Accountability for Funds Clause Samples
The "Accountability for Funds" clause establishes the obligation of a party to properly manage, track, and report on the use of funds provided under an agreement. Typically, this clause requires the recipient to maintain accurate financial records, provide periodic financial statements, and permit audits or reviews to ensure funds are used as intended. Its core function is to promote transparency and prevent misuse or misallocation of financial resources, thereby protecting the interests of the party providing the funds.
Accountability for Funds. 1. The Contractor shall maintain accounting records for funds received under the terms and conditions of this Agreement. These records shall be separate from those for any other funds administered by the Contractor and shall be maintained in accordance with Generally Accepted Accounting Principles and Procedures.
Accountability for Funds. A. The Grantee shall maintain accounting records for funds received under the terms and conditions of this Agreement. These records shall be separate from those for any other funds administered by the Grantee, and shall be maintained in accordance with Generally Accepted Accounting Principles and Procedures.
Accountability for Funds. 1. The Contractor shall maintain accounting records for funds received under the terms and conditions of this Agreement. These records shall be separate from those for any other funds administered by the Contractor, and shall be maintained in accordance with Generally Accepted Accounting Principles and Procedures and the Office of Management and Budget’s (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for HHS Awards. [45 CFR 75]
Accountability for Funds. All funds shall be accounted for according to generally accepted government accounting principles.
Accountability for Funds. All funds in the MELSA library fund shall be accounted for according to generally accepted accounting principles. The Secretary/Treasurer shall report monthly to the Board on all receipts to and disbursements from the MELSA library fund and shall make it available to all Members and their library boards.
Accountability for Funds. All funds shall be strictly accounted for according to generally accepted accounting principles. The Operations Partner shall report to the Executive Board and Olmsted County monthly on all receipts and disbursements related to this Agreement; including, but not limited to, contributions from Sponsoring Agencies, third-party revenue, grant funds, and donations.
Accountability for Funds. 1. The Subgrantee shall maintain accounting records for funds received under the terms and conditions of this Agreement. These records shall be separate from those for any other funds administered by the Subgrantee, and shall be maintained in accordance with Generally Accepted Accounting Principles and Procedures and the Office of Management and Budget’s (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for HHS Awards. [45 CFR 75] ARTICLE I. FUNDS (Continued)
Accountability for Funds. All funds shall be strictly accounted for according to generally accepted accounting principles. Anoka County shall report to the Advisory Board at least annually on all receipts and disbursements related to this Agreement.
Accountability for Funds. Audit Requirement - Local Government or Public Authority Requirements Local Government or Public Authorities in accordance with N.C.G.S. § 159-34 must have an audit performed in conformity with generally accepted auditing standards. The audit shall evaluate the performance of a unit of local government or public authority regarding compliance with all applicable Federal and State agency regulations. This audit, combined with the audit of financial accounts, shall be deemed to be the single audit described by the "Federal Single Audit Act of 1984".
Accountability for Funds. The Trustee shall not be accountable for the use of any of the proceeds of such Bonds except the portion thereof deposited with the Trustee, and the Trustee shall not be liable for any loss from the investment (made in accordance with the terms of this Indenture) of any funds it holds pursuant to this Indenture.