048-6 Wyo. Code R. §§ 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.
Notes
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