No cost allocation plan shall be approved by the Department unless such a plan: Relates to allowable costs as defined in Laws and policies of the federal, State and City governments; Relates to costs necessary for performance pursuant to this Agreement; Contractor’s Fairly and accurately reflects the actual allocable share of such cost with respect to this Agreement; Is developed in accordance with generally accepted accounting principles; and Is accompanied by such supporting documentation as the Department deems necessary to evaluate the plan. A cost allocation plan approved by the Department may be modified with the written D. approval of the Department. E. Notwithstanding any provision in this Section 3.04 to the contrary, the Department further reserves the right to withhold payments to Contractor for allocated costs in accordance with the Fiscal Manual or if the Department determines that such allocated costs have been incorrectly determined, are not allowable, or are not properly allocable pursuant to this Agreement and/or approved cost allocation plan. Section 3.05 Cost of living increases. Where industry has experienced an increase Contractor’s in costs (e.g., salary, wage or fringe benefit cost of living increases, a change in the prevailing or living wage, a renegotiated collective bargaining agreement, an industry-wide increase in the Producer Price for fuel or energy) that exceeds the Budget, and the Office of Management and Budget Index (“PPI”) or another independent agency has determined in writing that additional funds will be made (“OMB”) available to a City agency for the class of contracts pursuant to which Contractor provides the same or substantially similar services, then the Department shall reimburse Contractor for such increases in costs to the extent that such increases have been authorized by the City for contracts within such class of contracts and to the extent that funds are appropriated for such purposes. Any cost of living increase will not be effective unless and until an amendment to the Agreement is registered pursuant to Charter § 328. ARTICLE IV FISCAL PROCEDURES — Section 4.01 Cooperation and compliance. Contractor hereby agrees to fully cooperate and comply with the Fiscal Manual on all fiscal matters related to this Agreement. Section 4.02 Accounts. A. Contractor shall establish and maintain one (1) or more separate accounts for the funds obtained from or through the City of New York related to this and all other agreements with the City, and shall maintain records for such account to track and clearly identify the funds obligated through this Agreement.
No cost allocation plan shall be approved by the Department unless such a plan: Relates to allowable costs as defined in Laws and policies of the federal, State and City governments; Relates to costs necessary for Contractor’s performance pursuant to this Agreement; Fairly and accurately reflects the actual allocable share of such cost with respect to this Agreement; Is developed in accordance with generally accepted accounting principles; and Is accompanied by such supporting documentation as the Department deems necessary to evaluate the plan. D. A cost allocation plan approved by the Department may be modified with the written approval of the Department. E. Notwithstanding any provision in this Section 3.04 to the contrary, the Department further reserves the right to withhold payments to Contractor for allocated costs in accordance with the Fiscal Manual or if the Department determines that such allocated costs have been incorrectly determined, are not allowable, or are not properly allocable pursuant to this Agreement and/or approved cost allocation plan. Section 3.05 Cost of living increases. Where Contractor’s industry has experienced an increase in costs (e.g., salary, wage or fringe benefit cost of living increases, a change in the prevailing or living wage, a renegotiated collective bargaining agreement, an industry-wide increase in the Producer Price Index (“PPI”) for fuel or energy) that exceeds the Budget, and the Office of Management and Budget (“OMB”) or another independent agency has determined in writing that additional funds will be made available to a City agency for the class of contracts pursuant to which Contractor provides the same or substantially similar services, then the Department shall reimburse Contractor for such increases in costs to the extent that such increases have been authorized by the City for contracts within such class of contracts and to the extent that funds are appropriated for such purposes. Any cost of living increase will not be effective unless and until an amendment to the Agreement is registered pursuant to Charter § 328. ARTICLE IV — FISCAL PROCEDURES Section 4.01 Cooperation and compliance. Contractor hereby agrees to fully cooperate and comply with the Fiscal Manual on all fiscal matters related to this Agreement. Section 4.02 Accounts. A. Contractor shall establish and maintain one (1) or more separate accounts for the funds obtained from or through the City of New York related to this and all other agreements with the City, and shall maintain records for such account to track and clearly identify the funds obligated through this Agreement.
FY18_Over_100K_Protected.docx