[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1484.33]

[Page 739-740]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1484_PROGRAMS TO HELP DEVELOP FOREIGN MARKETS FOR AGRICULTURAL 
 
                      Subpart C_Program Operations
 
Sec. 1484.33  Must Cooperators follow certain financial management guidelines?

    (a) A Cooperator shall implement and maintain a financial management 
system that conforms to generally accepted accounting principles.
    (b) A Cooperator shall institute internal controls and provide 
written guidance to commercial entities participating in its activities 
to ensure their compliance with these provisions. Each Cooperator shall 
maintain all original records and documents relating to program 
activities for 5 calendar years following the end of the applicable 
marketing plan year and shall make such records and documents available 
upon request to authorized officials of the U.S. Government. A 
Cooperator shall also maintain all documents related to employment, such 
as employment applications, contracts, position descriptions, leave 
records, and salary changes; and all records pertaining to contractors. 
A Cooperator shall also maintain adequate documentation related to the 
proper disposition of all property purchased by the Cooperator and for 
which the Cooperator is reimbursed with program funds.
    (c) A Cooperator shall maintain its records of expenditures and 
contributions in a manner that allows it to provide information by 
marketing plan year, country or region, activity number, and cost 
category. Such records shall include:
    (1) Receipts for all STRE (actual vendor invoices or restaurant 
checks, rather than credit card receipts);
    (2) Original receipts for any other program related expenditure in 
excess of $25.00;
    (3) The exchange rate used to calculate the dollar equivalent of 
each expenditure made in a foreign currency and the basis for such 
calculation;
    (4) Copies of reimbursement claims;
    (5) An itemized list of claims charged to the Cooperator's FMD 
account;
    (6) Documentation with accompanying English translation supporting 
each reimbursement claim, including original evidence to support the 
financial transactions, such as canceled checks, receipted paid bills, 
contracts

[[Page 740]]

or purchase orders, per diem calculations, and travel vouchers; and
    (7) Documentation supporting contributions including: the date(s), 
purpose, and location(s) of each activity for which cash, goods, or 
services were claimed as a contribution; who conducted the activity; the 
participating groups or individuals; and the method of computing the 
claimed contributions. Cooperators must retain, and make available for 
audit, documentation related to claimed contributions.
    (d) Upon request, a Cooperator shall provide to FAS the original 
documents which support the Cooperator's reimbursement claims. FAS may 
deny a claim for reimbursement if the claim is not supported by adequate 
documentation.