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501 c)(3) organizations as defined in the Internal Revenue Service Code as not-fort <br />fit or anizations. The responsibility of Contractor s governing board shal <br />pro g <br />include: accountability for all funds and materials received from Dedeand <br />compliance with Department Rules, policies, procedures, and applicable fe <br />am deficiencies <br />state laws and regulations; and correction of fiscal and progr'cesses. Further, <br />identified through self evaluation and Department s morutonng p <br />Contractor's governing board shall ensure separation of powers, duties, ane <br />functions of board members and staff. Staff members, including then bard. <br />director, shall not serve as voting members of the Contrs ctontained or referenced <br />Ignorance of any Contract provisions or other requiremen <br />in this Contract shall not constitute a defense or basis for waiving or appealing such <br />provisions or requirements. <br />Section 12.03 Management and Control Systems. Contractor shall mainta anand <br />appropriate contract administration system to insure that all terms, co~ tlfnancial <br />specifications are met. Contractor shall develop, implement, an~ em nts of UGMS <br />management and control systems that meet or exceed the Contractor's Financial <br />and adhere to procedures detailed in Dth De artment's web site: <br />Procedures Manual availabc~s aThose requirements shall include at a <br />htt :/lwww.dshs.state.tx.uslcontra <br />minimum: <br />a) financial planning, including the development of budgets that <br />adequately reflect all functions and resources necessary to carry out <br />authorized activities and the adequate determination of costs; <br />b) financial management systems including accurate, correct, of <br />complete accounting records that identify the source and ap ntract and <br />funds provided under each Program Attachment of this Co , <br />that support the information contained in required financial reports; and <br />cost source documentation; and <br />c) effective internal and budgetary controls; determination of <br />reasonableness, allowableness, and allocability of costs; timely and <br />appropriate audits and resolution of any findings; billing and collection <br />policies; and a mechanism capable of billing and making reasonable <br />efforts to collect from clients and third parties. <br />Contractor shall maintain insurance or <br />Section 12.04 Iasurance and Bondinga ~~ De artment funds. <br />other means of replacing assets purchas p <br />Section 12.05 Fidelity Bond. Contractor is required to carry a fidelity bond ur <br />insurance coverage equal to the amount of funding provided under ids underc this <br />to $100,000 that covers each employee of Contractor handling ~ fidelit bond <br />Contract, including person(s) authorizing payment of such funds. The 1 an <br />or insurance shall provide for indemnification of losses occasioned by () y <br />fraudulent or dishonest act or acts committed by any of Contractor s emploo~ Banes, <br />either individually or in concert with others, and/or (2) failure of Contractor y <br />of its employees to perform faithfully hisllier duties or to account properly for all <br />6/1212007 19 <br />General Provisions (Core Subrecipient 2008) <br />