Section 1400.200  Accounting Requirements

The following requirements pertain to all grantees receiving Authority grant awards:

a)         All grantee accounting entries must be supported by appropriate source documents, recorded in books of original entry, and posted to a general ledger on a monthly basis.

b)         Each grantee shall maintain all fiscal records related to the grant for 3 years after the end of each budget period.  In instances involving unresolved issues arising from an audit, pending litigation or unresolved fiscal reporting issues, records relating to the unresolved issues must be retained until the issues are resolved if beyond the 3 year requirement.

c)         Grantees shall expend funds in accordance with the contracted budget or in accordance with Authority re-allocation procedures pursuant to Section 1400.240.