Common use of Fiscal Responsibilities of GRANTEE Clause in Contracts

Fiscal Responsibilities of GRANTEE. GRANTEE shall: a. Appoint and submit to CITY, the name of a fiscal agent who shall be responsible for the financial and accounting activities of the GRANTEE, including the receipt and disbursement of GRANTEE funds. b. Establish and maintain a system of accounts that shall be in conformance with generally accepted principles of accounting for budgeted funds. Such system of accounts shall be subject to review and approval of CITY. c. Appoint and submit to CITY, the name of a fiscal agent who shall be responsible for the financial and accounting activities of the GRANTEE, including the receipt and disbursement of GRANTEE funds. d. Establish and maintain a system of accounts that shall be in conformance with generally accepted principles of accounting for budgeted funds. Such system of accounts shall be subject to review and approval of CITY. e. Complete and submit the Project Financial Workbook (PFW) for CITY approval before implementing the program. The workbook has multiple tabs that include Project Budget, Agency Budget, Personnel Allocation Plan (PCAP), Indirect Cost Allocation Plan (ICAP), and Source of Funds (SOF). f. Develop an indirect cost allocation plan for determining the appropriate GRANTEE’s share of administrative costs if indirect costs are charged and submit such plan to the CITY for approval in a form specified by the CITY prior to submitting reimbursement requests. g. Submit any requests to revise the Project Financial Workbook such as staff or budget changes to the CITY for approval before implementation. All revisions must be submitted by or before the end of Quarter 3 or March 31st. h. Document all costs by maintaining complete and accurate records of all financial transactions, including but not limited to contracts, invoices, time cards, cash receipts, vouchers, cancelled checks, bank statements and/or other official documentation evidencing in proper detail the nature and propriety of all charges. i. Submit to the CITY, within thirty (30) calendar days of the end of the preceding month, requests for reimbursement, together with documentation required by CITY. For the public services of the CDBG program, the last payment of the program year shall be submitted within ten (10) calendar days of the end of June. j. Certify insurability subject to CITY approval as outlined in EXHIBIT G to the AGREEMENT titled “INSURANCE”. k. Submit to HUD or CITY at such times and in such forms as HUD or CITY may require, such statements, records, reports, data, and information pertaining to matters covered by this AGREEMENT. l. Comply with 2 CFR 200 (Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards) and adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred. m. Administer all programs in conformance with 2 CFR 200 Subpart E, Cost Principles. These principles shall be applied for all costs incurred whether charged in a direct or indirect basis.

Fiscal Responsibilities of GRANTEE. GRANTEE shall: a. 1. Appoint and submit to CITY, the name of a fiscal agent who shall be responsible for the financial and accounting activities of the GRANTEE, including the receipt and disbursement of GRANTEE funds. b. 2. Establish and maintain a system of accounts that shall be in conformance with generally accepted principles of accounting for budgeted funds. Such system of accounts shall be subject to review and approval of CITY. c. Appoint 3. Document all costs by maintaining complete and submit accurate records of all financial transactions, including but not limited to contracts, invoices, time cards, cash receipts, vouchers, canceled checks, bank statements and/or other official documentation evidencing in proper detail the nature and propriety of all charges. 4. Submit to the CITY, the name of a fiscal agent who shall be responsible for the financial and accounting activities within thirty (30) calendar days of the GRANTEEend of the preceding month, including the receipt and disbursement of GRANTEE fundsrequests for reimbursement, together with documentation required by CITY. d. Establish 5. Certify insurability subject to CITY approval as outlined in EXHIBIT G, 6. Submit to CITY at such times and maintain a system of accounts that shall be in such forms as CITY may require, such statements, records, reports, data, and information pertaining to matters covered by this AGREEMENT. 7. Administer all programs in conformance with generally accepted principles of accounting OMB Circular A- Principles for budgeted funds. Such system of accounts shall be subject to review and approval of CITYNon- for all costs incurred whether charged in a direct or indirect basis. e. 8. Develop an indirect cost allocation plan for determining the appropriate are of administrative costs if indirect costs are charged and submit such plan to the CITY for approval in a form specified by the CITY prior to submitting reimbursement requests. 9. Complete and submit the Project Financial Workbook (PFW) for CITY approval before implementing the program. The workbook has multiple tabs that include Project Budget, Agency Budget, Personnel Allocation Plan (PCAP), Indirect Cost Allocation Plan (ICAP), and Source of Funds (SOF). f. Develop an indirect cost allocation plan for determining the appropriate GRANTEE’s share of administrative costs if indirect costs are charged and submit such plan to the CITY for approval in a form specified by the CITY prior to submitting reimbursement requests. g. 10. Submit any requests to revise the Project Financial Workbook such as staff or budget changes to the CITY for approval before implementation. All revisions must be submitted by or before the end of Quarter 3 or March 31st. h. Document all costs by maintaining complete and accurate records of all financial transactions, including but not limited to contracts, invoices, time cards, cash receipts, vouchers, cancelled checks, bank statements and/or other official documentation evidencing in proper detail the nature and propriety of all charges. i. Submit to the CITY, within thirty (30) calendar days of the end of the preceding month, requests for reimbursement, together with documentation required by CITY. For the public services of the CDBG program, the last payment of the program year shall be submitted within ten (10) calendar days of the end of June. j. Certify insurability subject to CITY approval as outlined in EXHIBIT G to the AGREEMENT titled “INSURANCE”. k. Submit to HUD or CITY at such times and in such forms as HUD or CITY may require, such statements, records, reports, data, and information pertaining to matters covered by this AGREEMENT. l. Comply with 2 CFR 200 (Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards) and adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred. m. Administer all programs in conformance with 2 CFR 200 Subpart E, Cost Principles. These principles shall be applied for all costs incurred whether charged in a direct or indirect basis.

Fiscal Responsibilities of GRANTEE. GRANTEE shall: a. 1. Appoint and submit to CITY, the name of a fiscal agent who shall be responsible for the financial and accounting activities of the GRANTEE, including the receipt and disbursement of GRANTEE funds. b. 2. Establish and maintain a system of accounts that shall be in conformance with generally accepted principles of accounting for budgeted funds. Such system of accounts shall be subject to review and approval of CITY. c. Appoint 3. Document all costs by maintaining complete and submit accurate records of all financial transactions, including but not limited to contracts, invoices, timecards, cash receipts, vouchers, canceled checks, bank statements and/or other official documentation evidencing in proper detail the nature and propriety of all charges. 4. Submit to the CITY, the name of a fiscal agent who shall be responsible for the financial and accounting activities within thirty (30) calendar days of the GRANTEEend of the preceding month, including the receipt and disbursement of GRANTEE fundsrequests for reimbursement, together with documentation required by CITY. d. Establish 5. Certify insurability subject to CITY approval as outlined in EXHIBIT G, entitled “INSURANCE.” 6. Submit to CITY at such times and maintain a system of accounts that shall be in such forms as CITY may require, such statements, records, reports, data, and information pertaining to matters covered by this AGREEMENT. 7. Administer all programs in conformance with generally accepted OMB Circular A-122, “Cost Principles for Non-Profit Organizations.” These principles of accounting for budgeted funds. Such system of accounts shall be subject to review and approval of CITYapplied for all costs incurred whether charged in a direct or indirect basis. e. 8. Develop an indirect cost allocation plan for determining the appropriate GRANTEE’s share of administrative costs if indirect costs are charged and submit such plan to the CITY for approval in a form specified by the CITY prior to submitting reimbursement requests. 9. Complete and submit the Project Financial Workbook (PFW) for CITY approval before implementing the program. The workbook has multiple tabs that include Project Budget, Agency Budget, Personnel Allocation Plan (PCAP), Indirect Cost Allocation Plan (ICAP), and Source of Funds (SOF). f. Develop an indirect cost allocation plan for determining the appropriate GRANTEE’s share of administrative costs if indirect costs are charged and submit such plan to the CITY for approval in a form specified by the CITY prior to submitting reimbursement requests. g. 10. Submit any requests to revise the Project Financial Workbook such as staff or budget changes to the CITY for approval before implementation. All revisions must be submitted by or before the end of Quarter 3 or March 31st. h. Document all costs by maintaining complete and accurate records of all financial transactions, including but not limited to contracts, invoices, time cards, cash receipts, vouchers, cancelled checks, bank statements and/or other official documentation evidencing in proper detail the nature and propriety of all charges. i. Submit to the CITY, within thirty (30) calendar days of the end of the preceding month, requests for reimbursement, together with documentation required by CITY. For the public services of the CDBG program, the last payment of the program year shall be submitted within ten (10) calendar days of the end of June. j. Certify insurability subject to CITY approval as outlined in EXHIBIT G to the AGREEMENT titled “INSURANCE”. k. Submit to HUD or CITY at such times and in such forms as HUD or CITY may require, such statements, records, reports, data, and information pertaining to matters covered by this AGREEMENT. l. Comply with 2 CFR 200 (Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards) and adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred. m. Administer all programs in conformance with 2 CFR 200 Subpart E, Cost Principles. These principles shall be applied for all costs incurred whether charged in a direct or indirect basis.