Financial Requirements and Responsibilities. 7.1. Subrecipient shall ensure that all expenditures and cost accounting of Grant Funds fully complies with the Grant.
Financial Requirements and Responsibilities. All expenditures and cost accounting of funds shall conform to the Office of Justice Grants Financial Guide, and OMB Uniform Guidance (2 C.F.R. § 200.319), as applicable, in their entirety. BSO must maintain written procedures for procurement transactions. Procedures must ensure that all solicitations follow 2 C.F.R. § 200.319, “Competition.” BSO is required to establish and maintain adequate accounting systems and financial records and to accurately account for funds awarded to it. BSO shall have financial management systems in place that are able to record and report on the receipt, obligation, and expenditure of grant funds. An adequate accounting system for BSO must be able to accommodate a fund and account structure to separately track receipts, expenditures, assets, liabilities for awards, and programs. All funds spent on this project must be disbursed according to provisions of the Project Budget as approved in the Grant and this Agreement. See Project Budget attached as Exhibit C.
Financial Requirements and Responsibilities
