Residual Funds Accumulated during the Term of the Agreement Sample Clauses

Residual Funds Accumulated during the Term of the Agreement. Provider may use Residual Funds accumulated during the term of this Agreement to pay for overtime as authorized by the Participant in accordance with applicable state and/or federal law. Provided, however, Provider shall account for the same in writing within ninety (90) calendar days following the end of the within Agreement. If, at the end of the Agreement, Provider has Residual Funds on hand, Provider shall remit one-half (50%) of Residual Funds to the KDADS. The remaining balance shall “carry over” to the next agreement’s term. Notwithstanding this paragraph, a Provider may file with the KDADS a written request to retain Residual Funds in excess of the allowed 50%. Such request shall specify the reasons for such request. The Parties agree that the Secretary’s decision shall be final and not subject to any appeal rights; and
Sample 1
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Residual Funds Accumulated during the Term of the Agreement. Residual Funds accumulated during the term of this Agreement may be used to pay overtime wages only if such use of the Residual Funds is authorized by the Participant in accordance with applicable state and federal law. The Parties agree that the Provider has no authority as to whether a Direct Service Worker works overtime or whether Residual Funds are used to pay overtime wages. The Provider shall account for the Residual Funds from 2016 as part of the audit required by paragraphs 10 and 11 (as applicable). If Provider has Residual Funds from 2016, Provider shall remit one half (50%) of Residual Funds to the KDADS within sixty (60) days after the accounting for the 2016 Residual Funds is due. The remaining balance of Residual Funds shall “carry over” to 2017. Notwithstanding this paragraph, a Provider may file with the KDADS a written request to retain Residual Funds in excess of the allowed 50%. The request shall be made in writing by the date that the accounting for the 2016 Residual Funds is due and shall specify the reasons therefor. The Parties agree that the Secretary’s decision shall be final and not subject to any appeal rights; and
Sample 1

Related to Residual Funds Accumulated during the Term of the Agreement

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