PAYMENT SUBJECT TO AUDIT Sample Clauses

PAYMENT SUBJECT TO AUDIT. Payments made to the GRANTEE are subject to review, later verification and subsequent audit by the CITY. A final financial and compliance audit may be initiated up to six (6) years after the final payment has been paid or until the after the final audit has been completed, whichever is later. This provision survives termination of this Agreement. Prior to entering into this Agreement, the GRANTEE shall have provided to the DCS Director’s sole satisfaction, a listing of substantiating documentation (e.g. detailed receipts, invoices, payroll statement), the GRANTEE will produce, upon the DCS Director’s request, documentation justifying allowable costs within the stated period. When audits disclose overpayments to the GRANTEE, the CITY may, at its option, either require the GRANTEE to repay the overpayment by the CITY or deduct the amount of overpayment from monies due the GRANTEE under this Agreement or under any other Agreement between the GRANTEE and the CITY. Any overpayments not repaid through actual repayment or by deduction within thirty (30) calendar days of notice to the GRANTEE shall be charged simple interest at ten percent (10%) per annum. The thirty (30) calendar day notice of repayment or deduction shall commence upon mailing of written notice to the GRANTEE.
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Related to PAYMENT SUBJECT TO AUDIT

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  • Entity Accounts Subject to Review A Preexisting Entity Account that has an account balance or value that exceeds $250,000 as of June 30, 2014, and a Preexisting Entity Account that does not exceed $250,000 as of June 30, 2014 but the account balance or value of which exceeds $1,000,000 as of the last day of 2015 or any subsequent calendar year, must be reviewed in accordance with the procedures set forth in paragraph D of this section.

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  • Agreement Subject to Appropriation The City is obligated only to pay its obligations set forth in this Agreement as may lawfully be made from funds appropriated and budgeted for that purpose during the City’s then current fiscal year. The City’s obligations under this Agreement are current expenses subject to the “budget law” and the unfettered legislative discretion of the City concerning budgeted purposes and appropriation of funds. Should the City elect not to appropriate and budget funds to pay its Agreement obligations, this Agreement shall be deemed terminated at the end of the then-current fiscal year term for which such funds were appropriated and budgeted for such purpose and the City shall be relieved of any subsequent obligation under this Agreement. The parties agree that the City has no obligation or duty of good faith to budget or appropriate the payment of the City’s obligations set forth in this Agreement in any budget in any fiscal year other than the fiscal year in which this Agreement is executed and delivered. The City shall be the sole judge and authority in determining the availability of funds for its obligations under this Agreement. The City shall keep Consultant informed as to the availability of funds for this Agreement. The obligation of the City to make any payment pursuant to this Agreement is not a general obligation or indebtedness of the City. Consultant hereby waives any and all rights to bring any claim against the City from or relating in any way to the City’s termination of this Agreement pursuant to this section.

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