RES 034 Draft 01 2012-2014 - Laserfiche WebLink

Home

Form RD 3570-3 Page 5 (b)A physical inventory of equipment shall be taken and the results reconciled with the equipment records at least once every two years to verify the existence,current utilization, and continued need for the equipment. (c)A control system shall be in effect to ensure adequate safeguards to prevent loss, damage,or theft of the equipment.Any loss,damage,or theft of equipment shall be investi- gated and fully documented. (d)Adequate maintenance procedures shalt be implemented to keep the equipment in good condition. (e) Proper sales procedures shall be established for unneeded equipment which would provide for competition to the extent practicable and result in the highest possible return; This Grant Agreement covers the following described equipment(use continuation sheets as necessary). Desktop and Laptop computer equipment J. Provide Financial Management Systems which will include: 4 Accurate;current,and complete disclosure of the financial results of each graot.-Financial report.. ing will be on an accrual basis. 2.Records which identify adequately the source and application of funds for grant-supported activities.Those records shall contain information pertaining to grant awards and authorizations, obligations,unobligated balances,assets,liabilities,outlays;and income. 3.Effective control over and accountability for all funds,property,and other assets.Grantees shall adequately safeguard all such assets and shall ensure that they are used solely for authorized purposes. 4.Accounting records supported by source documentation. K. Retain financial records, supporting documents,statistical records,and all other records pertinent to the grant for a period of at least three years after grant closing except that the records shall be retained beyond the three-year period if audit findings have not been resolved.Microfilm or photo copies or similar methods may be substituted in lieu of original records.The Grantor and the Comptroller-General of the United States, or any of their duly authorized representatives,shall have access to any books, documents,papers,and records of the Grantee's which are pertinent to the specific grant program for the purpose of making audits, examinations,excerpts,and transcripts; L.Provide either an audit report,annual financial statements,or other documentation prepared in accordance with Grantor regulations to allow the Grantor to determine that funds have been used in compliance with the proposal,any applicable laws and regulations,and this Agreement; M.Agree to account for and to return to Grantor interest earned on grant funds pending their disbursement for program purposes when the Grantee is a unit of local government.States and agencies or an instrumentality of a State shall not be held accountable for interest earned on Grantfunds pending their disbursement;