Section 62-816.010 - Accounting RequirementsThe grantee shall maintain an accounting system which provides for a complete record of the use of all funds connected with the grant. This accounting system shall provide for:
(1) Accurate, current, and complete disclosure of the financial results of the grant.(2) Records that identify adequately the sources and application of funds for all activities related to the grant. In the absence of a proper accounting system with accounts for source and application of funds, a separate checking account may be used.(3) Effective control over and accountability for all funds, property, and other assets.(4) Comparison of actual outlays with amounts in budget.(5) Procedures to minimize the time elapsing between the transfer of funds from the Trust and the disbursement by the grantee.(6) Procedures for determining reasonableness, allowability, and allocability of costs.(7) Accounting records that are supported by source documentation, for example: invoices, bills, canceled checks.(8) An independent audit performed in accordance with Section 11.45, F.S., and rules of the Auditor General of the State of Florida. Such audits should be conducted at least every two (2) years.Fla. Admin. Code Ann. R. 62-816.010
Rulemaking Authority 259.101, 374.045, 380.507(11) FS. Law Implemented 259.101, 375.045, 380.510 FS.
New 6-30-93, Formerly 9K-5.010.New 6-30-93, Formerly 9K-5.010.