[Code of Federal Regulations]
[Title 20, Volume 3]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR633.309]

[Page 316]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
 CHAPTER V--EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR
 
PART 633--MIGRANT AND SEASONAL FARMWORKER PROGRAMS--Table of Contents
 
         Subpart C--Program Design and Administrative Procedures
 
Sec. 633.309  Recordkeeping requirements.

    (a) Each grantee shall ensure maintenance of systems whose financial 
management and participant data components provide federally-required 
records and reports that are accurate, uniform in definition, accessible 
to authorized Federal staff, and verifiable for monitoring, reporting, 
and evaluation purposes.
    (b) The grantee shall ensure that systems:
    (1) Maintain data elements used in required Federal reports in 
accordance with established program definitions contained in the Act and 
these regulations;
    (2) Follow consistent rules for aggregation of detailed data to 
summary levels;
    (3) Are able to track data from detailed records to summary reports;
    (4) Maintain procedures to ensure that information is current, 
complete, consistent, and accurate;
    (5) Meet generally accepted accounting principles as prescribed in 
41 CFR part 29-70;
    (6) Provide for adequate control of Federal funds and other assets;
    (7) Trace the funds to a level of expenditures adequate to 
demonstrate that funds have been spent lawfully;
    (8) Maintain internal controls to avoid conflict-of-interest 
situations and prevent irregular transactions or activities;
    (9) Support accounting records with source documentation such as 
cancelled checks, paid bills, contracts, grants, and agreements; and
    (10) Establish procedures that will minimize the time elapsing 
between the receipt of advanced funds and their disbursement.