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<br />00023:~'1 <br /> <br />..TTACHMENT G <br />Circular No. A-102 <br /> <br />UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS-IN-AID <br />TO STATE AND LOCAL GOVERNMENTS <br /> <br />STANDARDS FOR GRANTEE FINANCIAL MANAGEMENT SYST~ <br /> <br />1. This Attachment prescribes standards for financial management <br />systems of grant-supported activities of State and local govern- <br />ments. Federal grantor agencies shall not impose additional <br />standards an grantees unless specifically provided for in other <br />Attachments to this Circular. . However, grantor agencies are <br />encouraged to make suggestions and assist the grantees in <br />establishing or improving financial management systems when such <br />assista~ce is needed or requested. <br /> <br />2. Grantee financial management systems shall provide for: <br /> <br />a. Accurate, current, and complete disclosure of the finan- <br />cial results of each grant program in accordance with Federal re- <br />porting requirements. When a Federal grantor agency requires <br />reporting on an accrual basis and the grantee's accounting <br />records are not kept on that basis, the grantee sbould develop <br />such information through an analysis of the documentation on hand <br />or on the basi~ of best estimates. <br /> <br />b. Records which identify adequately the source and applica- <br />tion of funds for grant-supported activities. These records <br />shall contain information pertaining to grant awards and <br />authorizations, obligations, unobligated balances, assets, <br />liabilities, outlays, and income. <br /> <br />c. Effective control over and accountability for all funds, <br />property, and other assets. Grantees shall adequately safeguard <br />all such assets and shall assure that they are used solely for <br />authorized purposes. <br /> <br />d. comparison of actual with budgeted amounts for each <br />grant. Also, relation of financial information with performance <br />or productivity data, including the productioo of unit cost <br />information whenever appropriate and required by the grantor <br />agency. <br /> <br />e. Procedures to minimize the time elapsing between the <br />transfer of funds from the U.S. Treasury and the disbursement by <br />the grantee, whenever funds are advanced by the Federal Govern- <br /> <br />(No. A-102) <br />