1. (a) The Agency shall conduct fiscal monitoring activities to ensure that resources are efficiently and effectively used for authorized purposes and are protected from waste, fraud, and abuse.

2. (b) Processes and procedures used to assess a Grantee may include the review and evaluation of one or more of the following:

   1. (1) accounting and reporting systems;
   2. (2) budget methodologies;
   3. (3) cash management practices;
   4. (4) cost allocation plans and processes;
   5. (5) cash disbursement compliance and documentation;
   6. (6) insurance coverage and risk exposure;
   7. (7) oversight and monitoring functions;
   8. (8) payroll administration;
   9. (9) purchasing and procurement processes and procedures;
   10. (10) property accountability and safeguarding;
   11. (11) expenditure benchmarks; and
   12. (12) other documents, processes and systems as determined by the Agency.
3. (c) Processes and procedures used to assess a Grantee shall include a review, evaluation, and determination regarding compliance with the Grant Agreement, the Fund for Veterans' Assistance Fiscal Guidelines, the State of Texas Uniform Grant Management Standards (UGMS), and OMB Circular A-87 (Cost Principles for State and Local, and Indian Tribal Governments) or OMB Circular A-122 (Cost Principles for Nonprofit Organizations), and other documents, processes and systems as determined by the Agency.

Source Note:The provisions of this §460.23 adopted to be effective June 8, 2011, 36 TexReg 3508.