D.C. Mun. Regs. tit. 29, r. 29-1813

Current through Register Vol. 71, No. 43, October 25, 2024

Rule 29-1813 - GRANT CLOSE OUT

1813.1

All grantees and subgrantees are subject to audit in connection with the close out of the grant.

1813.2

A grantee or subgrantee that has been designated high risk, or has expended $500,000 more in grant funds during the grant year, an independent and in-depth financial statement and audit of the type required by OMB Circular A133's "single audit" for any entity that expends $500,000 or more of grant funds during the grant year is required.

1813.3

A grantee or sub-grantees that are assigned a "medium-risk" assessment by their awarding Department, or those that expend between $499,999 and $250,000, shall be required to prepare and file at close-out a less-extensive financial statement report prepared by an independent accountant containing:

(a) An income statement;

(b) A balance sheet;

(c) A reconciliation of cash balances;

(d) A reconciliation of stockholder equity (if the grantee is a for-profit entity); and

(e) An independent review of management's internal controls.

1813.4

A grantee or sub-grantee receiving and expending between $25,000 and $249,999 during the grant year shall be required to file a financial statement that contains:

(a) An income statement;

(b) A balance sheet;

(c) A reconciliation of cash balances; and

(d) A review of management's internal controls.

1813.5

A grantee or sub-grantee assigned a "low-risk" designation, and any other grantee or sub-grantee that receives and spends up to $24,999, shall file a simple financial report containing:

(a) An income statement; and

(b) A balance sheet.

D.C. Mun. Regs. tit. 29, r. 29-1813

Final Rulemaking published at 60 DCR 15243 (November 1, 2013)

Authority: An Act to enable the District of Columbia to receive federal financial assistance under Title XIX of the Social Security Act for a medical assistance program, and for other purposes approved December 27, 1967 (81 Stat.774; D.C. Official Code § 1-307.02 (2006 Repl. & 2012 Supp.)) and Section 6(6) of the Department of Health Care Finance Establishment Act of 2007, effective February 27, 2008 (D.C. Law 17-109; D.C. Official Code § 7-771.05(6) (2008 Repl.).