Common use of Accounting Records Clause in Contracts

Accounting Records. Unless otherwise agreed in writing by Administrator, SUBRECIPIENT shall maintain accounting records to account for all funds received under this CONTRACT. Said records shall be separate from the records for any other funds administered by SUBRECIPIENT, and shall be kept in accordance with generally accepted accounting principles and procedures. Said records must contain information pertaining to receipt of funds for the program(s) for which this CONTRACT provides, authorization to expend said funds, obligations, unobligated balances, assets, liabilities, outlays or expenditures, program income, contributions, and third-party revenue. Said accounting records must be supported by source documentation (such as cancelled checks, paid bills, payrolls, time and attendance records, CONTRACT and subcontract award documents, etc.), and adequate source documentation of each transaction shall be maintained relative to the allowability of expenditures under this CONTRACT. If the allowability of expenditures cannot be determined because records or documentation of SUBRECIPIENT are nonexistent or inadequate according to generally accepted accounting principles and procedures, the expenditures will be questioned in the audit and may be disallowed during the audit resolution process.

Accounting Records. Unless otherwise agreed in writing by AdministratorCOUNTY, SUBRECIPIENT CONTRACTOR shall maintain accounting records to account for all funds received under this CONTRACT. Said records shall be separate from the records for any other funds administered by SUBRECIPIENTCONTRACTOR, and shall be kept in accordance with generally accepted accounting principles and procedures. Said records must contain information pertaining to receipt of funds for the program(s) for which this CONTRACT provides, authorization to expend said funds, obligations, unobligated balances, assets, liabilities, outlays or expenditures, program income, contributions, and third-party revenue. Said accounting records must be supported by source documentation (such as cancelled checks, paid bills, payrolls, time and attendance records, CONTRACT and subcontract award documents, etc.), and adequate source documentation of each transaction shall be maintained relative to the allowability of expenditures under this CONTRACT. If the allowability of expenditures cannot be determined because records or documentation of SUBRECIPIENT CONTRACTOR are nonexistent or inadequate according to generally accepted accounting principles and procedures, the expenditures will be questioned in the audit and may be disallowed during the audit resolution process.

Accounting Records. Unless otherwise agreed in writing by AdministratorCOUNTY PROJECT MANAGER, SUBRECIPIENT CONTRACTOR shall maintain accounting records to account for all funds received under this CONTRACT. Said records shall be separate from the records for any other funds administered by SUBRECIPIENTCONTRACTOR, and shall be kept in accordance with generally accepted accounting principles and procedures. Said records must contain information pertaining to receipt of funds for the program(s) for which this CONTRACT provides, authorization to expend said funds, obligations, unobligated balances, assets, liabilities, outlays or expenditures, program income, contributions, and third-party revenue. Said accounting records must be supported by source documentation (such as cancelled checks, paid bills, payrolls, time and attendance records, CONTRACT and subcontract award documents, etc.), and adequate source documentation of each transaction shall be maintained relative to the allowability of expenditures under this CONTRACT. If the allowability of expenditures cannot be determined because records or documentation of SUBRECIPIENT CONTRACTOR are nonexistent or inadequate according to generally accepted accounting principles and procedures, the expenditures will be questioned in the audit and may be disallowed during the audit resolution process.

Accounting Records. Unless otherwise agreed in writing by AdministratorCOUNTY, SUBRECIPIENT shall maintain accounting records to account for all funds received under this CONTRACT. Said records shall be separate from the records for any other funds administered by SUBRECIPIENT, and shall be kept in accordance with generally accepted accounting principles and procedures. Said records must contain information pertaining to receipt of funds for the program(s) for which this CONTRACT provides, authorization to expend said funds, obligations, unobligated balances, assets, liabilities, outlays or expenditures, program income, contributions, and third-party revenue. Said accounting records must be supported by source documentation (such as cancelled checks, paid bills, payrolls, time and attendance records, CONTRACT and subcontract award documents, etc.), and adequate source documentation of each transaction shall be maintained relative to the allowability of expenditures under this CONTRACT. If the allowability of expenditures cannot be determined because records or documentation of SUBRECIPIENT are nonexistent or inadequate according to generally accepted accounting principles and procedures, the expenditures will be questioned in the audit and may be disallowed during the audit resolution process.

Accounting Records. Unless otherwise agreed in writing by Administrator, SUBRECIPIENT CONTRACTOR shall maintain accounting records to account for all funds received under this CONTRACT. Said records shall be separate from the records for any other funds administered by SUBRECIPIENTCONTRACTOR, and shall be kept in accordance with generally accepted accounting principles and procedures. Said records must contain information pertaining to receipt of funds for the program(s) for which this CONTRACT provides, authorization to expend said funds, obligations, unobligated balances, assets, liabilities, outlays or expenditures, program income, contributions, and third-party revenue. Said accounting records must be supported by source documentation (such as cancelled checks, paid bills, payrolls, time and attendance records, CONTRACT and subcontract award documents, etc.), and adequate source documentation of each transaction shall be maintained relative to the allowability of expenditures under this CONTRACT. If the allowability of expenditures cannot be determined because records or documentation of SUBRECIPIENT CONTRACTOR are nonexistent or inadequate according to generally accepted accounting principles and procedures, the expenditures will be questioned in the audit and may be disallowed during the audit resolution process.