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(k) In its financial records, a grantee that owns or operates more than one facility shall keep separate records of the transactions of each facility, and if expenses or revenues involve more than one facility, shall attribute the expenses or revenues to the separate facilities on a consistent basis. (l) A grantee shall maintain financial records using the state fiscal year. (m) A grantee shall keep adequate backup material for entries in its books of account. A grantee shall issue pre-numbered receipts for all collections, and shall save receipts or cancelled checks from all of its payments. A grantee may maintain no more than one petty cash fund per facility, and may keep no more than $500 in a petty cash or other imprest account. (n) To the extent that 7 AAC 53.901 — 7 AAC 53.999 do not state standards for accounting and reporting, the department will audit grantees using Standards for Audit of Governmental Organizations, Program Activities and Functions issued in 1981 by the Comptroller General of the United States. (o) A grantee and any subcontractor of the grantee shall allow the department to inspect all of its financial records, including federal tax returns and reports. (Eff. 1/13/85, Register 93) Statutory Authority: Authority: AS 47.05.010 AS 47.40.011 AS 47.40.031 Editor’s note: A copy of Standards for Audit of Government Organizations, Program Activities and Functions, referred to in 7 AAC 53.931(n), may be reviewed at the nearest regional office of the division of family and youth services. 7 AAC 53.935. Books of account. (a) The books of account of a grantee must include a general ledger and records of original entry. If a grantee operates more than one residential child care facility, the grantee shall maintain separate books of account for each facility. A grantee’s records of original entry must include

(1) a receipts journal and accounts receivable ledger;

(2) a cash disbursement journal and payroll journal; and