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<br />00023:' <br /> <br />2 <br /> <br />ment. When advances are made by a letter-of-credit method, <br />grantee shall make drawdowns from the U. S. Treasury through <br />commercial bank as close as possible to the time of making <br />disbursements. <br /> <br />the <br />his <br />the <br /> <br />f. Procedures for determining the allowability <br />bility of costs in accordance with the provisions <br />Management and Budget Circular No. A-87. <br /> <br />and alloca- <br />of Office of <br /> <br />g. Accounting records which are <br />documentation. <br /> <br />supported <br /> <br />by <br /> <br />source <br /> <br />h. Audits to be made by the grantee or at his direction to <br />determine, at a minimum, the fiscal integrity of financial trans- <br />actions and reports, and the compliance with laws, regulations, <br />and administrative requirements. The grantee will schedule such <br />audits with reasonable frequency, usually annually, but not less <br />frequently than once every two years, considering the nature, <br />size, and complexity of the activity. <br /> <br />i. A systematic method to assure timely and appropriate res- <br />olution of audit findings and recommendations. <br /> <br />3. Grantees shall require subgrantees (recipients of grants <br />which are passed through by the grantee) to adopt all of the <br />standards in paragraph 2 above. <br /> <br />(No. A-l02) <br />