Common use of PAYMENT OF AUTHORIZED EXPENDITURES Clause in Contracts

PAYMENT OF AUTHORIZED EXPENDITURES. a. Subject to receipt of funds from the State, MCWDB agrees to reimburse PROVIDER for expenditures authorized in the agreement budget. Financial reports and invoices are due to the fiscal unit of the Monterey County Workforce Development Board by the 15th working day of each month and shall include all obligations, expenditures and accruals incurred during the previous month, unless otherwise specified by the MCWDB. Late submission of financial reports and invoices are subject to withholding of payment due to non-compliance with PROVIDER’S agreement to submit timely and accurate reports and invoices. The WDB’s Fiscal Unit shall pay the certified invoice within 30 days of receiving the certified invoice. Financial information reported on claims must be directly linked to records maintained by PROVIDER which support actual delivery of services as outlined in the existing agreement between PROVIDER and the MCWDB. The MCWDB shall be the sole judge of what constitutes adequate supporting documentation. b. PROVIDER shall be paid in accordance with the agreement and budget, not to exceed the maximum amount specified. Any cost incurred by PROVIDER over and above the maximum amount obligated by the agreement and budget shall be at the sole risk and expense of PROVIDER.

PAYMENT OF AUTHORIZED EXPENDITURES. a. Subject to receipt of funds from the State, the MCWDB agrees to reimburse PROVIDER Contractor for expenditures authorized in the agreement AGREEMENT budget. Financial reports and invoices are due to the fiscal unit of the Monterey County Workforce Development Board MCWDB by the 15th working day of each month and shall include all obligations, expenditures and accruals incurred during the previous month, unless otherwise specified by the MCWDB. Late submission of financial reports and invoices are subject to withholding of payment due to non-compliance with PROVIDER’S agreement Contractor’s AGREEMENT to submit timely and accurate reports and invoices. The WDBMCWDB’s Fiscal Unit shall pay the certified invoice within 30 45 days of receiving the certified invoice. Financial information reported on claims must be directly linked to records maintained by PROVIDER Contractor which support actual delivery of services as outlined in the existing agreement AGREEMENT between PROVIDER Contractor and the MCWDB. The MCWDB shall be the sole judge of what constitutes adequate supporting documentation. b. PROVIDER Contractor shall be paid in accordance with the agreement AGREEMENT and budget, not to exceed the maximum amount Agreement specified. Any cost incurred by PROVIDER Contractor over and above the maximum amount Agreement obligated by the agreement AGREEMENT and budget shall be at the sole risk and expense of PROVIDERContractor.