Financial management and control definition

Financial management and control means the comprehensive internal control system that is established by and is the responsibility of the head of the entity, and which, together with risk management, provides reasonable assurances that the Budget and other public funds will be used properly, economically, efficiently and effectively in the accomplishment of relevant objectives of the entity.
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Examples of Financial management and control in a sentence

  • Financial management and control of CDBG-DR funds is the sole responsibility of the subrecipient that accepts the funds.

  • Financial management and control of CDBG-MIT funds is the responsibility of the Grantee/Subrecipient that accepts the funds.

  • Further information related to the eligibility of expenditure can be found in Factsheet 2F - Financial management and control.

  • Financial management and control (FMC) in public bodies has improved with the appointment of additional FMC managers at national level and in municipalities, the pilot establishment of FMC systems in selected ministries, and various training activities.

  • Financial management and control has proved a good process of review and assurance in implementation of legislation and other control processes.

  • Financial management and control activities mandated by the PAL include policies and procedures, implemented by the MoF and MEHE.

  • Financial management and control should prove a good process of review and assurance in the implementation of legislation and other control processes.

  • It was also defined as a comprehensive package that covers financial structures, resource allocation, strategic financial planning; Managing budgets, costing and pricing, financial control and audit (Financial management and control in Higher Education, Prowel and Morgan 2005).

  • Detailed information about the eligibility of costs, the methods for calculation and programme specific rules is available in the URBACT III Programme Manual, Fact Sheet 2F - Financial management and control.

  • Financial management and control have proven a good review and assurance process in implementing financial management and control requirements in all areas.

Related to Financial management and control

  • Financial Management Manual means the manual dated June 2009, adopted by the Project Implementing Entity for the purpose of implementing and monitoring the financial management aspects of the Project.

  • Appraisal management services means one or more of the following:

  • Public Finance Management Act ’ means the Public Finance Management Act, 1999 (Act No. 1 of 1999);

  • Case management services means planned referral, linkage, monitoring and support, and advocacy provided in partnership with a consumer to assist that consumer with self sufficiency and community tenure and take place in the individual’s home, in the community, or in the facility, in accordance with a service plan developed with and approved by the consumer and qualified staff.

  • Management Group means at any time, the Chairman of the board of directors, the Chief Executive Officer, the President, any Managing Director, Executive Vice President, Senior Vice President or Vice President, any Treasurer and any Secretary of Holdings or other executive officer of Holdings or any Subsidiary of Holdings at such time.

  • Asset Management Plan means a strategic document that states how a group of assets are to be managed over a period of time. The plan describes the characteristics and condition of infrastructure assets, the levels of service expected from them, planned actions to ensure the assets are providing the expected level of service, and financing strategies to implement the planned actions. The plan may use any appropriate format, as long as it includes the information and analysis required to be in a plan as described in Ontario’s Building Together: Guide for Asset Management Plans.

  • Asset Management is a principle/practice that includes planning processes, approaches, plans, or related documents that support an integrated lifecycle approach to the effective stewardship of infrastructure assets to maximize benefits and effectively manage risk.

  • Investment Management Services means any services which involve: (i) the management of an investment account or Fund (or portions thereof or a group of investment accounts or Funds); (ii) the giving of advice with respect to the investment and/or reinvestment of assets or funds (or any group of assets or funds); or (iii) otherwise acting as an “investment adviser” within the meaning of the Investment Advisers Act of 1940, as amended, including, without limitation, in each of the foregoing cases, performing activities related or incidental thereto.

  • Environmental Management Framework or “EMF” means the policy framework for environmental management, approved by the Project Implementing Entity’s Board of Directors on July 21, 2009, which sets forth the environmental policies and procedures that shall apply to the carrying out of the Project.

  • Procurement Management means the Director of Lee County’s Procurement Management Department or designee.

  • Utilization management section means “you or your authorized representative.” Your representative will also receive all notices and benefit determinations.

  • UCITS management company means a management company as defined in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)1;

  • energy management system means a set of interrelated or interacting elements of a plan which sets an energy efficiency objective and a strategy to achieve that objective;

  • Case management means a care management plan developed for a Member whose diagnosis requires timely coordination. All benefits, including travel and lodging, are limited to Covered Services that are Medically Necessary and set forth in the EOC. KFHPWA may review a Member's medical records for the purpose of verifying delivery and coverage of services and items. Based on a prospective, concurrent or retrospective review, KFHPWA may deny coverage if, in its determination, such services are not Medically Necessary. Such determination shall be based on established clinical criteria and may require Preauthorization.

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • Financial Crime Risk Management Activity means any action to meet Compliance Obligations relating to or in connection with the detection, investigation and prevention of Financial Crime that the Bank or members of the HSBC Group may take.

  • Environmental Management Plan or “EMP” means the environmental management plan for the Project, including any update thereto, incorporated in the IEE;

  • Financial Services Provider means any Lender and any other provider of financial services or products;

  • Project Management Plan means the portion of the Project Development Plan providing the information requested in Section 4.2 of Exhibit B to the ITP.

  • Appraisal management company means, in connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party that oversees a network or panel of more than fifteen certified or licensed appraisers in this state or twenty-five or more nationally within a given year, that is authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter or other principal in the secondary mortgage markets that engages in appraisal management services.

  • Portfolio Management Services means management of the investment and reinvestment of the assets belonging to the Series, consisting specifically of the following:

  • Project Management The individuals appointed by each Party cf. clause 4.1 in the Agreement.

  • Environmental and Social Management Framework or “ESMF” means the framework included in the EA setting out modalities to be followed in assessing the potential adverse environmental and social impact associated with activities to be implemented under the Project, and the measures to be taken to offset, reduce, or mitigate such adverse impact.

  • Security Management Plan means the Supplier's security management plan prepared pursuant to paragraph 3 of schedule 2 an outline of which is set out in paragraph 2.7 of the Order Form as updated from time to time;

  • Best Management Practices (BMPs means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the state. BMPs also include treatment requirements, operating procedures, and practices to control site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.