Common use of FINANCIAL PROTOCOLS Clause in Contracts

FINANCIAL PROTOCOLS. 7.4.1 The Lead Authority will be responsible for managing the NRSP Budget 7.4.2 Where expenditure has been previously agreed by the NRSP Members to be incurred by a Local Authority NRSP Member (s),in order to advance an activity agreed in accordance with the purposes of the NRSP, the NRSP Member must provide evidence of completion of the works or activity undertaken together with financial statements or invoices to the Treasurer in respect of this NRSP expenditure within a month of the end of each quarter. 7.4.3 Copies of all invoices and receipts evidencing expenditure incurred in respect of the NRSP must be forwarded to the Treasurer. The Project Manager or the Treasurer can ask for additional information to support expenditure claims. 7.4.4 The Treasurer will reimburse any Local Authority NRSP Member for expenditure claims that are supported with satisfactory information and documentation within 30 days of the claim. 7.4.5 Each Local Authority NRSP Member is responsible for maintaining records of expenditure that satisfy their own governance and internal controls and audit requirements. 7.4.6 The Treasurer will make available any information and documentation to support the NRSP’s income and expenditure to the NRSP auditor.