Common use of Project Accounting Clause in Contracts

Project Accounting. Project accounting shall include all sources of revenues and Project expenditures by budgeted expense category. The expense categories shall conform to the categories indicated in Appendix A and defined in Appendix E. If the amount of the funding is more than $300,000, the Recipient may be required to provide an independent project audit. The cost of an audit required by the department is an allowable project expense. Accounting for the Project shall comply with the Codification of Governmental Accounting and Financial Reporting Standards as published by the Governmental Accounting Standards Board (GASB).

Project Accounting. Project accounting shall include all sources of revenues and Project expenditures by budgeted expense category. The expense categories shall conform to the categories indicated in Appendix A and defined in Appendix E. If Any proposed change to the amount of the funding is more than $300,000, the Recipient may project budget and accounting must be required approved by an amendment to provide an independent project audit. The cost of an audit required by the department is an allowable project expensethis agreement. Accounting for the Project shall comply with the Codification of Governmental Accounting and Financial Reporting Standards as published by the Governmental Accounting Standards Board (GASB).