Louisiana Administrative Code
Title 67 - SOCIAL SERVICES
Part VII - Rehabilitation Services
Chapter 17 - Grant Policy
Section VII-1713 - Financial Administration

a. 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;

b. Accounting Records. Grantees 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 awards and authorizations, obligations, unobligated balances, assets, liabilities, outlays or expenditures, and income;

c. Internal Control. Effective control and accountability must be maintained for all grant cash, real and personal property, and other assets. Grantees must adequately safeguard all such property and must assure that it is used solely for authorized purposes;

d. Budget Control. Actual expenditures or outlays must be compared with budgeted amounts for each grant. 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 agreement. If unit cost data are required, estimates based on available documentation will be accepted whenever possible;

e. Allowable Cost. Applicable cost principles, applicable state laws and regulations, agency program regulations, and the terms of grant agreement will be followed in determining the reasonableness, allowability and allocability of costs;

f. Source Documentation. Accounting records must be supported by such source documentation as canceled checks, paid bills, payrolls, time and attendance records, contract and grant award documents, etc.;

g. Cash Management. Procedures for minimizing the time elapsing between the transfer of funds from the state treasury and disbursement by grantees must be followed whenever advance payment procedures are used;