Rules & Regulations of the State of Tennessee
Title 1240 - Human Services
Subtitle 1240-06 - Tennessee Business Enterprises
Chapter 1240-06-10 - Facility Operational Requirements
Section 1240-06-10-.11 - RECORD KEEPING AND REPORTING
Current through September 24, 2024
(1) It shall be the responsibility of each manager to establish, maintain, and retain financial, payroll, personnel, and operational records as required by law or by policies contained in the Operations Manual. The vending facility manager is required to maintain all such records for a minimum of four years. In addition, managers are expected to comply with record retention requirements of other governmental bodies.
(2) Reports required by TBE policies developed with the active participation of the Committee shall be filed promptly with the Agency. The reports and supporting documentation will be periodically reviewed by the Agency and will be subject to examination, analysis, and/or audit at any time by Fiscal Services, Internal Audit, or TBE staff. All examinations, analysis, and audits will be conducted in accordance with generally accepted auditing procedures. This provision shall not be construed to restrict any audit required by other entities of government and authorized by federal or state laws.
(3) The manager must open a separate banking account in which sufficient funds are maintained to conduct the business of the vending facility.
(4) Each vending facility manager must immediately report to the Agency, in writing, any findings resulting from a governmental audit, either state or federal, or any citation for critical violation of any health regulations or any state law related to the operation of the vending facility.
(5) Any bankruptcy action filed by the manager which directly or indirectly affects the Agency or creditors of the facility, must be reported to the Agency, in writing, within five days of filing.
Authority: T.C.A. §§ 4-5-201 et seq., 71-1-105(12), and 71-4-604(c); 34 C.F.R. § 395.7(c).
