Section 6-1 - Grant Fiscal Management The Division shall manage all grants and contracts, and shall require:
(a) Compliance with the Wyoming Information Network and the Division Financial Management and Accounting System Manual;
(b) Submission of monthly and quarterly fiscal reports from each grantee, prepared in compliance with the above Manual; and
(c) Annual audits will be conducted by each grantee for each of the programs funded in the project period. - (i) Grantees will follow the bid process contained in the Division Financial Management and Accounting System Manual.
- (ii) Two copies of the annual audits will be sent to the State Audit and Compliance Division.
- (iii) Resolution of audit findings:
- (A) Findings will be reviewed and, if necessary, discrepancies and/or compliance issues will be resolved by a plan of action mutually agreed upon by the Division and grantee within ninety (90) days after the audit report.
- (B) Unallowable costs will be paid back to the Division by the grantee.
- (I) Grantee may make payment to the Division; or
- (II) The Division shall withhold funds of grantee; or
- (III) The grantee may request an administrative hearing under Chapter 2, Section 4.
(d) Property and equipment shall be managed properly. - (i) All equipment/property purchased with state or federal funds shall be inventoried annually in accordance with the Financial Management and Accounting System of the Division.
- (ii) If a piece of equipment becomes inoperable, the project shall make plans to repair or replace the equipment.
- (iii) If the equipment has completely depreciated, the grantee may dispose of it when it becomes inoperable.
- (iv) If the equipment is still usable, the project may request replacement and utilize the old item of equipment as trade-in.
- (v) If the equipment is usable, but no longer needed by the grantee, the grantee may:
- (A) Transfer the equipment to another project for which the recipient may be required to make payment;
- (B) Advertise the equipment for sale to the highest bidder;
- (I) The funds from the sale of the equipment shall be divided into the federal, state and local shares that were in force when the equipment was originally purchased. There shall be reimbursement of the federal and state funds to the grant.
- (vi) Kitchen equipment:
- (A) Grantee shall refer to "Equipment Guide for On-Site School Kitchens" when planning to purchase kitchen equipment.