Common use of Financial Administration Clause in Contracts

Financial Administration. Artist and her/his subcontractors at any tier shall establish and maintain records pertaining to the fiscal activities of the Project. Artist and subcontractors’ accounting systems shall conform to generally accepted accounting principles. All such records shall provide, as a minimum, a breakdown of total costs charged to the Project, including properly executed payrolls, time records, invoices and vouchers.

Financial Administration. Artist and her/his Artist’s subcontractors at any tier shall establish and maintain records pertaining to the fiscal activities of the Project. Artist and subcontractors’ accounting systems shall conform to generally accepted accounting principles. All such records shall provide, as a minimum, a breakdown of total costs charged to the Project, including properly executed payrolls, time records, invoices and vouchers.