La. Admin. Code tit. 48, § I-4713 - Accounting and Recordkeeping
A. A
provider shall establish a system of business management and staffing to
maintain separate and complete accounts, books, and records. Fiscal records
will be maintained according to generally accepted accounting procedures,
sufficient to reflect properly all direct and indirect costs incurred.
1. All transactions and events must be
recorded, classified and summarized in appropriate journals; providing
chronological records of transaction having a common origin and ledgers of
accounts to receive and consolidate transaction amounts related to a given
classification.
2. Expenditures
must be kept in the following cost categories: Salaries, Fringe, Travel,
Operating Services, Supplies, Equipment, Other. The provider will submit a
monthly operating statement to the state detailing monthly expenditures by cost
category.
3. All records shall be
maintained in an accessible, standardized order and format and shall be subject
at all reasonable times to inspection and audit by the state agency and the
legislative auditor.
4. A provider
shall not permit public funds to be paid, or committed to be paid, to any
person to which any of the members of the governing body, administrative
personnel, or members of the immediate families of members of the governing
body, or administrative personnel have any direct or indirect financial
interest, or in which any of these persons serve as an officer or employee,
unless the services or goods involved are provided at a competitive cost or
under terms favorable to the provider. The provider shall have written
disclosure of any financial transaction with the facility in which a member of
the governing body, administrative personnel, or his/her immediate family is
involved.
5. All books, records and
other documents relevant to the expenditure of state funds must be retained for
six years after final payments.
6.
A provider shall have sufficient space, facilities and supplies for providing
effective recordkeeping services.
Notes
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