STATEMENTS AND ACCOUNTING. 8.01 Within 3 months following the completion of each fiscal year of the Recipient during the Term, and at any other time within 3 months of being requested to do so by Destination BC, but no later than the seventh anniversary of the end of the Term, the Recipient must provide to Destination BC a statement documenting its expenditure of the Financial Contribution under this Agreement and accounting for any and all Overpayments, in form and content satisfactory to Destination BC, and:
(a) if it has audited financial statements prepared annually, provide its most recent audited financial statements, prepared by a recognized accounting firm, and, when available, the audited financial statements for the Recipient’s fiscal year(s) covering any portion of the Term of this Agreement; or
(b) if it does not have audited financial statements prepared annually, at Destination BC’s discretion:
(i) have prepared by a recognized accounting firm, and provide, audited financial statements for the Recipient’s fiscal year(s) covering any portion of the Term of this Agreement; or
(ii) provide to Destination BC a statement documenting its expenditure of the Financial Contribution under this Agreement, in form and content satisfactory to Destination BC.
8.02 Other than audited financial statements prepared by a recognized accounting firm, all financial statements or reports submitted by the Recipient must be certified by a senior officer of the Recipient’s organization (such as a Chief Executive Officer or Chief Financial Officer) attesting to the correctness and completeness of the financial information provided.
8.03 At the sole discretion of and as directed by Destination BC, any portion of the Financial Contribution provided to the Recipient under this Agreement and not expended at the end of the Term, including any Overpayment not set-off by Destination BC in accordance with section 3.04, must be:
(a) returned by the Recipient to Destination BC;
(b) retained by the Recipient as supplemental funding provided for under an amendment to this Agreement; or
(c) deducted by Destination BC from any future funding requests submitted by the Recipient and approved by Destination BC.
STATEMENTS AND ACCOUNTING. 8.01 Within 3 months of being requested to do so by the Province in writing, the University will provide to the Province a financial statement documenting the expenditure of the Financial Contribution under this Agreement.
8.02 At the sole option of the Province, any portion of the Financial Contribution provided to the University under this Agreement and not expended at the end of the Agreement shall be:
Option 1 returned by the University to the Minister of Finance as requested by the Province. retained by the University for supplemental research activities related to the Research Project.
Option 3 deducted by the Province from any future funding requests submitted by the University on behalf of the same Principal Investigator involved in performing the Research Project within [a defined time period] and approved by the Province. used to conduct additional research at the discretion of the University.
STATEMENTS AND ACCOUNTING. Where the Contractor is not a Health Authority, Municipality or Regional District, the Contractor must submit to the Province within three months of its fiscal year end:
STATEMENTS AND ACCOUNTING. 16.1 Regent shall keep records relating to its distribution of each Picture, which shall be kept on the same basis, in the same manner, at the same place and for the same period (but not less than the two-year incontestability period provided below) as such records are customarily kept by distributors in the film industry. The records will include records of Gross Receipts and all marketing expenses and distribution costs paid or received by Regent. Regent will render statements on a quarterly basis within sixty (60) days following the close of each calendar quarter during the Term. Statements rendered by Regent may be changed from time to time to include overlooked items, to correct errors and for similar purposes. Should Regent make any overpayment to Public for any reason, Regent shall have the right to include an amount equal to any such overpayment in Regent’s next invoice for commission or expenses (as the case may be) or may demand repayment from Public. Any monies due and payable to Public and/or Regent pursuant to any such statement shall be paid out of the Collection Account, subject to any laws and regulations requiring deductions or withholdings for income or other taxes payable by or assessable against Public. All statements will become incontestable two years after the date rendered except only as to any claim filed within the applicable time frame. Public shall have a customary right of audit (on reasonable advance notice, during regular business hours), by a certified public accountant or chartered accountant on its behalf, of Regent’s records relating to the Pictures (but not more than once annually) in order to verify the accuracy of the statements rendered by Regent hereunder. In the event any such audit shall reveal an underpayment by Regent, Regent shall immediately remedy the underpayment and if the underpayment is greater than twenty percent (20%) or US$20,000 (whichever is the lesser) in amounts which would have been payable to Public, then Regent will reimburse Public the expenses incurred in connection with such audit.
STATEMENTS AND ACCOUNTING. 8.01 Within 3 months of being requested to do so by the Province in writing, the University will provide to the Province a financial statement documenting the expenditure of the Financial Contribution under this Agreement.
8.02 At the sole option of the Province, any portion of the Financial Contribution provided to the University under this Agreement and not expended at the end of the Agreement shall be retained by the University for supplemental research activities related to the Research Project.
STATEMENTS AND ACCOUNTING. 9.01 The Project Holder will, at a time and in a format specified by the Province, provide to the Province a financial statement that details the Project Holder’s expenditure of the Financial Contribution or any portion of the Financial Contribution.
9.02 At the end of the Term or early termination of the Agreement, if applicable, the Project Holder will immediately repay to the Province any amount of the Financial Contribution paid to the Project Holder that is not expended by the Project Holder or that exceeds the amount to which the Project Holder is entitled under the Agreement. Any such amount is a debt due and owing to the Province for which the Project Holder is liable and that the Province may recover by any means available to the Province at law or in equity.
9.03 The Province may deduct, retain or set-off from or against any amount payable to the Project Holder by the Province under this Agreement, any amount due and owing by the Project Holder to the Government of Canada or the Province during the Term.
STATEMENTS AND ACCOUNTING. 11.01 The First Nation must, on its own or through a School Authority, establish and maintain accounting and administrative records in the form and content satisfactory to the Province, to be used as the basis for the calculation of the payment under section 6.01.
11.02 To satisfy the Ministry's responsibilities under the Financial Administration Act, RSBC c. 138, the First Nation will cooperate with the Province to demonstrate that funds paid under this Agreement are being used for the purposes of this Agreement and to ensure that the School is claiming enrolment in a correct and consistent manner.
STATEMENTS AND ACCOUNTING. 7.01 Within 3 months of being requested to do so by the Province, the Recipient will:
(a) provide to the Province audited financial statement(s) for the Recipient’s last fiscal year, covering the term of this Agreement.
7.02 At the sole option of the Province, any portion of the Financial Contribution provided to the Recipient under this Agreement and not expended at the end of the Term shall be:
(a) returned by the Recipient to the Minister of Finance;
(b) retained by the Recipient as supplemental funding provided for under an amendment to this Agreement; or
(c) deducted by the Province from any future funding requests submitted by the Recipient and approved by the Province.
STATEMENTS AND ACCOUNTING. 5.01 Semi-Annual Accounting Statements as to all monies payable to Owner and Writer hereunder shall be sent to Owner, at its address as provided herein by Administrator, semi-annually within ninety (90) days after January 31st and July 31st of each year. Statements shall be accompanied by all monies shown by such statement to be due and shall include copies of statements from all third parties who account and report to the Administrator. Owner, or its duly authorized representative, may at its own expense and at reasonable intervals, not more frequently than once per calendar year, inspect and/or audit the books of Administrator pertaining to the Compositions during the Administrator's usual business hours and upon reasonable notice, provided that such examination shall, with respect to any one statement, only be permitted once, and only within two (2) years of receipt of such statement by Artist and furthermore, unless Artist commences an action by delivering and serving a statement of claim within one (1) year of such notification, Artist will be barred from bringing an action or lawsuit on Company with respect to such statement.
STATEMENTS AND ACCOUNTING. Within 15 days of the delivery of a written demand from the Ministry, the Recipient will provide the Ministry with such current information and documents with respect to the Recipient’s operations and activities utilizing this funding and the costs that the funding is supporting and activities, including the invoices, documents, statements and reports.
