Iowa Admin. Code r. 441-122.2

Current through Register Vol. 47, No. 10, November 13, 2024

Rule 441-122.2 - Fiscal oversight

(1) In consultation with the state board, the department has adopted policies to oversee the fiscal responsibilities of area boards.

(2) The department will:

a. Review the internal controls of all disbursements of early childhood Iowa funding;

b. Approve the process for issuing agreements with area boards;

c. Approve and sign all agreements between the area boards and the state for the purposes of Iowa Code chapter 256I;

d. Develop a policy for the disbursement of funds;

e. Require an audit, conducted by an independent agency, of the early childhood Iowa funds managed by area boards. The minimum requirements and frequency of audits for the area boards shall be determined and approved by the state board;

f. Ensure that all area boards secure liability insurance; and

g. Require that area boards submit a contract-monitoring schedule for their funded programs.

Iowa Admin. Code r. 441-122.2

Adopted by IAB June 12, 2024/Volume XLVI, Number 26, effective 7/17/2024