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Our financial management system has the following attributes: \u2022 Account numbers identifying allowable direct, indirect, and unallowable cost accounts; \u2022 Ability to accumulate and segregate allowable direct, indirect, and unallowable costs into separate cost accounts; \u2022 Ability to accumulate and segregate allowable direct costs by project, contract and type of cost; \u2022 Internal controls to maintain integrity of financial management system; \u2022 Ability to account and record costs consistently and to ensure costs billed are in compliance with FAR; \u2022 Ability to ensure and demonstrate costs billed reconcile to general ledgers and job costing system; and \u2022 Ability to ensure costs are in compliance with contract terms and federal and state requirement Cost Reimbursements on Contracts: I also understand that failure to comply with 48 CFR Part 16.301-3 or knowingly charge unallowable costs to Federal-Aid Highway Program (FAHP) contracts may result in possible penalties and sanctions as provided by the following: \u2022 Sanctions and Penalties - 23 CFR Part 172.11(c)(4) \u2022 False Claims Act - Title 31 U.S.C. Sections 3729-3733 \u2022 Statements or entries generally - Title 18 U.S.C. Section 1001 \u2022 Major Fraud Act - Title 18 U.S.C. Section 1031 \u2022 Total participation amount $ on all State and FAHP contracts for Architectural & Engineering services that the consultant received in the last three fiscal periods. \u2022 The number of states in which the consultant does business is . \u2022 Years of consultant\u2019s experience with 48 CFR Part 31 is . \u2022 Audit history of the consultant\u2019s current and prior years (if applicable) \u2610 Cognizant ICR Audit \u2610 Local Gov\u2019t ICR Audit \u25a1 Caltrans ICR Audit \u2610 CPA ICR Audit \u2610 Federal Gov\u2019t ICR Audit I, the undersigned, certify all of the above to the best of my knowledge and belief and that I have reviewed the Indirect Cost Rate Schedule to determine that any costs which are expressly unallowable under the Federal cost principles have been removed and comply with Title 23 U.S.C. Section 112(b)(2), 48 CFR Part 31, 23 CFR Part 172, and all applicable state and federal rules and regulations. I also certify that I understand that all documentation of compliance must be retained by the consultant. I hereby acknowledge that costs that are noncompliant with the federal and state requirements are not eligible for reimbursement and must be returned to Caltrans. Name**: _ Title**: Signature: Email**: Date of Certification (mm/dd/yyyy): Phone Number**: **An individual executive or financial officer of the consultant\u2019s or subconsultant\u2019s organization at a level no lower than a Vice President, a Chief Financial Officer, or equivalent, who has authority to represent the financial information used to establish the indirect cost rate. Note: Both prime and subconsultants as parties of a contract must complete their own Exhibit 10-K forms. Caltrans will not process local agency\u2019s invoices until a complete Exhibit 10-K form is accepted and approved by Caltrans Audits and Investigations.", "size": 7, "samples": [{"hash": "2BtH4mO8JeY", "uri": "/contracts/2BtH4mO8JeY#financial-management-system", "label": "Professional Services", "score": 31.8235514119, "published": true}, {"hash": "5VpuYoDenwO", "uri": "/contracts/5VpuYoDenwO#financial-management-system", "label": "Professional Services", "score": 31.5197036105, "published": true}, {"hash": "5djKRSMF1Xy", "uri": "/contracts/5djKRSMF1Xy#financial-management-system", "label": "Professional Services", "score": 30.7997759369, "published": true}], "hash": "57f2e48145542a5d7373c9eba0b37925", "id": 8}, {"snippet_links": [{"key": "prior-to", "type": "definition", "offset": [0, 8]}, {"key": "receipt-of", "type": "clause", "offset": [9, 19]}, {"key": "grant-funds", "type": "definition", "offset": [20, 31]}, {"key": "the-grantee", "type": "definition", "offset": [33, 44]}, {"key": "place-an", "type": "definition", "offset": [59, 67]}, {"key": "to-ensure", "type": "clause", "offset": [115, 124]}, {"key": "effective-control", "type": "clause", "offset": [125, 142]}, {"key": "funds-received", "type": "definition", "offset": [175, 189]}, {"key": "accounting-records", "type": "clause", "offset": [191, 209]}, {"key": "source-documentation", "type": "definition", "offset": [231, 251]}, {"key": "time-sheets", "type": "clause", "offset": [260, 271]}, {"key": "financial-status-report", "type": "definition", "offset": [288, 311]}], "snippet": "Prior to receipt of grant funds, the Grantee shall have in place an overall financial management system sufficient to ensure effective control over and accountability for all funds received. Accounting records must be supported by source documentation such as time sheets and invoices. A financial status report will be included in the Status Report submitted each quarter.", "size": 6, "samples": [{"hash": "jdcY1gOB1A8", "uri": "/contracts/jdcY1gOB1A8#financial-management-system", "label": "Grant Agreement (Zynerba Pharmeceuticals, Inc.)", "score": 24.492128679, "published": true}, {"hash": "dXe53izHyBR", "uri": "/contracts/dXe53izHyBR#financial-management-system", "label": "Grant Agreement (Zynerba Pharmeceuticals, Inc.)", "score": 24.492128679, "published": true}, {"hash": "1VIxXOYiha2", "uri": "/contracts/1VIxXOYiha2#financial-management-system", "label": "Grant Agreement (Zynerba Pharmeceuticals, Inc.)", "score": 24.492128679, "published": true}], "hash": "244536287e777612a1a071a930569829", "id": 9}, {"snippet_links": [{"key": "responsible-for", "type": "clause", "offset": [23, 38]}, {"key": "provide-for", "type": "clause", "offset": [104, 115]}, {"key": "federal-awards", "type": "definition", "offset": [160, 174]}, {"key": "federal-programs", "type": "clause", "offset": [205, 221]}, {"key": "federal-award-identification-number", "type": "clause", "offset": [359, 394]}, {"key": "through-entity", "type": "definition", "offset": [455, 469]}, {"key": "disclosure-of", "type": "clause", "offset": [514, 527]}, {"key": "financial-results", "type": "clause", "offset": [532, 549]}, {"key": "funded-agreements", "type": "clause", "offset": [605, 622]}, {"key": "in-accordance-with", "type": "definition", "offset": [655, 673]}, {"key": "reporting-requirements", "type": "clause", "offset": [678, 700]}, {"key": "cfr-200", "type": "clause", "offset": [716, 723]}, {"key": "the-source", "type": "clause", "offset": [783, 793]}, {"key": "application-of-funds", "type": "clause", "offset": [798, 818]}, {"key": "pertaining-to", "type": "definition", "offset": [885, 898]}, {"key": "grant-awards", "type": "definition", "offset": [899, 911]}, {"key": "and-authorizations", "type": "clause", "offset": [912, 930]}, {"key": "unobligated-balances", "type": "clause", "offset": [945, 965]}, {"key": "and-interest", "type": "clause", "offset": [996, 1008]}, {"key": "source-documentation", "type": "definition", "offset": [1031, 1051]}, {"key": "accounting-controls", "type": "definition", "offset": [1079, 1098]}, {"key": "all-funds", "type": "clause", "offset": [1129, 1138]}, {"key": "other-assets", "type": "definition", "offset": [1154, 1166]}, {"key": "grantee-must", "type": "clause", "offset": [1172, 1184]}, {"key": "authorized-purposes", "type": "definition", "offset": [1263, 1282]}, {"key": "budgeted-amounts", "type": "definition", "offset": [1321, 1337]}, {"key": "cost-categories", "type": "definition", "offset": [1352, 1367]}, {"key": "attachment-b", "type": "definition", "offset": [1371, 1383]}, {"key": "approved-project-budget", "type": "definition", "offset": [1386, 1409]}, {"key": "financial-information", "type": "definition", "offset": [1430, 1451]}, {"key": "the-production", "type": "clause", "offset": [1501, 1515]}, {"key": "cost-information", "type": "definition", "offset": [1524, 1540]}, {"key": "accounting-records", "type": "clause", "offset": [1545, 1563]}, {"key": "written-procedures", "type": "definition", "offset": [1611, 1629]}, {"key": "transfer-of-funds", "type": "clause", "offset": [1674, 1691]}, {"key": "the-requirements", "type": "clause", "offset": [1796, 1812]}, {"key": "the-provisions-of", "type": "clause", "offset": [1942, 1959]}, {"key": "state-and-federal-requirements", "type": "clause", "offset": [1960, 1990]}, {"key": "subpart-e", "type": "definition", "offset": [2017, 2026]}, {"key": "cost-principles", "type": "clause", "offset": [2042, 2057]}, {"key": "federal-agency-regulations", "type": "clause", "offset": [2075, 2101]}, {"key": "grants-and-agreements", "type": "clause", "offset": [2106, 2127]}, {"key": "federal-law", "type": "definition", "offset": [2196, 2207]}, {"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [2217, 2255]}, {"key": "execution-of-this-agreement", "type": "clause", "offset": [2263, 2290]}, {"key": "accounting-system", "type": "clause", "offset": [2336, 2353]}, {"key": "the-standards", "type": "definition", "offset": [2360, 2373]}, {"key": "accumulation-of", "type": "clause", "offset": [2503, 2518]}, {"key": "as-required-by", "type": "clause", "offset": [2525, 2539]}, {"key": "adequate-documentation", "type": "definition", "offset": [2575, 2597]}, {"key": "costs-charged", "type": "clause", "offset": [2609, 2622]}, {"key": "to-this-agreement", "type": "clause", "offset": [2623, 2640]}, {"key": "require-the", "type": "clause", "offset": [2678, 2689]}, {"key": "submission-of", "type": "clause", "offset": [2690, 2703]}, {"key": "statement-of", "type": "clause", "offset": [2706, 2718]}, {"key": "not-required", "type": "definition", "offset": [2848, 2860]}, {"key": "for-financial-assistance", "type": "clause", "offset": [2981, 3005]}, {"key": "at-any-time", "type": "clause", "offset": [3039, 3050]}, {"key": "the-award", "type": "clause", "offset": [3065, 3074]}, {"key": "does-not-meet", "type": "definition", "offset": [3131, 3144]}, {"key": "additional-information", "type": "definition", "offset": [3202, 3224]}, {"key": "the-agreement", "type": "clause", "offset": [3236, 3249]}, {"key": "by-the-department", "type": "clause", "offset": [3266, 3283]}, {"key": "to-the-grantee", "type": "definition", "offset": [3304, 3318]}], "snippet": "A. The Granteeshall be responsible for maintaining an adequate financial management system, which shall provide for:\n1. Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received. Federal program and Federal award identification must include, as applicable, the CFDA title and number, Federal award identification number and year, name of the Federal agency, and name of the pass- through entity, if any.\n2. Accurate, current, and complete disclosure of the financial results of each project, agreement, or contract. For Federally-funded agreements, such disclosures shall be made in accordance with the reporting requirements set forth in 2 CFR 200.327 and 2 CFR 200.328.\n3. Records that adequately identify the source and application of funds for Department-supported activities, and that contain information pertaining to grant awards and authorizations, obligations, unobligated balances, assets, expenditures, income and interest, and are supported by source documentation.\n4. Effective internal and accounting controls over, and accountability for, all funds, property, and other assets. The Grantee must adequately safeguard all such assets and assure that they are used solely for authorized purposes.\n5. Comparison of actual outlays with budgeted amounts for all major cost categories on Attachment B - Approved Project Budget, and correlation of financial information with performance or productivity data, including the production of unit cost information.\n6. Accounting records that are supported by source documentation.\n7. Written procedures that minimize the time elapsing between the transfer of funds from the Department and the disbursement by the Grantee and, for Federally-funded agreements, implement the requirements of 2 CFR 200.305.\n8. Written procedures for determining reasonableness, allowability, and allocability of costs, consistent with the provisions of State and Federal requirements, as applicable, including Subpart E of 2 CFR 200 \u2013 Cost Principles, the appropriate Federal Agency Regulations for Grants and Agreements and Federal Agency Regulations, whichever would be applicable under Federal law, and the terms and conditions of this agreement.\nB. By execution of this agreement, the Grantee warrants and certifies that its accounting system meets the standards set forth herein and, for Federally-funded agreements, is consistent with Subpart E of 2 CFR 200 \u2013 Cost Principles, supports the accumulation of costs as required by those principles, and provides for adequate documentation to support costs charged to this agreement. Notwithstanding, the Department may require the submission of a Statement of Adequacy of Accounting System, to be made as an attachment to this agreement. A Statement of Adequacy of Accounting System is is not required as part of thisagreement.\nC. The Department may review the adequacy of the financial management system of any applicant for financial assistance as part of a pre-award review or at any time subsequent to the award. If the Department determines that the Grantee\u2019s system does not meet the standards described in Subsection A of this Section, additional information to monitor the agreement may be required by the Department upon written notice to the Grantee.", "size": 6, "samples": [{"hash": "dzNl9LyyoGD", "uri": "/contracts/dzNl9LyyoGD#financial-management-system", "label": "Grant Agreement", "score": 32.1777621863, "published": true}, {"hash": "ic2SuwWD00g", "uri": "/contracts/ic2SuwWD00g#financial-management-system", "label": "Grant Agreement", "score": 22.3215324523, "published": true}, {"hash": "3fDGyUHVNyx", "uri": "/contracts/3fDGyUHVNyx#financial-management-system", "label": "Grant Agreement", "score": 20.546201232, "published": true}], "hash": "6abe2b8e713a22ac4fb4cdde2fd1f075", "id": 10}], "next_curs": "CmQSXmoVc35sYXdpbnNpZGVyY29udHJhY3RzckALEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiRmaW5hbmNpYWwtbWFuYWdlbWVudC1zeXN0ZW0jMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["expenditure-limit", "Expenditure Limit"], ["fiscal-accountability", "Fiscal Accountability"], ["compliance-monitoring", "Compliance Monitoring"], ["basic-obligations-of-the-provider-agency", "Basic Obligations of the Provider Agency"], ["patent-copyright-materials-proprietary-infringement", "Patent/Copyright Materials/Proprietary Infringement"]], "children": [["", ""], ["total-payment", "Total Payment"], ["electronic-billing-capacity", "Electronic Billing Capacity"], ["third-party-resource-requirements", "Third Party Resource Requirements"], ["general", "General"]], "size": 441, "title": "Financial Management System", "id": "financial-management-system", "related": [["financial-management", "Financial Management", "Financial Management"], ["network-management", "Network Management", "Network Management"], ["statewide-contract-management-system", "STATEWIDE CONTRACT MANAGEMENT SYSTEM", "STATEWIDE CONTRACT MANAGEMENT SYSTEM"], ["performance-management-system", "PERFORMANCE MANAGEMENT SYSTEM", "PERFORMANCE MANAGEMENT SYSTEM"], ["management-system", "Management System", "Management System"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": ["What minimum controls and reporting standards must the Financial Management System clause mandate?", "How can this clause be leveraged to ensure audit rights and transparency for all parties?", "What are the most common loopholes or weaknesses in Financial Management System clauses that could expose parties to risk?", "How do courts typically interpret and enforce obligations under Financial Management System provisions?", "How does this clause compare to industry-standard financial management requirements in similar agreements?"], "drafting_tip": "Specify required financial controls to ensure accountability, mandate regular audits to detect discrepancies, and define reporting obligations to promote transparency.", "explanation": "The Financial Management System clause establishes requirements for how financial records and transactions related to the agreement must be managed and maintained. Typically, it obligates one or both parties to use specific accounting practices, maintain accurate and up-to-date records, and possibly provide access to these records for audits or reviews. This clause ensures transparency and accountability in the handling of funds, reducing the risk of mismanagement or disputes over financial matters."}, "json": true, "cursor": ""}}