Section 47.005. Grantee accountability.

 

(1)   Applicability. The provisions of this section apply only to subchs. II , IV , V , VIII , IX and XII .

(2)   Records management. The grant recipient shall maintain an accounting system that accurately reflects all fiscal transactions, incorporates appropriate controls and safeguards, and provides a good audit trail, particularly to source or original documents, as directed in the project agreement.

(a) Fiscal controls and accounting procedures. Financial schedules and statements filed with grant applications and payment requests shall be based on records maintained under generally accepted accounting principles which meet the following minimum requirements:

1. Project accounts shall separate grant receipts and eligible expenditures from those allocable to other programs and activities.

2. Receipts and expenditures shall be listed in sufficient detail to provide a basis for accurate and complete program reporting.

3. All project receipts shall be identified in sufficient detail to reflect their source and purpose.

4. Supporting records for all project expenditures shall be itemized in detail to indicate the nature and appropriateness of each. Proof of payment, such as canceled checks or receipts from vendors, shall be maintained.

5. Payroll records that reflect actual project hours worked by each employee as well as allocable gross wages and fringe benefits paid shall be maintained. Time and attendance records describing the work performed, specifying project hours worked by day, and both signed by the employee and bearing evidence of management review/approval, shall be maintained, along with computations showing hourly pay rates and allocation of fringe benefits.

(b) Consultant, construction and service contracts. Any work totaling $10,000 or more per year shall be covered by a formal contract or agreement specifying financial terms, contract duration and services to be rendered.

(3)   Records retention and auditing. The grantee shall retain all records pertaining to its project and make them available to the department on request for 3 years from the date of the final payment.

Cr. Register, August, 1992, No. 440 , eff. 9-1-92; am. (1) and (3), Register, May, 1999, No. 521 , eff. 6-1-99; CR 00-177 : am. (1), Register July 2001, No. 547 eff. 8-1-01; CR 08-062 : am. (1) Register May 2009 No. 641 , eff. 6-1-09.