Current through Register Vol. XLI, No. 50, December 13, 2024
Section 164-2-6 - SBA Funds Accounting6.1. Treasurer's Report.6.1.A. A separate account shall be set up within the fiscal records of the individual county to account for all SBA funds. All records shall be maintained pending a final project audit.6.1.B. Funds expended for a multi-county project shall be distributed to the county designated as the fiscal agent for the project.6.2. Budget Coding.6.2.A. County budgets must be supplemented when a grant transfer letter is received from the SBA. This letter will accompany the Grant Agreement and will inform the county that monies will be transferred from the state account to the county's account at the custodial bank at the time the signed contract is received by the SBA.6.2.B. Monies must be supplemented into the general current expenditure funds (Fund 1).6.2.C. All funds to be utilized for capital improvement, regardless of the source, are to be coded in project 25 utilizing the following code numbers: 25X1X - All SBA Funds
25X3X - Local Funds
25X4X - Federal Funds
25X5X - Better School Amendment Funds
25X9X - Other Funds