Library: Policy
340:105-10-114. Financial management standards for area agencies on aging and Title III projects
Revised 6-1-07
(a) Policy. Each area agency on aging (AAA) and Title III project maintains an accounting system that is in compliance with generally accepted accounting principles. All Title III funds and state and local funds expended to earn or match such funds must be accounted for in accordance with the federal standards outlined in the authorities listed in (b) of this Section.
(c) Procedures. AAAs and Title III projects implement financial management standards in accordance with the federal standards outlined in the authorities in (b) of this Section. • 1
(1) The Oklahoma Department of Human Services (OKDHS) Aging Services Division monthly reviews and reconciles AAA actual monthly expenditure reports for the prior month and adjusts for discrepancies in the following month's payments.
(2) The grantee agency may use OKDHS forms or computer-generated versions. Any computer-generated form must:
(A) include all of the information on the OKDHS forms that is pertinent to the grantee agency's reporting requirements; and
(B) be submitted to the grantor agency for approval prior to use.
(d) Cross references. See OAC 340:105-10-115 and 340:105‑10-116.
Revised 3-1-10
1.Reports.Area Agencies on Aging (AAAs) and Title III projects complete the reports outlined in this Instruction and submit to the grantor agency as indicated.
(1) Form 02AG015E, Project Financial Report, is used by AAAs and Title III projects and submitted quarterly.
(2) Form 02AG009E, Monthly Summary of Cash Transactions, is used by AAAs and Title III projects and submitted monthly.
(3) Form 02AG010E, Cash Receipts Journal, is used by AAAs and Title III projects and submitted monthly.
(4) Form 02AG011E, Cash Disbursements Journal, by line item, is used by AAAs and Title III projects and submitted monthly.
(5) Form 02AG012E, Cash Disbursements Journal, by allotment, is used by AAAs and Title III projects and submitted monthly.
(6) Form 02AG027E, Area Agency Quarterly Summary of Program Income, is used by AAAs only and submitted quarterly.
(7) Form 02AG013E, Equipment Inventory, is used by AAAs and Title III projects and is submitted annually.
