40 CFR 31.20 - Standards for financial management systems.

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§ 31.20 Standards for financial management systems.
(a) A State must expand and account for grant funds in accordance with State laws and procedures for expending and accounting for its own funds. Fiscal control and accounting procedures of the State, as well as its subgrantees and cost-type contractors, must be sufficient to—
(1) Permit preparation of reports required by this part and the statutes authorizing the grant, and
(2) Permit the tracing of funds to a level of expenditures adequate to establish that such funds have not been used in violation of the restrictions and prohibitions of applicable statutes.
(b) The financial management systems of other grantees and subgrantees must meet the following standards:
(1) Financial reporting. Accurate, current, and complete disclosure of the financial results of financially assisted activities must be made in accordance with the financial reporting requirements of the grant or subgrant.
(2) Accounting records. Grantees and subgrantees must maintain records which adequately identify the source and application of funds provided for financially-assisted activities. These records must contain information pertaining to grant or subgrant awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays or expenditures, and income.
(3) Internal control. Effective control and accountability must be maintained for all grant and subgrant cash, real and personal property, and other assets. Grantees and subgrantees must adequately safeguard all such property and must assure that it is used solely for authorized purposes.
(4) Budget control. Actual expenditures or outlays must be compared with budgeted amounts for each grant or subgrant. Financial information must be related to performance or productivity data, including the development of unit cost information whenever appropriate or specifically required in the grant or subgrant agreement. If unit cost data are required, estimates based on available documentation will be accepted whenever possible.
(5) Allowable cost. Applicable OMB cost principles, agency program regulations, and the terms of grant and subgrant agreements will be followed in determining the reasonableness, allowability, and allocability of costs.
(6) Source documentation. Accounting records must be supported by such source documentation as cancelled checks, paid bills, payrolls, time and attendance records, contract and subgrant award documents, etc.
(7) Cash management. Procedures for minimizing the time elapsing between the transfer of funds from the U.S. Treasury and disbursement by grantees and subgrantees must be followed whenever advance payment procedures are used. Grantees must establish reasonable procedures to ensure the receipt of reports on subgrantees' cash balances and cash disbursements in sufficient time to enable them to prepare complete and accurate cash transactions reports to the awarding agency. When advances are made by letter-of-credit or electronic transfer of funds methods, the grantee must make drawdowns as close as possible to the time of making disbursements. Grantees must monitor cash drawdowns by their subgrantees to assure that they conform substantially to the same standards of timing and amount as apply to advances to the grantees.
(c) An awarding agency may review the adequacy of the financial management system of any applicant for financial assistance as part of a preaward review or at any time subsequent to award.

Title 40 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.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 7 - AGRICULTURE
U.S. Code: Title 15 - COMMERCE AND TRADE
U.S. Code: Title 20 - EDUCATION
U.S. Code: Title 33 - NAVIGATION AND NAVIGABLE WATERS

§ 1251 - Congressional declaration of goals and policy

§ 1252 - Comprehensive programs for water pollution control

§ 1252a - Reservoir projects, water storage; modification; storage for other than for water quality, opinion of Federal agency, committee...certain prescribed water quality benefits in relation to total project benefits

§ 1253 - Interstate cooperation and uniform laws

§ 1254 - Research, investigations, training, and information

§ 1254a - Research on effects of pollutants

§ 1255 - Grants for research and development

§ 1256 - Grants for pollution control programs

§ 1257 - Mine water pollution control demonstrations

§ 1257a - State demonstration programs for cleanup of abandoned mines for use as waste disposal sites; authorization of appropriations

§ 1258 - Pollution control in the Great Lakes

§ 1259 - Training grants and contracts

§ 1260 - Applications; allocation

§ 1261 - Scholarships

§ 1262 - Definitions and authorizations

§ 1263 - Alaska village demonstration projects

§ 1263a - Grants to Alaska to improve sanitation in rural and Native villages

§ 1264 - Omitted

§ 1265 - In-place toxic pollutants

§ 1266 - Hudson River reclamation demonstration project

§ 1267 - Chesapeake Bay

§ 1268 - Great Lakes

§ 1269 - Long Island Sound

§ 1270 - Lake Champlain Basin Program

§ 1271 - Sediment survey and monitoring

§ 1271a - Research and development program

§ 1272 - Environmental dredging

§ 1273 - Lake Pontchartrain Basin

§ 1274 - Watershed pilot projects

§ 1401 - Congressional finding, policy, and declaration of purpose

§ 1402 - Definitions

U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

§ 300f - Definitions

§ 6901 - Congressional findings

§ 6901a - Congressional findings: used oil recycling

§ 6902 - Objectives and national policy

§ 6903 - Definitions

§ 6904 - Governmental cooperation

§ 6905 - Application of chapter and integration with other Acts

§ 6906 - Financial disclosure

§ 6907 - Solid waste management information and guidelines

§ 6908 - Small town environmental planning

§ 6908a - Agreements with Indian tribes

§ 7401 - Congressional findings and declaration of purpose

§ 7402 - Cooperative activities

§ 7403 - Research, investigation, training, and other activities

§ 7404 - Research relating to fuels and vehicles

§ 7405 - Grants for support of air pollution planning and control programs

§ 7406 - Interstate air quality agencies; program cost limitations

§ 7407 - Air quality control regions

§ 7408 - Air quality criteria and control techniques

§ 7409 - National primary and secondary ambient air quality standards

§ 7410 - State implementation plans for national primary and secondary ambient air quality standards

§ 7411 - Standards of performance for new stationary sources

§ 7412 - Hazardous air pollutants

§ 7413 - Federal enforcement

§ 7414 - Recordkeeping, inspections, monitoring, and entry

§ 7415 - International air pollution

§ 7416 - Retention of State authority

§ 7417 - Advisory committees

§ 7418 - Control of pollution from Federal facilities

§ 7419 - Primary nonferrous smelter orders

§ 7420 - Noncompliance penalty

§ 7421 - Consultation

§ 7422 - Listing of certain unregulated pollutants

§ 7423 - Stack heights

§ 7424 - Assurance of adequacy of State plans

§ 7425 - Measures to prevent economic disruption or unemployment

§ 7426 - Interstate pollution abatement

§ 7427 - Public notification

§ 7428 - State boards

§ 7429 - Solid waste combustion

§ 7430 - Emission factors

§ 7431 - Land use authority

§ 9601 - Definitions

§ 9602 - Designation of additional hazardous substances and establishment of reportable released quantities; regulations

§ 9603 - Notification requirements respecting released substances

§ 9604 - Response authorities

§ 9605 - National contingency plan

§ 9606 - Abatement actions

§ 9607 - Liability

§ 9608 - Financial responsibility

§ 9609 - Civil penalties and awards

§ 9610 - Employee protection

§ 9611 - Uses of Fund

§ 9612 - Claims procedure

§ 9613 - Civil proceedings

§ 9614 - Relationship to other law

§ 9615 - Presidential delegation and assignment of duties or powers and promulgation of regulations

§ 9616 - Schedules

§ 9617 - Public participation

§ 9618 - High priority for drinking water supplies

§ 9619 - Response action contractors

§ 9620 - Federal facilities

§ 9621 - Cleanup standards

§ 9622 - Settlements

§ 9623 - Reimbursement to local governments

§ 9624 - Methane recovery

§ 9625 -

§ 9626 - Indian tribes

§ 9627 - Recycling transactions

§ 9628 - State response programs