from other funds, including matching funds.
4. If requested by MPS, Contractor must submit a revised budget to MPS for approval prior to making any adjustments in the budget category amounts set forth in its originally submitted 2016-17 Partnership for the Arts and Humanities Application.
5. Any funds allocated to Contractor, but not expended during the contract term, shall remain under the jurisdiction of the Milwaukee Board of School Directors to be used for future programming.
Fiscal Requirements. 23.1. The Contractor is required to comply with Generally Accepted Accounting Principles (GAAP) or Governmental Generally Accepted Accounting Principles (GGAAP) that meet the financial management systems requirements of this Contract. The requirement in this section may be met either by submission of an annual independent auditor’s report or by the submission of semi-annual financial reports based upon the mid-point and end of the Contractor’s fiscal year, if an annual audit is not performed.
23.2. The Contractor shall comply with applicable requirements of 2 C.F.R. Part 200, including any future amendments, and any successor or replacement Office of Management and Budget (OMB) Circular or regulation.
23.3. The Contractor shall prepare a Schedule of Expenditures of Federal Awards (SEFA) in accordance with 2 C.F.R §200.508, if the Contractor (1) expends $750,000 or more in federal awards during the Contractor’s fiscal year, or (2) the Contractor is a State Auditor’s Office BARS user, regardless of expenditure level.
23.4. If the Contractor expends $750,000 or more in federal funds during the fiscal year, an independent audit report is required. A copy of the audit report shall be submitted to the County. Copies of other financial records may also be required.
23.4.1. Non-Profit Contractors and Public Entities - The audit report shall meet Title 2 C.F.R Part 200 requirements with assurances of financial record keeping that will enable identification of all federal funds received and expended by the OMB Catalog of Federal Domestic Assistance number. Title 2 C.F.R Part 200 audits for fiscal years that include this Contract shall be completed and submitted to the County within nine (9) months from the end of the Contractor’s fiscal year unless otherwise approved by the County in writing.
23.4.2. For Profit Contractors - An independent audit, an independent limited scope audit, or other evidence negotiated with and approved by the County that provides positive assurance of meeting GAAP or GGAAP shall be submitted. Independent audits for fiscal years that include this Contract shall be completed and submitted to the County within nine (9) months from the end of the Contractor’s fiscal year unless otherwise approved by the County in writing.
23.5. The Contractor shall provide to the County a corrective action plan for any audit findings within thirty (30) days of having received the auditor’s report. Failure to fulfill this requirement may result in corrective act...
Fiscal Requirements. Contractor agrees to the following requirements if a Federal Funds Subrecipient:
a. Contractor agrees to use, document, and maintain accounting policies, practices and procedures, and cost allocations, and to maintain fiscal and other records pertinent to this Contract consistent with Generally Accepted Accounting Principles (GAAP), Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (2 CFR Chapter I, Chapter II, Part 200), Oregon Administrative Rules, County financial procedure in the Countywide Contractor’s Fiscal Policies and Procedures Manual located at: xxxx://xxx.xxxxxx.xx/finance/fiscal-compliance. Accounting records shall be up-to-date and shall accurately reflect all revenue by source, all expenses by object of expense and all assets, liabilities, and equities consistent with the Generally Accepted Accounting Principles, Oregon Administrative Rules, and County procedures. Reports and fiscal data generated by the Contractor under this Contract shall be accessible to County upon request.
b. Contractor shall be subject to a County fiscal compliance review to monitor compliance with the County’s financial reporting and accounting requirements. The review shall be completed periodically, as described in the Countywide Contractor’s
Fiscal Requirements. Contractor may be required to submit General Xxxxxx expense reports and salaries and benefits documentation supporting expenses to be reimbursed during the funded term. First 5 will identify which reporting period(s) Contractor will be required to submit this information and provide prior notice to the Contractor.
Fiscal Requirements. If this Contract is a sub-award of Federal funds (making Contractor a “Sub-recipient”), or if Contractor is a “Pass-through Provider”, defined as a non-federal organization that receives federal dollars and passes those dollars along to Sub-recipients, (as indicated by the presence of a CFDA# in the table above), Contractor agrees to the following requirements:
Fiscal Requirements. The Contractor shall maintain a record system that documents the total number of units of service as defined in this Agreement and delivered during the term of this Agreement. These records shall also document the specific units billed to DHS under this Agreement.
