CREDIT LEDGER Sample Clauses

CREDIT LEDGER. For each Service Area MARS will maintain a Credit Ledger to account for all credit transactions including issuance of advance credits to MARS, the sale of advance or certified credits to permit applicants, the release of advance credits, and the certification of additional credits. The Credit Ledger template is shown in Exhibit E. MARS will compile an annual Credit Ledger report for the District Engineer that will include the beginning and ending balance of advance, released, and certified credits, permitted impacts by resource type for which the ILF program will offset compensatory mitigation requirements, all additions and subtractions of credits and any other changes in credit availability. The ledger will contain basic information about each impact site for which the ILF Program is providing mitigation and about each compensatory mitigation project, including the amount of compensation being provided by each mitigation method and aquatic resource type. Debits and credits will be associated with unique identifiers in the accounting system and ledger. For permitted impact debits, the unique identifier will be the Corps’ permit number for the project. For compensatory mitigation project credits, the unique identifier will be a unique project name or number issued for each compensatory mitigation project.