Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />Blue Cross Blue Shield of Minnesota <br />Contractor Terms and Conditions <br /> <br />d, <br /> <br />of receipts, expenditures, and disbursements. Contractor's records will permit tracing transactions from <br />support documentation to the accOlUlting records to financlal reports and billings. Such documentation <br />shaH include proof of all match contnbutions, including identification of the source of each and every such <br />contribution, and may include, but shall not necessarily be limited to subsidiary ledgers, payroll records, <br />vendor involces, canceled checks, bank or other fmancial aCCotUlt records, consultant contracts and <br />billings, vohmteer rosters and work logs, and lease or rental agreements. Such documentation shall be <br />readily available for inspection, review, and/or audit by Project Staff or other representative of BCBSM. <br /> <br />Subcontractor(s) employed by the Contractor and paid with moneys under the tenus of this Contract shall <br />be responsible for maintaining aCcolUlting records as specified above. BCBSM reserves the right to <br />conduct audits of sub-contractors. <br /> <br />The books, records} documents, and accounting procedures and practices of Contractor relevant to this <br />agreement shall be retained and made available and subject to examination by BCBSM for a minimum <br />of three years_ <br /> <br />e, <br /> <br />12, ALLOWABLE COSTS AND DOCUMENT A nON <br /> <br />To be allowed under this Contract, costs must meet the following criteria: <br /> <br /> <br />a. Be necessary and reasonable for the performance of the contract. <br /> <br /> <br />b. Be determined in accordance with generally accepted accounting principles. <br /> <br />c, Be adequately documented, <br /> <br />13. REASONABLE COSTS <br /> <br />A cost is reasonable if, in its nature Of amount, it does not exceed that which would be incurred by a pmdent <br />person under the circumstances prevailing at the time the decision was made to incur the cost. <br />Consideration will be given to: <br /> <br />a. Whether the cost is of a type generally recognized as ordinary and necessary for the perfOlmance of the <br />Contract. <br /> <br />b. The restraints or requirements imposed by such factors as generally accepted sound business practices, <br />alTIlS length bargaining, federal and state laws and regulations and the tenns and conditions of the Contract. <br /> <br />c. Whether the individuals concerned acted with prudence in the circumstances, considering their <br />responsibilities to the organization, its members, employees, clients, and the public at large. <br /> <br />d. Significant deviations from the established practices of the organization that may unjustifiably increase <br />Contract costs. <br /> <br />14, REIMBURSEMENT LIMITED TO NET COSTS <br /> <br />All costs charged against the Contract shall be net of all applicable credits, The term "applicable credits" <br />refers to those receipts or reductions of expenditures that operate to offset or reduce expense items that arc <br />reimbursable under this Contract. Applicable credits may include, but arc not necessarily limited to, rebates <br />or allowances, discounts, credits toward subsequent purchases, and refunds. Contractor shall, where <br />possible, deduct the amount of the credit from the amount billed as reimbursement for the cost, or shall <br />deduct the atnowlt of the credit from the total billed under a fuhue invoice. <br /> <br />Page 4 of 7 <br />