Financial Controls. At all times, the Charter School shall maintain appropriate governance and managerial procedures and financial controls which procedures and controls shall include, but not be limited to: (1) commonly accepted accounting practices and the capacity to implement them (2) a checking account; (3) adequate payroll procedures; (4) procedures for the creation and review of monthly and quarterly financial reports, which procedures shall specifically identify the individual who will be responsible for preparing such financial reports in the following fiscal year; (5) internal control procedures for cash receipts, cash disbursements and purchases; and (6) maintenance of asset registers and financial procedures for grants in accordance with applicable state and federal law.
Financial Controls. Recovery of allowable and allocable indirect costs and maintenance and payment of operating expenses must comply with ICSUAM §13680. CCR tit. 5, §42502(g) and (h).
Financial Controls. The Company and its Controlled Entities maintain systems of “internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the supervision of, their respective principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles in the United States (“US GAAP”). The Company and its Controlled Entities maintain internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as disclosed in each of the Registration Statement, the Time of Sale Information and the Prospectus, there are no material weaknesses or significant deficiencies in the Company’s internal controls.
Financial Controls. The NDRC NOFA requires that any party involved in the CDBG-NDR projects, whether directly or indirectly, must agree to provide any information RISE requires in order to maintain proficient financial controls.
Financial Controls. Capital shall establish and maintain a system of financial controls for the Facility.
Financial Controls. Subscriber accepts sole responsibility for accounting and other financial control policies (and fidelity bonding requirements) applicable to Worksite Employees or their conduct.
Financial Controls. Manager will ensure such control over accounting and financial transactions as is reasonably required to protect Owner’s assets from theft, negligence or fraudulent activity on the part of Manager’s employees or other agents. Uninsured losses arising from theft, gross negligence or fraud of Manager, its employees or agents are to be borne by Manager in its individual capacity and not as an operating expense of the Property.
Financial Controls. Manager will perform its accounting responsibilities in compliance with GE Capital’s internal accounting policies and U.S. GAAP. • Manager will maintain accounting polices currently in place and all changes to accounting policies must be approved in advance by GE Capital. For new accounting standards, GE Capital will provide Manager with the accounting policy to be adopted by the Company. • Manager will perform accounting in accordance with FAS 133 and obtain approval from GE Capital for the following FAS 133 activities: • Changes to existing hedge documentation • Changes in existing methodology used to assess and measure hedge effectiveness • Application of “fair value” hedging as defined in FAS 133 • Economic xxxxxx that do not qualify for FAS 133 hedge treatment • Manager will provide a monthly variance analysis of: • Changes in the fair market value of derivatives • Hedge ineffectiveness • Amounts excluded from the measure of effectiveness • Manager will reconcile all general ledger accounts in accordance with GE Capital’s account reconciliation criteria. Manager will provide a quarterly dashboard of account reconciliations and open items (in an agreed upon format) on dates to be provided to Manager. • Manager is responsible for establishing and maintaining a system of internal controls adequate to ensure that Assets are appropriately safeguarded and that the financial statements and related disclosures and schedules fairly present the financial condition of the Company. • Manager and GE Capital will agree upon and execute a plan to minimize profit and loss volatility associated with FAS 133. • Manager will deliver monthly unaudited financial results including any adjustments to the monthly financials to be included in the next month’s accounting period. These financials should include an explanation of significant items of variance to the Operating Plan. Such financial statements will be delivered within fifteen 15 days of the close as defined by GE Capital. • Manager will deliver quarterly unaudited financial reports and schedules in accordance with GE Capital’s closing instructions. Such financials statement will include variance and profitability analysis suitable for the closing of the books. Closing instruction to be provided by the 15th of the month of the quarterly close. • Manager will provide the Company with financial projections in accordance with GE Capital’s SI, SII and OP process. GE Capital will provide the Manager with SI, SII and OP t...
Financial Controls. (a) Borrower has maintained a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, and to maintain accountability for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Financial Controls. The NDRC NOFA requires that any party involved in the CDBG-NDR projects, whether directly or indirectly, must agree to provide any information HCD requires in order to maintain proficient financial controls; on a project costing over $100 million, the magnitude of such controls will be wide and varying. HCD has developed a Grant Management Manual (“GMM”) for CDBG-NDR funding and by executing this Agreement, RCAC commits to using the manual as guidance in completing fiscal reports and maintaining accounting records.
