Examples of PARSAC in a sentence
The Auditor/Controller shall cause an annual financial audit of the accounts and records to be prepared by a Certified Public Accountant in compliance with California Government Code Sections 6505 and 6505.5 or 6505.6 with respect to all receipts, disbursements, other transactions and entries into the books of PARSAC.
The officers of PARSAC shall be the President, Vice President, Treasurer, and Auditor/Controller, and their qualifications and duties shall be those set forth in the Bylaws.
The debts, liabilities or obligations of PARSAC shall not constitute debts, liabilities or obligations of any party to this Agreement.
The Board shall cause a biannual claims audit of the administration of the claims for each of the Programs of PARSAC.
PARSAC shall be responsible for the strict accountability of all funds and the reporting of all receipts and disbursements in accordance with generally accepted accounting principles.
The withdrawing member’s equity will remain with PARSAC until all years in which the member has participated are closed.
The Board shall cause an annual actuarial review to be prepared for each of the Programs of PARSAC and a report of such actuarial review shall be made available for inspection by the Board and the Member Entities.
Notices to Member Entities under this Agreement or the Bylaws shall be sufficient if mailed to their respective addresses on file with PARSAC.
Regardless of its three-year commitment under the Liability and/or Workers’ Compensation Program, a Member Entity may be expelled from PARSAC or a Program either with or without cause.
The Executive Committee shall set policy for and direct the administration of PARSAC on a day-to- day basis and may, without limitation, provide incentives and impose penalties, financial or otherwise, for performing or failing to perform in conformance with PARSAC requirements, programs, standards and policies.