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A recipient must have a written procedure for accounting for program income. These written procedures should provide reasonable assurance that program income is correctly earned, recorded, and used in accordance with program requirements.
The recipient should, at a minimum: 1) set realistic performance targets for the generation of program income; 2) analyze variances between expected and actual program income; and 3) have an information system that identified program income collections and usage.
Non Federal Audits
An organization that expends over $500,000 of federal funds (all federal funds including HRSA funds) within a recipients’ fiscal year must have an Office of Management and Budget (OMB) Circular A-133 audit performed.