Management of Funds Sample Clauses

Management of Funds. To hold, invest, reinvest, manage and administer (except as otherwise provided herein) all contributions so received, together with the income therefrom and any other increment thereon, for the benefit of Participants and their Beneficiaries in accordance with the terms of this Agreement.

Management of Funds. The Land Bank executive director, or other individual designated by the Board, shall be designated the fiscal agent of the Land Bank’s account established for the management of sales proceeds, monetary contributions made by the Parties, and other Land Bank funds. Standard accounting procedures shall be used in the management of the accounts.

Management of Funds. 5.1 The Chamber shall maintain a separate financial account of the hotel occupancy tax funds received from the Town and may not commingle the funds with any other account. It is understood and agreed by and between the parties that, upon budget approval by the Town, a fiduciary duty is created in the Chamber with respect to expenditure of the revenue provided. 5.2 The Chamber shall maintain complete and accurate financial records of each receipt and expenditure of the hotel occupancy funds and upon request of the Town Council or other person, shall make the records available for inspection and review during normal business hours in accordance with the provisions of the Texas Public Information Act (Texas Government Code, Chapter 552). 5.3 Hotel occupancy funds may be spent by the Chamber for day-to-day operations including supplies, salaries, office rental, travel expenses, and other administrative costs, only if such expenditures have been previously budgeted and approved by the Town in advance and shown to be directly related to promotion of tourism and the hotel industry. (See Exhibit “A”.) 5.4 The Chamber shall submit an annual report of activities and provide therein a projected line-item budget to the Town Council for approval that will include itemized personnel costs by singular job descriptions and capital outlay expenses if any. Such report and budget shall be provided no later than June 1st of each year for the next fiscal year. (1) A budget message explanatory of the tourism/promotional activity contracted, which message shall contain an outline of the plan of the activity and, in the following years, set forth the reasons for the salient changes from the previous year (as applicable) and any major budgetary revisions. Any subsequent budgetary revision exceeding 25% of any line item, or 10% of the entire budget, or $10,000.00 will require Town Council approval. All items of expenses shall contain detailed narratives as to the basis of the expenditure. (2) A consolidated statement of anticipated receipts and expenditures for all funds. (3) Anticipated revenues shall be placed in parallel columns and display therein the: a) Actual amount for the last completed year; b) Estimated amount for the current fiscal year; c) Proposed amount for the ensuing fiscal year. (4) Planned expenditures shall be placed in parallel columns opposite the various items of expenditures and display the: a) Actual amount of such items of expenditures for the last complet...

Management of Funds. 5.1 It is understood and agreed by and between the parties that a fiduciary duty is created in the Recipient with respect to expenditure of the revenue provided. 5.2 The Recipient shall maintain complete and accurate financial records of each receipt and expenditure of the hotel occupancy funds and, upon request of the Town Council or other person, shall make the records available for inspection and review during normal business hours, in accordance with the provisions of the Texas Public Information Act (Texas Government Code, Chapter 552). 5.3 Hotel occupancy funds may be spent by the Recipient for only those expenditures approved by the Town Council and shown on the attached Exhibit “A” to be directly related to the promotion of tourism and the hotel industry. 5.4 Recipient shall prepare and file with the Town Secretary a post event financial report, on a form prescribed by the Town, no later than 60 days after the event for which hotel occupancy tax funds were spent by the Recipient. This report shall identify a budget comparison of the hotel occupancy funds received by contract and the uses thereof as defined in the overall budget. It shall show the amount budgeted by category item and the actual expenditures of such. It shall compare the projected attendance and heads in beds from the application submitted prior to the event with the actual attendance and number of heads in beds generated by the event.

Management of Funds. The Recipient must: ensure that the Funds are held in an account in the Recipient’s name and which the Recipient solely controls, with a deposit-taking institution authorised under the Banking Xxx 0000 (Cth) to carry on banking business in Australia; if specified in Item 3.3 of the Project Particulars, ensure that the account referred to in clause 5.5(a) is: established solely for the purposes of this Agreement; and separate from the Recipient’s other operational accounts; and identify the receipt and expenditure of the Funds separately within the Recipient’s accounts and records so that the Funds are identifiable at all times.

Management of Funds. (a) The Recipient must: (i) ensure that the Funds are held in an account in the Recipient’s name and which the Recipient solely controls, with a deposit-taking institution authorised under the Banking Act 1959 (Cth) to carry on banking business in Australia; and (ii) identify the receipt and expenditure of the Funds separately and any interest accrued on the Funds within the Recipient’s accounts and records so that the Funds are identifiable at all times. (b) Notwithstanding clause 27(a)(i), the Department may, following the Commencement Date and by written notice, require the Recipient to ensure that the account referred to in clause 27(a)(i) is: (i) established solely for the purposes of this Agreement; and (ii) separate from the Recipient’s other operational accounts.

Management of Funds. The Recipient must: ensure that the Funds are held in an account in the Recipient’s name and which the Recipient solely controls, with a deposit-taking institution authorised under the Banking Act 1959 (Cth) to carry on banking business in Australia; and identify the receipt and expenditure of the Funds separately and any interest accrued on the Funds within the Recipient’s accounts and records so that the Funds are identifiable at all times. Notwithstanding clause 27(a)(i), the Department may, following the Commencement Date and by written notice, require the Recipient to ensure that the account referred to in clause 27(a)(i) is: established solely for the purposes of this Agreement; and separate from the Recipient’s other operational accounts. Where the Recipient engages another party to deliver or assist in the delivery of any components of the Project, the Recipient must enter into a contract with that party and that contract must be consistent with the terms of this Agreement. The Recipient is responsible for the performance of the Recipient’s responsibilities under this Agreement regardless of whether the Recipient has subcontracted any of its obligations. The Recipient must not enter into a subcontract under this Agreement with a subcontractor that is currently named as not complying with the Workplace Gender Equality Act 2012 (Cth). If requested, the Recipient must promptly provide to the Department a copy of any contract relating to the Project and/or any Material relating to the engagement of the subcontractor. The Recipient must participate, as reasonably required by the Department, in studies, evaluations and other activities intended to analyse the success of the Project or Programme in achieving the Programme Outcomes. Such participation may, where required by the Department, include but not be limited to: attending relevant conferences and forums in which evaluations and analysis are being undertaken; allowing third parties access to the Site to undertake analysis and evaluation of the Programme and the Project; making data, records and other information (including reports) available to third parties for the purposes of evaluation and analysis; and participating in other monitoring and evaluation activities as requested by the Department.

Management of Funds. Any such funds, money or amounts now or hereafter in the possession of Servicers may be commingled with other funds of Servicers, or, in the case of any funds held pursuant to the foregoing paragraphs, with any other funds of other customers of Servicers. In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, Servicers are hereby authorized by You at any time and from time to time, without notice or demand to You or to any other person (any such notice and demand being hereby expressly waived), to set off, recoup and to appropriate and to apply any and all such funds against and on account of your obligations to Servicers and their affiliates under this Agreement and any other agreement with Servicers or any of Servicers’ affiliates for any related equipment or related services (including any check services), whether such obligations are liquidated, unliquidated, fixed, contingent, matured or unmatured.

Management of Funds. The RA shall, in accordance with this RFA, receive the Funds from LOCCS in the form of a deposit to the Retrofit Disbursement Account, and promptly disburse the Funds. These Funds must be deposited in a non-interest bearing Retrofit Disbursement Account.

Management of Funds. 5.1 It is understood and agreed by and between the parties that a fiduciary duty is created in the Recipient with respect to expenditure of the revenue provided. 5.2 The Recipient shall maintain complete and accurate financial records of each receipt and expenditure of the hotel occupancy funds and, upon request of the Town Council or other person, shall make the records available for inspection and review during normal business hours, in accordance with the provisions of the Texas Public Information Act (Texas Government Code, Chapter 552). 5.3 Hotel occupancy funds may be spent by the Recipient for only those expenditures directly related to the promotion of tourism and the hotel industry in the Town of Fulton. 5.4 Recipient shall prepare and file with the Town Secretary a post event financial report, on a form prescribed by the Town (See attached Exhibit “A”), no later than 60 days after the event for which hotel occupancy tax funds were spent by the Recipient. This report shall identify a budget comparison of the hotel occupancy funds received by contract and the uses thereof as defined in the overall budget. It shall show the amount budgeted by category item and the actual expenditures of such. It shall compare the projected attendance and heads in beds from the application submitted prior to the event with the actual attendance and number of heads in beds generated by the event.