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4F <br />t <br />t• <br />16T-2.012 ACCOUNTABILITY. The following procedures shall govern <br />the accountability of program funds' <br />(1) Each project sponsor i• responsible for maintaining an accounting <br />system which meets Generally accepted accounting principles and for maintaining <br />such financial, record• am necessary to properly account for all progra'i fund•. <br />(2) <br />The project sponsor shall submit quarterly project status report• <br />to FIND during the project period. <br />These reports will summarise the work <br />accomplished since the previous report, problems encountered, percentage <br />of project completion and any other appropriate information. <br />(3) All required final completion certification documents and materials <br />as outlined in s. 16T-2.009(5) of this rule shall be submitted to the District <br />prior to final reimbursement of program funds. <br />(4) All project record• including project costs shall be available <br />for review by the District or by an auditor •elected by the District for <br />3 years after completion of the project. Any such audit expensea°lncurred <br />•hall bs borne entirely by the project sponsor. <br />(5) The project sponsor •hall retain all records supporting project <br />costs for three year• after either the completion of the project or the final <br />reimbursement payment, whichever is later, except that should any litigation. <br />claim, or special audit arise before the expiration of the three year period, <br />the project sponsor shill retain all records until the final resolution of <br />such matters.' <br />,(6) If it is found by any State, County, FIND, or independent audit <br />that program funds have not been used in accordance with this rule and applicable <br />laws, the project sponsor shall repay the misused program funds to the District. <br />Specific Authority 374.976(2) FS. Law Implemented 374.976(1) FS. History -New <br />-13- <br />