PROPERTY ACCOUNTING Sample Clauses
The PROPERTY ACCOUNTING clause establishes the requirements and procedures for tracking, recording, and reporting property owned, leased, or used under a contract. It typically outlines the responsibilities of the parties for maintaining accurate records of property acquisition, use, transfer, and disposal, and may require periodic inventory reports or audits. This clause ensures transparency and accountability in the management of property, helping to prevent loss, misuse, or misallocation of assets.
PROPERTY ACCOUNTING. All personal property provided by CITY and by COUNTY for the purpose of providing Fire Services under the terms of this Agreement shall be marked and accounted for in such a manner as to conform to the standard operating procedure established by the COUNTY for the segregation, care, and use of the respective property of each.
PROPERTY ACCOUNTING. The Agency shall keep a written inventory, which shall be readily available upon inspection by the Recipient or its designee, of all equipment valued at Five- Hundred Dollars ($500.00) or more purchased with ▇▇▇▇ ▇▇▇▇▇ Part A Grant Funds. The Agency must seek and gain Recipient approval prior to the purchase of any equipment valued at an amount greater than Five-Hundred Dollars ($500.00). The Agency further agrees to protect, insure, and maintain such equipment for its useful life. Such equipment shall be deemed as property of the Recipient and shall not be sole, leased, lent, encumbered, or in any other way disposed of by the Agency without Recipient’s prior written approval. Upon termination of this Contract, the Agency shall return all equipment, purchased with ▇▇▇▇ ▇▇▇▇▇ Part A Grant Funds, to the Recipient unless directed by the Recipient otherwise.
PROPERTY ACCOUNTING. 11.1 Identification and Control 11.2 Use of Inventory Parts/Use of Customer’s Parts 12.1 Contract Change Notice 12.2 Acceptance of Change 12.3 Non Refusal
12.4 Price of Changes
12.5 Changes To Meet Specifications 12.6 Change of Designated Orbital Position of Satellite Ka-5
PROPERTY ACCOUNTING. A. Identification and Control Contractor shall be directly responsible for and accountable for all * , * , subsystems or systems (whether in its possession or, where feasible, the possession of any of its Subcontractors) which are designated to become the property of NSS pursuant to the terms of this Contract, and which are part of the Items to be Delivered under this Contract. For this purpose, Contractor shall establish and maintain a system to control, protect, preserve and identify, at all times and until the Delivery and Acceptance of the last Item to be delivered hereunder, all of the aforementioned property in its possession
PROPERTY ACCOUNTING. 33 A. Identification and Control..............................................33 B. Subcontractors..........................................................33 C. Inventory...............................................................33
PROPERTY ACCOUNTING. All personal property or fixtures to real property provided by CITY OF KINGSBURG and by the DISTRICT for the purpose of providing Emergency Dispatch Services under the terms of this Agreement shall be marked and accounted for in such a manner as to conform to the standard operating procedure established by the DISTRICT for the segregation, care, and use of the respective property of each.
PROPERTY ACCOUNTING. SYSTEM The State will maintain access to Federal Excess Property Management Information System (FEPMIS) (or current property accounting system), to ensure LEAs maintain property books, to include, but not limited to, transfers, turn-ins, and disposal requests from an LEA or to generate these requests at the State-level and forward all approvals to the LESO for action. The State will:
a) Conduct quarterly reconciliations of State property records.
b) Ensure at least one person per ▇▇▇ maintains access to the property accounting system. Users may be “active” or “inactive” in the system, so long as they are registered. Ensure registered users are employees of the State/LEA.
i) In the State of North Carolina, system access is required for all member listed on the application within 10 business days of application approval notification.
c) Ensure LEAs receive and account for property in the property accounting system within 10 business days or DLA processing.
i) All LEA receipts records (digital/paper) will include.
(1) Pictures of the property received
(a) Vehicle and equipment will include Front, Side, ¾ View, ID Plate and/or VIN (2) 1348
(3) ATF Form
PROPERTY ACCOUNTING. SYSTEM The State will maintain access to Federal Excess Property Management Information System (FEPMIS) (or current property accounting system), to ensure LEAs maintain property books, to include, but not limited to, transfers, turn-ins, and disposal requests from an LEA or to generate these requests at the State-level and forward all approvals to the LESO for action. The State will:
a) Conduct quarterly reconciliations of State property records.
b) Ensure at least one person per ▇▇▇ maintains access to the property accounting system. Users may be “active” or “inactive” in the system, so long as they are registered. Ensure registered users are employees of the State/LEA.
c) Ensure LEAs receive and account for property in the property accounting system within 30 days.
PROPERTY ACCOUNTING. SYSTEM The State will maintain access to Federal Excess Property Management Information System (FEPMIS) (or current property accounting system), to ensure LEAs maintain
a) Conduct quarterly reconciliations of State property records.
b) Ensure at least one person per ▇▇▇ maintains access to the property accounting system. Users may be “active” or “inactive” in the system, so long as they are registered. Ensure registered users are employees of the State/LEA.
c) Ensure LEAs receive and account for property in the property accounting system within 30 days.
PROPERTY ACCOUNTING. New property setup and on-going maintenance from lease abstracts - Produce and record monthly recurring charges (rent roll) - Record non-recurring charges provided by management - Record and apply cash receipts to open charges - Produce standard system generated receivable, revenue and management reports - Maintain transaction documentation and closing files (account analysis and sub-ledger to general ledger reconciliations)