Common use of Reconciliation Statements Clause in Contracts

Reconciliation Statements. The Proponent shall submit to the City its requests for Housing Benefits, together with all required supporting reconciliation statements, in a form satisfactory to the City and at regular intervals established by the City, which intervals shall not be more often than monthly and not less often than annually. Following its review and approval of such requests and supporting statements, the City will make any necessary adjustments to its applicable regular Housing Benefits payments to the Proponent to account for any overpayment or underpayment of Housing Benefits as should on the reconciliation statement.