FUND UTILISATION AND ACCOUNTING Sample Clauses

FUND UTILISATION AND ACCOUNTING. The Institute shall submit the Utilization Certificate (UC) and Statements of Expenses (SOE) duly audited by a Chartered Accountant(CA) for the expenditure incurred towards the Project for every half year period, ending 30th September and 31st March, to BIRAC, within a month of closure of the accounts for the respective half year, in the format provided by BIRAC. The CA shall also certify that there has been no change in the shareholding pattern and if there is any change, the particulars shall be specified. The Institute shall submit UC and SOE duly certified by Internal finance personnel to BIRAC in the format provided on the completion of the respective milestones . The Institute shall submit final consolidated UC and SoE duly certified by a CA/Auditor to BIRAC in the format provided on the completion of the project. The input credit for the expenditures incurred under the project out of Grant-in-aid shall be reported to BIRAC as a part of utilization certificate against the corresponding entry-“Amount of GST Input credit”. Such amount, if any, will be considered accordingly at the time of the release of the next installment. The Institute shall submit audited Annual reports along with audited balance sheets and profit & loss accounts to BIRAC within six months the completion of the financial year ending 31st March till the completion of the Project Duration. The Institute and Company shall submit audited Annual reports along with the audited balance sheets and profit & loss accounts to BIRAC within six months of the completion of the financial year ending 31st March till the completion of the Project Duration. The Institute shall duly submit the periodic Progress Report for the Project to BIRAC including the activities carried out by the company. The Institute shall keep the Grant-in-aid assistance n an interest bearing account with a Schedule Bank (as defined under the RBI Act, 1934), the withdrawals and payments from which account shall be subject to verification by BIRAC. The interest thus earned will be adjusted towards further installment of the fund. The interest earned on the Grant-in-aid should be reported to BIRAC. The interest thus earned on the grant in aid will be adjusted towards further installment of the fund. The Institute shall ensure that the funds released for the Project are actually utilized only for the purposes of the Project and as expressly provided for in this GLA. Re-appropriation of BIRAC funds from one budget head to anothe...
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FUND UTILISATION AND ACCOUNTING a. The Partner Incubator and the Institute shall submit the Utilization Certificate (UC) and Statements of Expenses (SOE) duly audited by a chartered accountant for the expenditure incurred towards the Project for every half year period.
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  • Commitment of Current Revenues Only In the event that, during any term hereof, the Commissioners Court does not appropriate sufficient funds to meet the obligations of County under this Agreement, County may terminate this Agreement upon ninety (90) days written notice to Company. County agrees, however, to use reasonable efforts to secure funds necessary for the continued performance of this Agreement. The parties intend this provision to be a continuing right to terminate this Agreement at the expiration of each budget period of County. Agreements for the acquisition, including lease of real or personal property under Tex. Loc. Govt. Code §271.903: In the event that, during any term hereof, the Commissioner’s Court does not appropriate sufficient funds to meet the obligations of County under this Agreement, County may terminate this Agreement upon ninety (90) days written notice to Company, County agrees, however, to use a best efforts attempt to obtain and appropriate funds for payment of the Agreement. The parties intend this provision, if applicable, to be a continuing right to terminate this at the expiration of each budget period of County in accordance with Tex. Loc. Govt. Code §271.903 (Xxxxxx Supp. 1996).

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