FINANCIAL MANAGEMENT SYSTEM STANDARDS Sample Clauses

FINANCIAL MANAGEMENT SYSTEM STANDARDS. The Recipient must have and maintain an established accounting system which complies with Generally Accepted Accounting Principles (GAAP) and accounting and internal control systems must provide for appropriate monitoring of award accounts to ensure that obligations and expenditures are reasonable, allocable, and allowable. In addition, the systems must be able to identify unobligated balances, accelerated expenditures, inappropriate cost transfers, and other inappropriate obligations and expenditures of funds, and Recipient must notify the NIH OTAO when problems are identified. The Recipient’s failure to establish adequate control systems constitutes a material breach of this Agreement and may result in the exercise of available enforcement remedies.
Sample 1
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FINANCIAL MANAGEMENT SYSTEM STANDARDS. For a subaward to other than a for-profit entity, your subaward must require the subrecipient to include the information specified in paragraph B.1 of FMS Article I in its financial management system, for the purposes of the non-federal audits required by paragraph 2.d of this section.
Sample 1
FINANCIAL MANAGEMENT SYSTEM STANDARDS. 4.1.1. CAP shall utilize financial management systems and additional controls as needed to meet the requirements of 2 C.F.R. § 200.302(b). Financial record retention shall be IAW 2 C.F.R. § 200.333, and the Program Manager and Grants Officer shall have access to financial information IAW 2 C.F.R. § 200.336.
Sample 1
FINANCIAL MANAGEMENT SYSTEM STANDARDS. The expenditures of all Head Start and Early Head Start program funds by the Delegate are required to be accounted for in accordance with proper accounting methods. The Delegate shall establish and maintain a consistent system of accounting and fiscal management to assure adequate internal controls that provide for timely, accurate, current and complete disclosure of financial information while providing for oversight and protection of federal funds that must meet the following minimum standards:
Sample 1

Related to FINANCIAL MANAGEMENT SYSTEM STANDARDS

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following:

  • Financial Management Standards The financial management systems of Grantee must meet the following standards:

  • Enterprise Information Management Standards Grantee shall conform to HHS standards for data management as described by the policies of the HHS Office of Data, Analytics, and Performance. These include, but are not limited to, standards for documentation and communication of data models, metadata, and other data definition methods that are required by HHS for ongoing data governance, strategic portfolio analysis, interoperability planning, and valuation of HHS System data assets.

  • Quality Management System Supplier hereby undertakes, warrants and confirms, and will ensue same for its subcontractors, to remain certified in accordance with ISO 9001 standard or equivalent. At any time during the term of this Agreement, the Supplier shall, if so instructed by ISR, provide evidence of such certifications. In any event, Supplier must notify ISR, in writing, in the event said certification is suspended and/or canceled and/or not continued.

  • Safety Standards Performance of the Contract for all commodities or contractual services must comply with requirements of the Occupational Safety and Health Act and other applicable State of Florida and federal requirements.

  • Financial Management (a) The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.09 of the Standard Conditions.

  • PERFORMANCE MANAGEMENT SYSTEM 5.1 The Employee agrees to participate in the performance management system that the Employer adopts or introduces for the Employer, management and municipal staff of the Employer.

  • Procurement Standards For projects being managed by the Local Government and on the State highway system or that include state funding, the Local Government must obtain approval from the State for its proposed procurement procedure for the selection of a professional services provider, a contractor for a construction or maintenance project, or a materials provider.

  • STATEWIDE CONTRACT MANAGEMENT SYSTEM If the maximum amount payable to Contractor under this Contract is $100,000 or greater, either on the Effective Date or at any time thereafter, this section shall apply. Contractor agrees to be governed by and comply with the provisions of §§00-000-000, 00-000-000, 00-000-000, and 00- 000-000, C.R.S. regarding the monitoring of vendor performance and the reporting of contract information in the State’s contract management system (“Contract Management System” or “CMS”). Contractor’s performance shall be subject to evaluation and review in accordance with the terms and conditions of this Contract, Colorado statutes governing CMS, and State Fiscal Rules and State Controller policies.

  • Financial Management Services ‌ Definition: Financial Management Services includes the planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. Examples: Service areas that are included under the Financial Management Services discipline include, but are not limited to the following:

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