Section 914 IAC 1-5-1 - Department oversight and verification of use of funds received by qualified entitiesAuthority: IC 10-17-13.5-5
Affected: IC 10-17-13.5
Sec. 1.
(a) A grantee shall account for all grant funds received under this program using generally accepted accounting principles. A grantee shall track all assets, expenses, cost of goods, and use of funds.(b) A grantee shall submit monthly or quarterly financial reports to the department that detail how grant funds have been spent. A grantee shall also submit a comprehensive financial report of the grant at the end of the grant period. Financial reports shall utilize the department's model report.(c) The department will create a model for the approved organization to utilize for case management and financial reviews.(d) As it deems necessary, the department may audit or inspect any and all books, accounting records, or other documents related to the grant at any time. The department may require a grantee, at grantee's expense, to obtain an independent audit from an auditor approved by the department. Indiana Department of Veterans' Affairs; 914 IAC 1-5-1; filed 8/21/2019, 4:08 p.m.: 20190918-IR-914180475FRAFiled 5/9/2022, 8:49 a.m.: 20220608-IR-914210423FRA