3025 Financial Management | ADMINISTRATION-5600-MANUAL
Georgia Division of Aging Services |
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Chapter: |
3000 Area Agency on Aging (AAA) Administration |
Effective Date: |
09/07/2023 |
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Section Title: |
Financial Management |
Reviewed or Updated in: |
MT 2024-01 |
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Section Number: |
3025 |
Previous Update: |
MT 2014-02 |
Summary Statement
Area Agencies on Aging (AAA) and service providers shall comply with all federal and state financial management requirements as applicable. Refer to 45 C.F.R 75.104, 2 C.F.R 200.106 and the remainder of 2 C.F.R, Section 200.
Requirements
Area Agencies on Aging (AAA) shall demonstrate and maintain fiscal integrity to comply with Federal and State requirements and with all state and local laws pertaining to the financial operation of an Area Agency.
The Division of Aging Services (DAS) will, from time to time, develop policies, procedures, standards, program instructions through operations manual content, and technical assistance documents, as necessary to support and interpret applicable rules and laws.
Timing of Expenditures
Expenditures for a program shall not be made before the beginning date of the contract, nor after the ending date, except for accounts payable and other written obligations. These obligations shall be paid within sixty (60) days of the end of the fiscal year.
Standards
Regional Commissions/AAAs shall meet the following standards for financial management systems, as prescribed by federal regulations:
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Financial reporting
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Accounting records
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Internal controls
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Allowable costs
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Source documentation
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Cash management
Internal Control Procedures
RC/AAAs shall establish and maintain internal controls for themselves and assure that all subcontractors establish adequate internal controls. Agencies shall document policies and procedures, including, but not limited to:
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Cash control procedures, including requirements for handling participant contributions and guest fees; record keeping of cash receipts and expenditures; cash deposits; separation of cash handling from record-keeping responsibilities; and periodic reconciliation of all cash funds, including bank accounts;
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A plan to equitably distribute on a timely basis the state’s cash advance by the Area Agency to subcontractors;
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Bidding, purchasing and contracting procedures, in accordance with federal, state and local requirements;
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Requirements for bid guarantees, performance bonds, and payment bonds for bids and contracts for construction and facility improvements, if applicable;
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Policies affecting authorization of and reimbursement for in-state and out-of-state travel, including required signatures and supporting documentation.