PAP.11.2.090 Financial Management
(a) The Tribe's financial management system, including records documenting compliance with all statutes, regulations, and the terms and conditions of all awards, must be sufficient to permit the preparation of reports required by general and program-specific terms and conditions; and the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the statutes, regulations, and the terms and conditions of the awards. The financial management system of the Tribe must provide for the following:
(1) Identification (ID), in its accounts, of all awards received and expended and the programs under which they were received.
(2) Program and award identification (ID) must include, as applicable:
(3) The federal assistance listing number,
(4) Award identification (ID) number and year,
(5) Name of the funding agency, and
(6) Name of the pass-through entity, if any.
(7) Each grant will be accounted for separately by using a fund/department code issued by the Financial Analyst. Costs will not be incurred without a fund/department number.
(b) Accurate, current, and complete disclosure of the financial results of each award or program in accordance with the reporting requirements set forth in 2 CFR §200.327, titled "Financial reporting", and 2 CFR §200.328, titled "Monitoring and reporting program performance."
(1) Sound internal controls require timely and accurate financial information to be prepared and presented to management for review.
(2) Financial reports will be prepared for required accounting periods within the time imposed and on the basis of accounting required by the grantor agencies.
(c) The Compliance Department will perform all grant financial reporting for the Tribe.
(d) The Program Director is responsible for maintaining the:
(1) Grant reporting schedule to ensure all reports are submitted on time.
(2) Master grant files for audit purposes.
(3) Grant financial and programmatic reports are kept on file by the Compliance Manager of the Tribe.
(e) The Financial Analyst also provides reports to the Program Directors, management, and the Tribal Governing Board so they have the most current up to date information and are able to update their grant files. These may include:
(1) Revenue/expenditure reports, and
(2) General ledger account detail reports.