Examples of Accounting Report in a sentence
In the event the Final Accounting Report indicates Construction Manager is due less than amounts requested in its final Application for Payment or Owner otherwise withholds amounts, including because of purported failure of the Work to conform to the Contract Documents’ requirements or due to unresolved Claims, and Construction Manager disagrees with any such nonpayment, Construction Manager shall have a Claim and shall proceed in accordance with Article 12 of the General Conditions.
However, notwithstanding the foregoing, if the Final Accounting Report indicates Owner’s previous payments made on account of the applicable Deliverable Portion of Work exceed the total amount due Construction Manager for that Work, Construction Manager shall reimburse Owner within thirty (30) Days of such determination with interest at the rate set forth in Section 14.2 of the General Conditions.
However, notwithstanding the foregoing, if the Final Accounting Report indicates Owner’s previous payments made on account of the applicable Deliverable Portion of Work exceed the total amount due Design-Builder for that Work, Design-Builder shall reimburse Owner within thirty (30) Days of such determination with interest at the rate set forth in Section 14.2 of the General Conditions.
Audit Objective – Determine if the Final Accounting Report submitted to DPS accurately reports total actual revenues and expenditures for the funding period covered by the report.
The Final Accounting Report requires an electronic signature by the program manager, the program fiscal office and the county finance officer/director by the established deadline.