New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 110 - LOCAL GOVERNMENT GRANTS
Part 5 - JUVENILE ADJUDICATION FUND GRANTS TO LOCAL GOVERNMENTS
Section 2.110.5.8 - ADMINISTRATIVE REQUIREMENTS
Universal Citation: 2 NM Admin Code 2.110.5.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. Grantees must comply with the program guidelines, all applicable laws and regulations, as well as requirements and procedures established in the grant agreement between the division and the grantee.
B. Grantees must establish a separate fund in their budget and accounting system to account for grant funds. This fund must be included in the grantee's budget process and financial reports.
C. Grantees must have financial management systems that meet the standards set forth in this subsection.
(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 agreement.
(2)
Accounting records. Grantees must maintain records that adequately identify the
source and application of funds provided for alternative adjudication programs.
These records must contain information pertaining to grant 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 funds and items purchased with grant funds. Grantees must adequately
safeguard all such funds and items and must assure that they are used solely
for authorized purposes.
(4) Budget
control. Grantees must have adequate systems to ensure actual expenditures or
outlays do not exceed budgeted amounts for each grant.
(5) 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. The division may review the adequacy of the financial management system of
any applicant or grantee as part of a preaward review or at any time after
grant award.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
