Responsibilities of the Fiscal Agent. Responsibilities of the Fiscal Agent: The scope of services provided by the Fiscal Agent include, but are not limited to: The Recipient of Advance Payment must deposit any funds received as an advance payment into a federally insured, interest-bearing account that provides the ability to track interest earned and withdrawals. Any accumulated interest shall be deemed to be grant moneys, subject to federal laws and regulations, and the recipient shall report interest earned on the advanced payment to the administering state agency.
Responsibilities of the Fiscal Agent. A Fiscal Agent for the COG is the entity responsible for providing fiscal, human resource and staff support services, including but not limited to legal and IT, to the COG. In the event that the COG requires a Fiscal Agent, the COG shall submit a copy of the agreement to the ADOT Contracts Program Manager for review and acceptance prior to execution. The agreement with a Fiscal Agent shall include:
1. Maintaining required accounting records for state and federal funds consistent with current state and federal requirements and the requirements of this Agreement.
2. Providing all appropriate funding, as identified by fiscal year in the WP, to allow the COG staff to effectively and efficiently fulfill its responsibilities and obligations under the WP.
Responsibilities of the Fiscal Agent. The Fiscal Agent for the MPO is the entity responsible for providing fiscal, human resource and staff support services, including but not limited to legal and IT, to the MPO. The responsibilities of the Fiscal Agent are as follows:
1. Maintain required accounting records for state and federal funds consistent with current state and federal requirements.
2. Provide all appropriate funding, as identified by fiscal year in the WP, to allow the MPO staff to effectively and efficiently execute the WP.
3. Provide human resource services to the MPO.
4. May establish procedures and policies for procurement and purchasing in compliance with state and federal regulations in cooperation with the MPO.
5. Execute necessary amendments to the agreement with the consent of the MPO.
Responsibilities of the Fiscal Agent. The Fiscal Agent for the MPO is the entity responsible for providing fiscal, human resource, and staff support services to the MPO. The responsibilities of the Fiscal Agent are as follows:
A. Maintain required accounting records for state and federal funds consistent with current federal and state requirements.
B. Provide all appropriate funding, as identified by fiscal year in the UPWP, to allow the MPO staff to effectively and efficiently operate the program.
C. Provide human resource services to the MPO.
D. Provide benefits for the MPO staff that shall be the same as the Fiscal Agent normally provides its own employees; or as determined through an agreement between the MPO and the Fiscal Agent. Costs incurred by the Fiscal Agent for these benefits may be reimbursed by the MPO.
E. Establish procedures and policies for procurement and purchasing, when necessary, in cooperation with the MPO.
F. Exercise sole responsibility to hire, supervise, evaluate, and terminate the MPO Transportation Planning Director.
Responsibilities of the Fiscal Agent. The Fiscal Agent shall provide the following services:
A. Deposit CICS funds into the MHOS CICS Regional Fiscal Agency Fund, hereafter referred to as Fund 41500, in accordance with Code of Iowa Chapter 12C and provide copy of bank statement monthly after reconciled by the Treasurer of Fiscal Agent County.
B. Issue payments from Fund 41500 as directed by authorized CICS personnel. Payments shall be issued to the individual, vendor, business, or other entity identified by CICS, in the amount specified, and to the address provided by CICS. Payments shall be issued as directed, within seven (7) workdays from the date the Fiscal Agent receives the approved claim with supporting documentation from authorized CICS personnel.
C. Ensure that any interest earned on Fund 41500 shall be credited directly to Fund 41500.
D. Direct bank fees shall be charged directly to Fund 41500 and shall not be considered a part of the Fiscal Agent compensation as outlined in Section VI.
Responsibilities of the Fiscal Agent. The Fiscal Agent will, in addition to the responsibilities in relation to settlement described in Part 1, be responsible, in the case of a non-syndicated issue, for notifying the relevant International Central Securities Depositaries (“ICSDs”) of the end of the restricted period (if applicable).
