Common use of FUNDS MANAGEMENT Clause in Contracts

FUNDS MANAGEMENT. The Subrecipient must maintain funds received under this Agreement in separate ledger accounts and cannot mix these funds with funds from other sources. The Subrecipient must manage funds according to applicable Federal regulations for administrative requirements, costs principles, and audits. The Subrecipient must maintain adequate business systems to comply with Federal requirements. The business systems that must be maintained are: • Financial Management • Procurement • Personnel • Property • Travel A system is adequate if it is 1) written; 2) consistently followed – it applies in all similar circumstances; and 3) consistently applied – it applies to all sources of funds.

FUNDS MANAGEMENT. The Subrecipient subrecipient must maintain funds received under this Agreement in separate ledger accounts and cannot mix these funds with funds from other sources. The Subrecipient subrecipient must manage funds according to applicable Federal regulations for administrative requirements, costs principles, and audits. The Subrecipient subrecipient must maintain adequate business systems to comply with Federal requirements. The business systems that must be maintained are: • Financial Management • Procurement • Personnel • Property • Travel A system is adequate if it is 1) written; 2) consistently followed – it applies in all similar circumstances; and 3) consistently applied – it applies to all sources of funds.

FUNDS MANAGEMENT. The Subrecipient must maintain funds received under this Agreement in separate ledger accounts and cannot mix these funds with funds from other sources. The Subrecipient must manage funds according to all applicable Federal regulations for administrative requirementsregulations, costs principles, including 2 CFR Part 200 and auditsspecifically 2 CFR 200.302. The Subrecipient must maintain adequate the following business systems to comply with Federal requirements. The business systems that must be maintained aresystems: • Financial Management • Procurement • Personnel • Property • Travel A To be adequate, a business system is adequate if it is must be 1) writtencomplete and in writing; and 2) consistently followed – Subrecipient must apply it applies in all similar circumstances; and 3) consistently applied – it applies to all sources , regardless of fundsfunding source.

FUNDS MANAGEMENT. The Subrecipient subrecipient must maintain funds received under this Agreement in separate ledger accounts and cannot mix these funds with funds from other sources. The Subrecipient subrecipient must manage funds according to applicable Federal regulations for administrative requirements, costs principles, and audits. The Subrecipient subrecipient must maintain adequate business systems to comply with Federal requirements. The business systems that must be maintained are: • Financial Management • Procurement • Personnel • Property • Travel A system is adequate if it is 1) written; 2) consistently followed – it applies in all similar circumstances; and 3) consistently applied – it applies to all sources of funds.

FUNDS MANAGEMENT. The Subrecipient subrecipient must maintain funds received under this Agreement in separate ledger accounts and cannot mix these funds with funds from other sources. The Subrecipient subrecipient must manage funds according to applicable Federal regulations for administrative requirements, costs principles, and audits. The Subrecipient subrecipient must maintain adequate business systems to comply with Federal requirements. The business systems that must be maintained are: •  Financial Management •  Procurement •  Personnel •  Property •  Travel A system is adequate if it is 1) written; 2) consistently followed – it applies in all similar circumstances; and 3) consistently applied – it applies to all sources of funds.

FUNDS MANAGEMENT. The Subrecipient must maintain funds received under this Agreement in separate ledger accounts and cannot mix these funds with funds from other sources. The Subrecipient must manage funds according to applicable Federal regulations for administrative requirements, costs principles, and audits. The Subrecipient must maintain adequate business systems to comply with Federal requirements. The business systems that must be maintained are: •  Financial Management •  Procurement •  Personnel •  Property •  Travel A system is adequate if it is 1) written; 2) consistently followed – it applies in all similar circumstances; and 3) consistently applied – it applies to all sources of funds.