Common use of General Management Clause in Contracts

General Management. The grantee is also required to execute projects, productions, workshops and programs in accordance with the requirements and regulations of the of National Endowment for the Arts' and/or the State of Vermont and related Executive Orders. The Grantee will manage and administer all operations of the project, such as procurement of facilities and material, publicity, collection of proceeds from sales of tickets or objects, and payment of all expenses. The Grantee is encouraged to use U.S. air carriers for foreign travel, and to purchase American-made products. When managing the project, the Grantee will adhere to the project budget described in the grant application or an amended budget approved by the Council. The Grantee's fiscal control and accounting procedures will ensure proper accounting for both grant and matching funds. Fiscal records will be utilized and maintained pursuant to Adequate Standards to permit an accurate audit, and will be open to review by the Council, Federal, or State government(s). Adequate Standards require that the Grantee: (a) maintain a bookkeeping system for recording receipts and disbursements; (b) distinguish Council grant transactions from other, unrelated transactions; (c) retain supporting documentation of transactions (including, but not limited to, invoices, cash reconciliations, records documenting in-kind matching contributions and the basis for determining their value, time sheets and other pertinent data) in conformity with the document retention requirements set forth in section 7.1; and (d) prepare financial reports to be submitted to the Council.

General Management. The grantee is also required to execute projects, productions, workshops and programs in accordance with the requirements and regulations of the of National Endowment for the Arts' Arts and/or the State of Vermont and related Executive Orders. The Grantee will manage and administer all operations of the project, such as procurement of facilities and material, publicity, collection of proceeds from sales of tickets or objects, and payment of all expenses. The Grantee is encouraged to use U.S. air carriers for foreign travel, and to purchase American-made products. When managing the project, the Grantee will adhere to the project budget described in the grant application or an amended budget approved by the Council. The Grantee's fiscal control and accounting procedures will ensure proper accounting for both grant and matching funds. Fiscal records will be utilized and maintained pursuant to Adequate Standards to permit an accurate audit, and will be open to review by the Council, Federal, or State government(s). Adequate Standards require that the Grantee: (a) maintain a bookkeeping system for recording receipts and disbursements; (b) distinguish Council grant transactions from other, unrelated transactions; (c) retain supporting documentation of transactions (including, but not limited to, invoices, cash reconciliations, records documenting in-kind matching contributions and the basis for determining their value, time sheets sheets, and other pertinent data) in conformity with the document retention requirements set forth in section 7.1; and (d) prepare financial reports to be submitted to the Council.