28 CFR 70.21 - Standards for financial management systems.

§ 70.21 Standards for financial management systems.
(a) Recipients must relate financial data to performance data and development unit cost information whenever practical.
(b) Recipients' financial management systems must provide for the following:
(1) Accurate, current and complete disclosure of the financial results of each Federally-sponsored project or program in accordance with the reporting requirements set forth in § 70.52. When the Department requires reporting on an accrual basis from a recipient that maintains its records on other than an accrual basis, the recipient will not be required to establish an accrual accounting system. These recipients may develop such accrual data for its reports on the basis of an analysis of the documentation on hand.
(2) Records that identify adequately the source and application of funds for Federally-sponsored activities. These records must contain information pertaining to Federal awards, authorizations, obligations, unobligated balances, assets, outlays, income and interest.
(3) Effective control over and accountability for all funds, property and other assets. Recipients must adequately safeguard all such assets and assure they are used solely for authorized purposes.
(4) Comparison of outlays with budget amounts for each award. Whenever appropriate, financial information should be related to performance and unit cost data.
(5) Written procedures to minimize the time elapsing between the transfer of funds to the recipient from the U.S. Treasury and the issuance or redemption of checks, warrants or payments by other means for program purposes by the recipient. To the extent that the provisions of the Cash Management Improvement Act (CMIA) (Pub. L. 101-453) govern, payment methods of State agencies, instrumentalities, and fiscal agents must be consistent with CMIA Treasury-State Agreements or the CMIA default procedures codified at 31 CFR part 205, “Withdrawal of Cash from the Treasury for Advances under Federal Grant and Other Programs.”
(6) Written procedures for determining the reasonableness, allocability and allowability of costs in accordance with the provisions of the applicable Federal cost principles and the terms and conditions of the award.
(7) Accounting records including cost accounting records that are supported by source documentation.
(c) The Department, at its discretion, may require adequate bonding and insurance if the bonding and insurance requirements of the recipient are not deemed adequate to protect the interest of the Federal Government.
(d) The Department will require adequate fidelity bond coverage when the recipient lacks sufficient coverage to protect the Federal Government's interest.
(e) Where bonds are required in the situations described above, the bonds must be obtained from companies holding certificates of authority as acceptable sureties, as prescribed in 31 CFR part 223, “Surety Companies Doing Business with the United States.”

Title 28 published on 2014-07-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
U.S. Code: Title 18 - CRIMES AND CRIMINAL PROCEDURE
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

§ 3711 - Establishment of Office of Justice Programs

§ 3712 - Duties and functions of Assistant Attorney General

§ 3712a - Office of Weed and Seed Strategies

§ 3712b - Weed and Seed strategies

§ 3712c - Inclusion of Indian tribes

§ 3712d - Transferred

§ 3712e - Community Capacity Development Office

§ 3712f - Division of Applied Law Enforcement Technology

§ 3712g - Availability of funds

§ 3712h - Office of Audit, Assessment, and Management

§ 3713 - State grant program for training and prosecution of computer crimes

§ 3713a - Local law enforcement grants

§ 3713b - Improved investigative and forensic resources for enforcement of laws related to intellectual property crimes

§ 3713c - Additional funding for resources to investigate and prosecute intellectual property crimes and other criminal activity involving computers

§ 3713d - Annual reports

§ 3714 - Grant program for State and local domestic preparedness support

§ 3714a - Grants to States for threat assessment databases

§ 3715 - Office of Justice Programs grants, cooperative agreements, and contracts

§ 3715a - Consolidation of financial management systems of Office of Justice Programs

§ 3716 - Support for criminal investigations and prosecutions by State, local, and tribal law enforcement officials

§ 3716a - Grant program

§ 5601 - Findings

§ 5602 - Purposes

§ 5603 - Definitions

§ 10601 - Crime Victims Fund

§ 10602 - Crime victim compensation

§ 10603 - Crime victim assistance

§ 10603a - Child abuse prevention and treatment grants

§ 10603b - Compensation and assistance to victims of terrorism or mass violence

§ 10603c - Compensation to victims of international terrorism

§ 10603d - Crime victims legal assistance grants

§ 10603e - Crime victims notification grants

§ 10604 - Administrative provisions

§ 10605 - Establishment of Office for Victims of Crime

§ 10606 - Repealed.

§ 10607 - Services to victims

§ 10608 - Closed circuit televised court proceedings for victims of crime