Management and Control Systems. Grantee will:
Management and Control Systems. Grantee will: ATTACHMENT E (REVISED AUGUST 2021)
Management and Control Systems. Performing Agency shall maintain an appropriate contract administration system to ensure that all Contract terms, conditions, and specifications are met. Performing Agency shall develop, implement, and maintain financial management and control systems that meet or exceed the requirements of TxGMS, and that adhere to the following requirements:
Management and Control Systems a) Contractor shall maintain an appropriate contract administration system to ensure that all terms, conditions, and specifications are met during the term of the contract through the completion of the closeout procedures.
Management and Control Systems. Contractor shall comply with all the requirements of the Department’s Contractor's Financial Procedures Manual, and any of its subsequent amendments, which is available at the Department’s web site: xxxx://xxx.xxxx.xxxxx.xx.xx/contracts/cfpm.shtm. Contractor shall maintain an appropriate contract administration system to ensure that all terms, conditions, and specifications are met during the term of the contract through the completion of the closeout procedures. Contractor shall develop, implement, and maintain financial management and control systems that meet or exceed the requirements of UGMS and adhere to procedures detailed in Department’s Contractor’s Financial Procedures Manual. Those requirements and procedures include, at a minimum, the following:
Management and Control Systems. Grantee will: ATTACHMENT E
Management and Control Systems. Grantee will:
1. Maintain an appropriate contract administration system to ensure that all terms, conditions, and specifications are met during the term of the contract through the completion of the closeout procedures.
2. Develop, implement, and maintain financial management and control systems that meet or exceed the requirements of Uniform Statewide Accounting System (UGMS). Those requirements and procedures include, at a minimum, the following:
i. Financial planning, including the development of budgets that adequately reflect all functions and resources necessary to carry out authorized activities and the adequate determination of costs;
ii. Financial management systems that include accurate accounting records that are accessible and identify the source and application of funds provided under each Contract of this Contract, and original source documentation substantiating that costs are specifically and solely allocable to a Contract and its Contract and are traceable from the transaction to the general ledger;
iii. Effective internal and budgetary controls;
iv. Comparison of actual costs to budget; determination of reasonableness, allowableness, and allocability of costs;
v. Timely and appropriate audits and resolution of any findings;
vi. Billing and collection policies; and
vii. Mechanism capable of billing and making reasonable efforts to collect from clients and third parties.
Management and Control Systems. Performing Agency will:
