Common use of Fiscal Requirements Clause in Contracts

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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare Annually, Contractor shall outline a balanced budget for the funds provided under this Contract. The budget shall be prepared in accordance with the format prescribed in Appendix FE 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.shall classify costs as instructional, instructional support and noninstructional support costs. 2. Expend and account for funds in a manner consistent with the provisions of this Contract, Appendix E FE and F. GF. 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. FE. 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 Contract shall submit, to the Board with one Director of Contracted School Services, a copy of the annual audited financial statements including management letters and/or reports of independent auditors transmitting reportable conditions or advice to Contractor. Reports should be submitted to Contracted School Services no later than four months after the Contractor’s year ends unless written extension is obtained and approved. Contractor shall submit, to the Director of Contracted School Services, a copy of the single audit report performed according report, prepared in accordance 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 Boardif applicable, 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 four months after the Contractor’s year ends, unless a written extension is obtained from the appropriate MPS administratorand approved. Instructional, instructional support and non-instructional noninstructional 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), INSITE: Finance Analysis Model for Education attached hereto and incorporated herein by reference as Appendix J, 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare Annually, Contractor shall outline a balanced budget for the funds provided under this Contract. The budget shall be prepared in accordance with the format prescribed in Appendix E 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.shall classify costs as instructional, instructional support and noninstructional support costs. 2. Expend and account for funds in a manner consistent with the provisions of this Contract, Appendix E and F. G. Contractor shall obtain written permission from the Director of Contracted School Services ServicesMPS 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 MPS.the Director of Contracted School Services. Contractor may carry over Board B oard funds from one school year to the next, in accordance with MPS’ carry-carry- over policies. Contract shall submit, to the Director of Contracted School ServicesMPS, a copy of the audited financial statements including management letters and/or reports of independent auditors transmitting reportable conditions or advice to Contractor. Reports should be submitted to Contracted School ServicesMPS no later than four months after the Contractor’s year ends unless written extension is obtained and approved. 3. Complete and provide Contractor shall submit, to the Board with one Director of Contracted School ServicesMPS, a copy of the annual single audit report performed according report, prepared in accordance 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 Boardif applicable, 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 four months after the Contractor’s year ends, unless a written extension is obtained from the appropriate MPS administratorand approved. Instructional, instructional support and non-instructional noninstructional 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 ServicesServicesMPS. 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a current fiscal year semi-annual financial report covering the period from July 1 1st through December 31 of the current year 31st and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 20th of each year. 8. Deliver to the Board an a current fiscal year annual financial report covering the period from July 1 1st through June 30 of the current year 30th and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 31st of each year. 9. Contractor shall expend and account for funds in accordance to with the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than the following October 1 1st of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs. 14. MPS shall review this plan and budget for fair presentation and reasonableness. Contractor shall submit to MPS any plans to incur long-term debt, the funds to be used to repay the debt, and the schedule of any interest incurred from debt chargeable to funds received from MPS. MPS shall review this plan and schedule of repayment for fair presentation and reasonableness. Under no circumstances will this debt incur a liability to MPS.

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 FE and F. GF. 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. FE. 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I JI in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E FE and F GF no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E FE and F GF no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare Annually, Contractor shall outline a balanced budget for the funds provided under this Contract. The budget shall be prepared in accordance with the format prescribed in Appendix E 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.shall classify costs as instructional, instructional support and noninstructional support costs. 2. Expend and account for funds in a manner consistent with the provisions of this Contract, Appendix E and F. G. Contractor shall obtain written permission from the Director of Contracted School Services MPS 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 MPS. Contract shall submit, to MPS, a copy of the Director audited financial statements including management letters and/or reports of Contracted School Servicesindependent auditors transmitting reportable conditions or advice to Contractor. Contractor may carry over Board funds from one school Reports should be submitted to MPS no later than four months after the Contractor’s year to the next, in accordance with MPS’ carry-over policiesends unless written extension is obtained and approved. 3. Complete and provide Contractor shall submit, to the Board with one MPS, a copy of the annual single audit report performed according report, prepared in accordance 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 Boardif applicable, 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 four months after the Contractor’s year ends, unless a written extension is obtained from the appropriate MPS administratorand approved. Instructional, instructional support and non-instructional noninstructional 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 ServicesMPS. 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a current fiscal year semi-annual financial report covering the period from July 1 1st through December 31 of the current year 31st and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 20th of each year. 8. Deliver to the Board an a current fiscal year annual financial report covering the period from July 1 1st through June 30 of the current year 30th and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 31st of each year. 9. Contractor shall expend and account for funds in accordance to with the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than the following October 1 1st of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs. 14. MPS shall review this plan and budget for fair presentation and reasonableness. Contractor shall submit to MPS any plans to incur long-term debt, the funds to be used to repay the debt, and the schedule of any interest incurred from debt chargeable to funds received from MPS. MPS shall review this plan and schedule of repayment for fair presentation and reasonableness. Under no circumstances will this debt incur a liability to MPS.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare Annually, Contractor shall outline a balanced budget for the funds provided under this Contract. The budget shall be prepared in accordance with the format prescribed in Appendix F 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.shall classify costs as instructional, instructional support and noninstructional support costs. 2. Expend and account for funds in a manner consistent with the provisions of this Contract, Appendix E F and F. G. 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. F. 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 statutory requirements of P.L. 98-502 and in accordance to the Office requirements of Management Federal Circular A-110 and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards133, regardless of the portion of federal funds received from the Board, no later than 4 months after the 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 other 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 noninstructional 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)INSITE: Finance Analysis Model for Education attached hereto and incorporated herein by reference as Appendix J, 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I K in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a current fiscal year semi-annual financial report covering the period from July 1 1st through December 31 of the current year 31st and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than February 20 20th of each year. 8. Deliver to the Board an a current fiscal year annual financial report covering the period from July 1 1st through June 30 of the current year 30th and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than July 31 31st of each year. 9. Contractor shall expend and account for funds in accordance to with the federal guidelines set forth in the Office of Management and BudgetBudget OMB Circular(s) A21, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal AwardsA87 or A122. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than the following October 1 1st of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

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 F and F. G. 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. F. 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. InstructionalContractor shall submit, 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 to the Director of Contracted School Services, a copy of the audited financial statements including management letters and/or reports of independent auditors transmitting reportable conditions or advice to Contractor. Reports should be submitted to Contracted School Services no later than four months after the Contractor’s year ends unless written extension is obtained and approved. Contractor shall submit, to the Director of Contracted School Services, a copy of the single audit report, prepared in accordance 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, no later than four months after the Contractor’s year ends, unless written extension is obtained and approved. 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I J in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare and submit to the MPSthe 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 ServicesMPS 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 MPSthe Director of Contracted School Services. Contractor may carry over Board B oard funds from one school year to the next, in accordance with MPS’ carry-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 MPSthe 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 MPSthe 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 MPSthe 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare and submit to the MPSthe 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 ServicesMPS 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 MPSthe Director of Contracted School Services. Contractor may carry over Board funds from one school year to the next, in accordance with MPS’ carry-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 MPSthe 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 MPSthe 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 MPSthe 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs. 14. MPS shall review this plan and budget for fair presentation and reasonableness. Contractor shall submit to MPS any plans to incur long-term debt, the funds to be used to repay the debt, and the schedule of any interest incurred from debt chargeable to funds received from MPS. MPS shall review this plan and schedule of repayment for fair presentation and reasonableness. Under no circumstances will this debt incur a liability to MPS.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare and submit to the MPSthe 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 ServicesMPS 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 MPSthe Director of Contracted School Services. Contractor may carry over Board B oard funds from one school year to the next, in accordance with MPS’ carry-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 MPSthe 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 MPSthe 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 MPSthe 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 through December 31 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than February 20 of each year. 8. Deliver to the Board an annual financial report covering the period from July 1 through June 30 of the current year and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E and F no later than July 31 of each year 9. Contractor shall expend and account for funds in accordance to the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs. 14. MPS shall review this plan and budget for fair presentation and reasonableness. Contractor shall submit to MPS any plans to incur long-term debt, the funds to be used to repay the debt, and the schedule of any interest incurred from debt chargeable to funds received from MPS. MPS shall review this plan and schedule of repayment for fair presentation and reasonableness. Under no circumstances will this debt incur a liability to MPS.

Fiscal Requirements. Contractor shall comply with all fiscal requirements set forth below: 1. Prepare Annually, Contractor shall outline a balanced budget for the funds provided under this Contract. The budget shall be prepared in accordance with the format prescribed in Appendix F 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.shall classify costs as instructional, instructional support and noninstructional support costs. 2. Expend and account for funds in a manner consistent with the provisions of this Contract, Appendix E F and F. G. 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. F. 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 statutory requirements of the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles Principals, and Audit Requirements for Federal AwardsAwardsP.L. 98-502 and in accordance to the requirements of Federal Circular A-110 and 133, regardless of the portion of federal funds received from the Board, no later than 4 months after the 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 other 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 noninstructional 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)INSITE: Finance Analysis Model for Education attached hereto and incorporated herein by reference as Appendix J, 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I K in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a current fiscal year semi-annual financial report covering the period from July 1 1st through December 31 of the current year 31st and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than February 20 20th of each year. 8. Deliver to the Board an a current fiscal year annual financial report covering the period from July 1 1st through June 30 of the current year 30th and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than July 31 31st of each year. 9. Contractor shall expend and account for funds in accordance to with the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal AwardsAwardsCircular(s) A21, A87 or A122. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than the following October 1 1st of each year. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.

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 F and F. G. 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. F. 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 statutory requirements of the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal AwardsAwardsP.L. 98-502 and in accordance to the requirements of Federal Circular A-110 and 133, 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 directly associated with this Contract in a segregated account documented by ledger entries. 6. Complete and provide the Board with a Contractor Request For Funds Form attached hereto and incorporated herein by reference as Appendix I J in order to claim payment for services performed in operating the Educational Program in accordance with the payment schedule in paragraph II.A. below. 7. Deliver to the Board a semi-annual financial report covering the period from July 1 1, 20143 through December 31 of the current year 31, 20143 and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than February 20 of each year20, 20154. 8. Deliver to the Board an annual financial report covering the period from July 1 1, 20143 through June 30 of the current year 30, 20154 and showing budgeted expenses vs. actual expenses in the format set forth in Appendix E F and F G no later than July 31 of each year31, 20154. 9. Contractor shall expend and account for funds in accordance to towith the federal guidelines set forth in the Office of Management and Budget, 2 CFR Part 200, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal AwardsAwardsCircular(s) A21, A87 or A122. 10. Contractor shall request in writing a carryover if their annual expenditure report deviates 3% or more where revenue exceeds expenditures. This request must accompany the submission of their annual expenditure report. 11. Incur all costs associated with this Contract within the applicable term of this Contract and make payment for such costs no later than October 1 of each year1, 20143. 12. Assume liability for any costs disallowed by the Board because of violations of provisions in applicable federal and state laws, regulations, or rules. The Board reserves the right to withhold payment under this Contract and/or terminate this Contract if Contractor fails to comply with the provisions of this Contract. The Board reserves the right to reduce any amount otherwise due under this Contract or under any future agreement that the parties may enter into for costs that the Board determines are not allowable under this Contract. 13. Grant the Board, or any authorized MPS representative, the right to review the financial, operational, administrative, performance and audit records of Contractor for a period of up to 3 years following the expiration of this Contract. If Contractor fails to allow a full and complete financial and compliance audit, this Contract shall become null and void and all funds advanced under this Contract shall be due and owing from Contractor to the Board. If the audit by the Board identifies costs as inappropriate, the Board shall be entitled to recover any payments to Contractor made under this Contract for such costs.