Florida Regulations 66B-1.012: Accountability
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The following procedures shall govern the accountability of program funds:
(1) Accounting: Each project sponsor is responsible for maintaining an accounting system which meets generally accepted accounting principles and for maintaining such financial records as necessary to properly account for all program funds.
(2) Quarterly Reports: The project sponsor shall submit quarterly project status reports to FIND in accordance with subsection 66B-1.009(4), F.A.C.
(3) Completion Certification: All required final completion certification documents and materials as outlined in subsection 66B-1.009(8), F.A.C., of this rule shall be submitted to the District prior to final reimbursement of program funds.
(4) Auditing: All project records including project costs shall be available for review by the District, or by an auditor selected by the District, for 3 years after completion of the project. Any such audit expenses incurred shall be borne entirely by the project sponsor.
(5) Project Records: The project sponsor shall retain all records supporting project costs for three years after either the completion of the project or the final reimbursement payment, whichever is later, except that should any litigation, claim, or special audit arise before the expiration of the three year period, the project sponsor shall retain all records until the final resolution of such matters.
(6) Repayment: If it is found by any State, County, FIND, or independent audit that program funds have not been used in accordance with this rule and applicable laws, the project sponsor shall repay the misused program funds to the District.
Rulemaking Authority Florida Statutes § 374.976(2). Law Implemented 374.976(1) FS. History-New 12-17-90, Formerly 16T-1.012, Amended 7-30-02.
Terms Used In Florida Regulations 66B-1.012
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
(2) Quarterly Reports: The project sponsor shall submit quarterly project status reports to FIND in accordance with subsection 66B-1.009(4), F.A.C.
(3) Completion Certification: All required final completion certification documents and materials as outlined in subsection 66B-1.009(8), F.A.C., of this rule shall be submitted to the District prior to final reimbursement of program funds.
(4) Auditing: All project records including project costs shall be available for review by the District, or by an auditor selected by the District, for 3 years after completion of the project. Any such audit expenses incurred shall be borne entirely by the project sponsor.
(5) Project Records: The project sponsor shall retain all records supporting project costs for three years after either the completion of the project or the final reimbursement payment, whichever is later, except that should any litigation, claim, or special audit arise before the expiration of the three year period, the project sponsor shall retain all records until the final resolution of such matters.
(6) Repayment: If it is found by any State, County, FIND, or independent audit that program funds have not been used in accordance with this rule and applicable laws, the project sponsor shall repay the misused program funds to the District.
Rulemaking Authority Florida Statutes § 374.976(2). Law Implemented 374.976(1) FS. History-New 12-17-90, Formerly 16T-1.012, Amended 7-30-02.