8 AAC 87.150. Accounting procedures

(a) A training entity shall

(1) establish a separate fund and accounting codes for receipt and disbursement of grant money under this chapter;

(2) administer the grant money according to generally accepted accounting principles; and

(3) provide regular periodic reporting to the board of

(A) grant-financed activities as prescribed in the grant agreement; and

(B) the disposition of grant proceeds in accordance with intended use.

(b) The board will require the training entity to comply with the audit requirements of 2 AAC 45.010 or, if 2 AAC 45.010 is not applicable, with other generally accepted accounting principles.

History: Eff. 7/26/90, Register 115; am 9/19/97, Register 143; am 12/24/2004, Register 172

Authority: AS 23.15.645

AS 23.15.651

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.