Common use of Fiscal Responsibilities Clause in Contracts

Fiscal Responsibilities. An affiliate chapter shall maintain responsible fiscal management policies and practices that must include the following: (1) Develop and establish a budget for annual fiscal operations. (2) Conduct an annual audit or review of fiscal operations. (3) Establish and maintain its own tax preparation and tax payment procedures to be implemented at the close of each fiscal year. (4) Upon determination of any financial problems, notify CSHP immediately in writing. (5) Comply with fiscal responsibility provisions of the affiliate chapter bylaws.

Fiscal Responsibilities. An affiliate chapter shall maintain responsible fiscal management policies and practices that must include the following: (1) Develop and establish a budget for annual fiscal operations. (2) Conduct an annual audit or review of fiscal operations. (3) Establish and maintain its own tax preparation and tax payment procedures to be implemented at the close of each fiscal year. (4) Upon determination of any financial problems, notify CSHP immediately in writing. (5) Comply with fiscal responsibility provisions of the affiliate Regional chapter bylawsBylaws.