Okla. Admin. Code § 340:105-10-114

Current through Vol. 42, No. 7, December 16, 2024

Section 340:105-10-114 - Financial management standards for area agencies on aging and Title III projects

(a)Policy. Each area agency on aging (AAA) and Title III project maintains an accounting system that is in compliance with generally accepted accounting principles. All Title III funds and state and local funds expended to earn or match such funds must be accounted for in accordance with the federal standards outlined in the authorities listed in (b) of this Section.

(b)Authority. The authority for this Section is Part 74 of Title 45 of the Code of Federal Regulations and Federal Register Office of Management and Budget (OMB) Circulars A-87 and A-122.

(c)Procedures. AAAs and Title III projects implement financial management standards in accordance with the federal standards outlined in the authorities in (b) of this Section.

(1) The Oklahoma Department of Human Services (OKDHS) Aging Services Division monthly reviews and reconciles AAA actual monthly expenditure reports for the prior month and adjusts for discrepancies in the following month's payments.

(2) The grantee agency may use OKDHS forms or computer-generated versions. Any computer-generated form must:

(A) include all of the information on the OKDHS forms that is pertinent to the grantee agency's reporting requirements; and

(B) be submitted to the grantor agency for approval prior to use.

(d)Cross references. See OAC 340:105-10-115 and 340:105-10-116.

Okla. Admin. Code § 340:105-10-114

Added at 11 Ok Reg 673, eff 11-29-93 (emergency); Added at 11 Ok Reg 2771, eff 6-13-94; Amended at 19 Ok Reg 1170, eff 5-13-02; Amended at 23 Ok Reg 393, eff 11-8-05 (emergency); Amended at 23 Ok Reg 1062, eff 7-15-06; Amended at 24 Ok Reg 1325, eff 6-1-07