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COMPREHENSIVE STANDARD CS R5:
The institution maintains financial control over externally funded
or sponsored research and programs.
| X |
Compliance |
| o |
Partial Compliance |
| o |
Non-Compliance |
The Collin County Community College District (CCCCD) maintains
financial control over externally-funded programs. These
programs are identified as grants and contracts. The Business
Office provides timely and accurate accounting services
for grants and contracts, ensuring that CCCCD is in compliance
with applicable grant and contract regulations and is reimbursed
for allowable costs.
The District is in compliance with the guidelines cited
in both Office of Management and Budget Circular A-21 and
A-110 for all grants and contracts from all funding sources.
All programs are audited annually by the District’s external
auditors, as required by each program’s guidelines, and
these results are contained in the Comprehensive Annual
Financial Report (CAFR) Single Audit section (References
1, 2, 3). Any findings are reported in the auditor’s
management letter (References 4, 5, 6).
In addition to monthly cost center budget reports (Reference
7), a schedule of monthly revenue and expenditures is
prepared by the Business Office, showing each grant and contract,
the amount authorized, the receipts, expenses, accounts
receivable, and the date the amounts were requested (Reference
8). This accounting practice assures that all allowable
costs are reimbursed in a timely manner.
Supporting Documents:
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