Accounting Arrangements. 14.1 The Parties acknowledge that the costs of the Project may vary substantially from year to year, and agree to meet the actual costs of the Project as they become due.
Accounting Arrangements. 15.1 Accounting for Commonwealth environmental water use needs to satisfy a high level of public accountability and provide transparency in how water has been used, including its interaction with planned environmental water and water managed for other objectives. Discharging the CEWH’s statutory obligations for public reporting requires:
Accounting Arrangements. The Partnership Treasurer shall undertake the financial administration on behalf of the Partnership and shall be responsible for the exercise of proper financial control of the budget in accordance with good public administration accounting practice and its internal financial regulations. The Partnership Treasurer may recover a fee (to be agreed by the Executive Board in advance for each year of the Agreement) in consideration of it providing financial administration services on behalf of the Partnership. The Partnership Treasurer and the Police shall each maintain a separate account for the Partnership which shall show income/expenditure and capital/revenue separately. The Partners shall be entitled to receive full details of the accounts maintained by the Partnership Treasurer and the Police who shall each supply copies of the same to Partners upon request.
Accounting Arrangements. 6.1 Each Partner will create and maintain a clearly identifiable structure within its accounting system to enable effective monitoring and reporting of the Pooled Fund.
Accounting Arrangements. The City of Edinburgh Council has been nominated, and will assume the role of Partnership Treasurer and acting as the accountant for the Lothian and Borders Partnership collective. It will be responsible for receiving grants from the Scottish Programme Office and reallocating these to individual participants. The Partnership Treasurer will receive grant funding on a regular basis from the Scottish Programme Office based on its continuing performance against targets. Each participant is required to provide a detailed breakdown of expenditure incurred each period/month. This breakdown should be included with the invoice raised against the Partnership Treasurer. Participants will invoice the Partnership Treasurer on a period basis for their total expenditure in that period. On receipt of the invoice the Partnership Treasurer will reimburse the participant if there are sufficient funds available. If there are insufficient funds each participant will only be reimbursed on a pro rata basis based on the Operational Case cash flow projections. VAT is recoverable for participants if the service or asset is used exclusively for ‘Crown’ business. In this case each participant, except the Police, will invoice the Partnership Treasurer net of VAT with each individual participant being responsible for its own VAT recovery. The VAT rules governing the Police are different. The Police will continue to invoice inclusive of VAT, with the Partnership Treasurer claiming the VAT recovery. The Partnership Treasurer in conjunction with the Partnership Manager will exercise effective financial monitoring of the Partnership’s income and costs throughout the year to ensure the early detection of any potential deficit position at year-end. Appropriate corrective action will be taken to address a potential deficit and this may include:-
Accounting Arrangements. The States acknowledge that procedures satisfactory to both parties will be implemented to ensure that each State meets the agreed share of the final actual cost of the Project. The accounting and audit procedures implemented must satisfy the public accountability and administration requirements of each State for the funding of infrastructure.
Accounting Arrangements. 9.1 The Partnership Treasurer shall undertake the financial administration on behalf of the Partnership and shall be responsible for the exercise of proper financial control of the budget in accordance with good public administration accounting practice and its internal financial regulations.
Accounting Arrangements. 5.1 In determining the pooled budget arrangements the following factors have been considered
Accounting Arrangements. The PCT shall be responsible for the financial administration and accounting arrangements of the Pooled Fund. The PCT shall: maintain financial records in a format that will allow effective monitoring and reporting and completion and audit of performance returns and grant claims; provide information on a monthly basis [to the Council to enable the timely recover of VAT for purchases relating to the Services; and produce a memorandum of account at the end of each financial year for inclusion in the Council’s statutory accounts.
