Finding Text
2022-002 Financial Management Policy Program - Assistance to Tribally Controlled Community Colleges and Universities. Assistance Listing Number - 15.027. Federal Agency - U.S. Department of the Interior. Criteria - Uniform Guidance requires a non-federal entity to establish written financial management policies accordance with 2 CFR 200.302. The non-federal entity's financial management system must be sufficient to permit the preparation of reports required by general and program-specific terms and conditions; and the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the Federal statutes, regulations, and the terms and conditions of the Federal award. Condition/Context - The College does not have written financial management policies. The identification of the BIE federal program expenditures were not able to be identified in the College's general ledger. Cause - The College's grant financial management policies were not updated to reflect the changes established by the Uniform Guidance. Effect - The identification of the BIE federal program expenditures were not able to be identified in the College's general ledger. Questioned Costs - None. Recommendation - The College formalize a written financial management policy in accordance with the Uniform Guidance and implement procedures to identify the federal expenditures for the BIE federal program. Views from Responsible Official - The College accepts the recommendation.