Ala. Admin. Code r. 300-4-13-.10

Current through Register Vol. 43, No. 02, November 27, 2024

Section 300-4-13-.10 - Maintenance Of Records

(1) Each approved institution shall establish and maintain current, adequate records which reflect all transactions with respect to program and fiscal activity as they relate to the administration of the (Re)Engage Alabama Grant Program. The records must be maintained in such a manner as to identify all program and fiscal transactions separately from other institutional activities and funds.

(2) The records for any award period shall be retained for a period of five (5) years following the date of submission of the institutional award list, unless a longer retention period is necessitated because of program review or audit resolution problems. In the event an approved institution closes or otherwise ceases operation and fails to matriculate students, institutional (Re)Engage Alabama Grant Program records of the approved institution shall be forwarded to ACHE for retention.

(3) The financial aid office representative for the (Re)Engage Alabama Grant Program will collect and submit copies of the completed (Re)Engage Alabama Grant Program Applications and the (Re)Engage Grant Program Award List to the Commission each academic term, all of which will be used to gather data in a uniform manner from each institution for each applicant; such forms shall contain information relative to all eligibility criteria for a (Re)Engage Alabama Grant Program award. Fiscal records pertaining to the operation of the (Re)Engage Alabama Grant Program at an approved institution must be maintained in a manner which provides a clear audit trail.

(4) The Executive Director of the Commission or any of the Director's duly authorized representatives will have access for the purpose of review and examination to (Re)Engage Alabama Grant Program records and supporting documents maintained by the approved institution.

(5) The records involved in any claim or expenditure which has been questioned by program review or by state audit must be retained until resolution of any such review or audit questions.

Ala. Admin. Code r. 300-4-13-.10

Adopted by Alabama Administrative Monthly Volume XLII, Issue No. 03, December 29, 2023, eff. 2/12/2024.

Author: Artcola Pettway, Stephanie C. Dolan

Statutory Authority:Code of Ala. 1975, § 16-5-1; Alabama Act 2023-539.