6 AAC 40.120. Financial and performance reporting

(a) A grantee shall submit, to the state agency administering the grant, financial and performance reports detailing the uses of the grant, at least every three months or more often as may be required by the grant agreement between the applicant and the state. A report required by this section must be submitted or postmarked not later than 15 days after the end of each required reporting period unless the grantee has spent its entire grant and has previously submitted complete financial and performance reports.

(b) Upon complete expenditure of a grant, the grantee shall submit to the state agency administering the grant a financial report and a program performance report detailing expenditure of the funds and program performance. The financial report must be prepared by a person competent in accounting matters and must be certified by that person as being true and correct. The program performance report must be prepared by an officer or employee of the applicant who is approved by the state agency that administers the grant.

(c) The state agency that administers the grant may require an independent audit by a certified public accountant or other person, and may require the grantee to pay the cost of the audit.

History: Eff. 8/16/82, Register 83

Authority: Ch. 125, SLA 1982

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