Financial Control definition

Financial Control. Means the procedures and policies by which the Union monitors and controls the direction, allocation, and usage of its financial resources
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Financial Control shall have the meaning set forth in Section 3.2.
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Financial Control means any form of control relating to the management of public money and activities which is exercised by virtue of special powers and procedures, including budget control, financial inspection control, tax control, customs control.
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Examples of Financial Control in a sentence

  • Schedule 5 - Financial control matters, Anti-Bribery and Anti-Corruption Budget Schedule 3 to this Collaboration Agreement comprises each of the Collaborating Organisations’ budgets relating to the Project.

  • Financial control is foreseen in the form of periodic financial reports and bank statements exchanged between Balkan Federation and the Balkan Federation 2007 Congress Organising Committee on transactions and activities handled by each of the two parties denominated in this Letter of Agreement.

  • Financial control costs incurred by APUC include costs for audit services and tax services.

  • The NewProt Project Management will have the following tasks: • Management of communication • Organisation of meetings • Project reporting • Financial control and reporting Management of communication Intensive communication is instrumental for the success of a collaborative project.

  • The execution of the Task will comprise the following activities: [– Financial control and time management – Delegation of work – Status meetings and preparation of one or more reports] AU has appointed the following individuals to carry out the Task: [indicate name of individual and the department of AU at which the person is employed].

  • UA takes into account and agrees with the fact UA is obliged person within the meaning of Act No. 320/2001 on Financial control, as amended.

  • The Buyer is drawing the attention to the fact, that the by signing this agreement, the Seller becomes obliged to cooperate in the exercise of financial control in accordance with § 2 e) Act No. 320/2001 Coll., on Financial control.

  • The Financial Controller is responsible for: • Financial control and management of all Europeana Foundation projects and sponsorships • Correct time and financial reporting • Audit • Budget, Profit and Loss and Annual Reporting to the Europeana Foundation.

  • Financial control: The responsibility for overseeing the proper management of funds lies with the Swiss and Ukrainian Beneficiaries.


More Definitions of Financial Control

Financial Control. The responsibility for overseeing the proper management of funds lies with the “Swiss and Croatian PI”. The SNSF only checks the reports for the expenses contributed by Switzerland (86.91%), while the CSF is responsible for checking the Croatian contribution (13.09%). Subsequently, the SNSF and the CSF examine the financial reports of the whole JRP first in connection with the project progress and also on the basis of the supporting documents (receipts, reports, etc.) attached to the reports. The financial report must be accompanied by copies of receipts for any single expense. The accounting shall be done according to the approved budget categories (Annex A of the Grant Agreement). Rebates, discounts and the like shall be regarded as cost reductions and must be declared as such in the financial report. All reports must be written in English.
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Financial Control means a religious institution or place of worship shall be 10
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Financial Control. On the Closing Date, Total shall have the exclusive right to control MR's finances and shall immediately assume responsibility for handling all financial affairs of MR including, without limitation, collecting accounts receivable and assuring that all accounts payable and other debts are timely paid. Total shall take responsibility for the finances, accounting, administration, personnel and all management functions and shall be responsible for the operation of MR except to the extent such duties may be delegated to Michel and Xxxxx pursuant to their Employment Agreements.
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Financial Control. The responsibility for overseeing the proper management of funds lies first with the Swiss Beneficiary. The Swiss Beneficiary must ensure that expenditure reflects the realities and is consistent with the work done, this also for the part claimed by the Romanian beneficiary. Subsequently, SNSF examines the financial reports of the whole JRP first in connection with the project progress and also on the basis of the supporting documents (receipts, reports, etc..) attached to the reports. UEFISCDI, in turn, check in the same way the Romanian part of the financial report. The financial report must be accompanied by original receipts for any single expense. The accounting shall be done according to the approved budget categories (Annex B of the Grant Agreement). Rebates, discounts and the like shall be regarded as cost reductions and must be declared as such in the financial report.
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Financial Control means the set of activities carried out to verify the economy, effectiveness, efficiency and purposefulness of financial transactions or their parts prior to and when carried out, until their full settlement and clearance and the achievement and maintenance of the results and objectives of the financial transactions or their parts;
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Related to Financial Control

  • Financial Contract of a Person means (i) any exchange-traded or over-the-counter futures, forward, swap or option contract or other financial instrument with similar characteristics or (ii) any Rate Management Transaction.

  • Financial Contracts means any arrangement that:

  • Financial Contribution means a contribution from an implementing partner in the form of own risk-taking capacity that is provided on a pari passu basis with the EU guarantee or in another form that allows an efficient implementation of the InvestEU Programme while ensuring appropriate alignment of interest;

  • Financial Counterparty has the meaning given to such term in, and shall be interpreted in accordance with, 12 C.F.R. 252.81, 12 C.F.R. 382.1 and 12 C.F.R. 47.2.

  • Qualified Financial Contract means a qualified financial contract as defined in 12 U.S.C. Section 1821(e)(8)(D).

  • Informed Financial Consent means the medical provider advises you of any out-of-pocket costs before your admission. This is called Informed Financial Consent.

  • Financial Bid means that part of the offer, that provides price schedule, total project costs etc.

  • Financial Report means the annual financial report prepared under Chapter 2M of the Corporations Act for the Company and its controlled entities;

  • Financial Close means the Capacity Market Seller has demonstrated that the Capacity Market Seller or its agent has completed the act of executing the material contracts and/or other documents necessary to (1) authorize construction of the project and (2) establish the necessary funding for the project under the control of an independent third-party entity. A sworn, notarized certification of an independent engineer certifying to such facts, and that the engineer has personal knowledge of, or has engaged in a diligent inquiry to determine, such facts, shall be sufficient to make such demonstration. For resources that do not have external financing, Financial Close shall mean the project has full funding available, and that the project has been duly authorized to proceed with full construction of the material portions of the project by the appropriate governing body of the company funding such project. A sworn, notarized certification by an officer of such company certifying to such facts, and that the officer has personal knowledge of, or has engaged in a diligent inquiry to determine, such facts, shall be sufficient to make such demonstration.

  • Financial Closure means compliance with the requirements under Article 3.1 of this Agreement;

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Financial Reports means the Annual Financial Statements and the Interim Accounts.

  • Financial Consequences means a financial sanction imposed for an anti-doping rule violation or to recover costs associated with an anti-doping rule violation; and

  • Financial Commitment means the legally binding undertaking of the Operator to mobilize the financial requirements of the project, for ensuring the completion of the project;

  • Independent Financial Consultant means a financial consultant or firm of such consultants generally recognized to be well qualified in the financial consulting field, appointed and paid by the District, who, or each of whom:

  • financial entity means the following entities which meet such criteria or conditions as the Central Government may, in consultation with the financial sector regulator, notify in this behalf, namely:

  • Financial Quarter means the period commencing on the day after one Quarter Date and ending on the next Quarter Date.

  • Financial Reporting Measure means any measure determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measures derived wholly or in part from such measures, including GAAP, IFRS and non-GAAP/IFRS financial measures, as well as stock or share price and total equityholder return.

  • Financial Closing means the execution of the Financing Documents by all the parties thereto, and the fulfillment of all conditions precedent thereunder necessary to permit the advance of funds to pay amounts due under this Agreement.

  • Operational Control means Security monitoring, adjustment of generation and transmission resources, coordinating and approval of changes in transmission status for maintenance, determination of changes in transmission status for reliability, coordination with other Balancing Authority Areas and Reliability Coordinators, voltage reductions and load shedding, except that each legal owner of generation and transmission resources continues to physically operate and maintain its own facilities.

  • Financial Reporting Measures means measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and all other measures that are derived wholly or in part from such measures. Stock price and total shareholder return (and any measures that are derived wholly or in part from stock price or total shareholder return) shall, for purposes of this Policy, be considered Financial Reporting Measures. For the avoidance of doubt, a Financial Reporting Measure need not be presented in the Company’s financial statements or included in a filing with the SEC.

  • Financial Crime means money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, evasion of economic or trade sanctions, and/or any acts or attempts to circumvent or violate any Laws relating to these matters.

  • Financial Closing Date means the date of the closing of the initial agreements for any Financing of the Facility and of an initial disbursement of funds under such agreements.

  • Financial Instrument” shall mean the Financial Instruments under the Company’s CIF license which can be found in the document “Company Information” on the Website. It is understood that the Company does not necessarily offer all the Financial Instruments which appear on its CIF license but only those marketed on its Website from time to time.

  • Financial aid means loans and/or grants to needy students

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.