Md. Code Regs. 10.54.02.08

Current through Register Vol. 51, No. 25, December 13, 2024

Section 10.54.02.08 - Financial Management System

A local agency shall:

A. Maintain records that identify the source and use of funds expended for Program activities and which contain information pertaining to:

(1) Authorization;

(2) Receipt of funds;

(3) Obligations;

(4) Unobligated balances;

(5) Assets;

(6) Liabilities;

(7) Outlays; and

(8) Income; and

B. Implement procedures which ensure prompt and accurate payment of allowable costs.

Md. Code Regs. 10.54.02.08

Amended effective 47:10 Md. R. 519, eff. 5/18/2020