Finding Text
Criteria: Section 5.1 of the grant agreement incorporates 2 CFR Part 200, which establishes uniform administrative requirements, cost principles, and audit requirements for Federal awards (Uniform Guidance (UG) Administrative Requirements). UG administrative requirements puts emphasis on written policies and procedures as central in its objective to maintain eective internal controls over federal awards. Condition: First Financial Credit Union did not develop written policies and procedures relating to the administration of its federal grant program. Effect or potential effect: Lack of written policies could result in deficiencies relating to accountability, transparency or improper use of federal grant funds. Recommendation: We recommend the Credit Union establish policies and procedures for its federal grant programs required by UG Administrative Requirements.