W. Va. Code R. § 148-24-6

Current through Register Vol. XLI, No. 45, November 8, 2024

Section 148-24-6 - Corrective action plan for spending units that fail to provide necessary information to the Financial Accounting And Reporting Services Section; Training

6.1. Any state spending unit that fails to report necessary financial information to FARS before the established deadline will be placed in a probationary period and subject to a corrective action plan. The corrective action plan may include, but not be limited to:

6.1.a. Identification of specific tasks to be performed and benchmarks to be reached in the preparation of the required financial reports, and designation of deadlines for each;

6.1.b. Periodic updates or reports from the state spending unit regarding the status of any identified task or benchmark;

6.1.c. Reports from the state spending unit describing the manner in which the causes for the state spending unit's failure to meet designated reporting deadlines are being addressed by the state spending unit; and

6.1.d. Designation of new deadlines for completion of the required financial reports.

6.2. The Finance Division of the Department of Administration may provide annual training to those spending units in which financial reporting services are not provided pursuant to an agreement. The training shall encompass necessary information for compilation of the comprehensive annual financial report, format of information, and required deadlines for reporting.

W. Va. Code R. § 148-24-6