Policy 6101 - Federal Cash And Financial Management

The district’s financial management system and records will be sufficient for preparing required reports and for tracing expenditures to a level that establishes funds have been used according to federal statutes, regulations, and the terms and conditions of the federal award. This is in addition to maintaining a system of funds and accounts in accordance with state law and the accounting manual (Policy 6020). 

The district’s financial management system will: 

• Identify all federal awards received and expended, including specific information pertaining to the award: federal program name; CFDA title and number; identification number and year; and name of federal and any passthrough agency. 
• Provide for accurate, current, and complete disclosure of the results of each federal award in accordance with reporting requirements. 
• Include records and supporting documentation that identify the source and application of funds for federally funded activities, including authorizations, obligations, unobligated balances, expenditures, assets, income and interest. 
• Enable the district to maintain effective internal controls to ensure accountability and proper safeguarding and use of all funds, property and other assets (for example, adequate segregation of duties). 
• Provide a comparison of expenditures with budget amounts for each federal award. 

Legal References:

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