Rules & Regulations of the State of Tennessee
Title 1240 - Human Services
Subtitle 1240-06 - Tennessee Business Enterprises
Chapter 1240-06-09 - Setting Aside Funds
Section 1240-06-09-.03 - REQUIREMENTS FOR FINANCIAL REPORTING
Current through September 24, 2024
(1) Each vending facility manager must file with the Agency a monthly financial report of his/her business operation. The report and payment of set-aside assessments currently due the Agency shall be due on the 8th day of the month following the month in which the business was transacted. Reports shall be submitted in the format and method required by the Agency.
(2) If a manager fails, without the showing of good cause, to file the monthly financial report and/or fails to make payment of set-aside assessments as required by these rules, the manager shall be placed on probation for a period of thirty (30) days pursuant to chapter 1240-06-03-.02(1) for either one or both of these infractions. For each offense, the Agency shall assess the manager a penalty of $25.00.
(3) In the event managers file online and pay their set-aside fees via electronic transfer, the probation and penalties outlined in 1240-06-09-.03(2) above shall apply if an Automatic Clearing House (ACH) transfer is returned for insufficient funds.
(4) Falsification of records by the manager, as validated by the Agency or other state entity, will result in the termination of a manager's license without placing the manager on probation. The termination will be preceded by a thirty (30) day written notice by the Agency advising the manager of such action and his/her right to appeal in accordance with chapter 1240-6-11.
Authority: T.C.A §§ 4-5-201 et seq., 49-11-601 et seq., 71-1-104, 71-1-105(12), 71-4-501 et seq., and 71-4-604(c); 34 C.F.R. § 395 et seq. and 34 C.F.R. § 395.9(c).
