Common use of Interim Fiscal Accountability Plan Clause in Contracts

Interim Fiscal Accountability Plan. Except as MCC otherwise agrees, the Permitted Designee shall develop, adopt and implement a manual (as approved by MCC), as may be updated from time to time, setting forth the principles, mechanisms and procedures (the “Interim Fiscal Accountability Plan”) that shall be used to ensure appropriate fiscal accountability for the use of the Grant funding for the Government-Contracted Activities, including the process to ensure that open, fair, and competitive procedures shall be used in a transparent manner in the administration of grants or cooperative agreements and in the procurement of goods, works and services. The Interim Fiscal Accountability Plan shall also include, among other things, requirements with respect to: (i) budgeting, (ii) accounting, (iii) financial transactions (receipts and payments), (iv) opening and managing permitted accounts, and (v) reporting.

Interim Fiscal Accountability Plan. Except as MCC otherwise agrees, the Permitted Designee shall will develop, adopt and implement a manual (as approved by MCC), as may be updated from time to time, setting forth the principles, mechanisms and procedures (the “Interim Fiscal Accountability Plan”) that shall will be used to ensure appropriate fiscal accountability for the use of the Grant funding for the Government-Contracted Activities, including the process to ensure that open, fair, and competitive procedures shall will be used in a transparent manner in the administration of grants or cooperative agreements and in the procurement of goods, works and services. The Interim Fiscal Accountability Plan shall will also include, among other things, requirements with respect to: (i) budgeting, (ii) accounting, (iii) financial transactions (receipts and payments), (iv) opening and managing permitted accounts, and (v) reporting.