Iowa Code 8F.4 – Reporting requirements
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1. a. As a condition of continuing to receive state or federal moneys through an oversight agency for a service contract, a recipient entity shall file an annual report with the oversight agency and with the legislative services agency within ten months following the end of the recipient entity’s fiscal year.
b. However, the annual report shall not be required to be filed under any of the following circumstances:
(1) The recipient entity reports information otherwise required to be included in an annual report described in subsection 2 to the oversight agency pursuant to federal or state statutes or rules. The information otherwise required to be reported to the oversight agency shall be filed with the legislative services agency.
(2) The recipient entity is recognized by the Internal Revenue Code as a nonprofit organization or entity and provides a copy of the internal revenue service form 990 for all fiscal years in which service contract revenues are reported.
Terms Used In Iowa Code 8F.4
- Agency: means a unit of state government, which is an authority, board, commission, committee, council, department, or independent agency as defined in section 7E. See Iowa Code 8F.2
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Oversight: Committee review of the activities of a Federal agency or program.
- Oversight agency: means an agency that contracts with and disburses state or federal moneys to a recipient entity. See Iowa Code 8F.2
- Recipient entity: means an intergovernmental entity or a private agency that enters into a service contract with an oversight agency to provide services which will be paid for with local governmental, state, or federal moneys. See Iowa Code 8F.2
- Service contract: includes grants when the predominant factor, thrust, and purpose of the contract formalizing the grant is for the provision of services. See Iowa Code 8F.2
- services: means work performed for an oversight agency or for its client. See Iowa Code 8F.2
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- year: means twelve consecutive months. See Iowa Code 4.1
2. The annual report required to be filed pursuant to this section shall contain the following:
a. Financial information relative to the expenditure of state and federal moneys for the prior year pursuant to the service contract. The financial information shall include but is not limited to budget and actual revenue and expenditure information for the year covered.
b. Financial information relating to service contracts with the oversight agency during the preceding year, including the costs by category to provide the contracted services.
c. Reportable conditions in internal control or material noncompliance with provisions of laws, rules, regulations, or contractual agreements included in external audit reports of the recipient entity covering the preceding year.
d. Corrective action taken or planned by the recipient entity in response to reportable conditions in internal control or material noncompliance with laws, rules, regulations, or contractual agreements included in external audit reports covering the preceding year.
e. Any changes in the information submitted in accordance with section 8F.3.
f. A certification signed by an officer and director of the recipient entity, two directors of the recipient entity, or the sole proprietor of the recipient entity, whichever is applicable, stating the annual report is accurate and the recipient entity is in full compliance with all laws, rules, regulations, and contractual agreements applicable to the recipient entity and the requirements of this chapter.
3. A recipient entity shall be required to submit such information as requested by the oversight agency or the legislative services agency relating to the entity’s expenditure of state and federal moneys.