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Louisiana LIHEAP Service Delivery Guide 9 | P a g e

A p r i l 1 , 2 0 2 6

CHAPTER 2: ADMINISTRATIVE OPERATIONS

This section provides guidance on establishing sound administrative practices that are in compliance with all applicable federal and state requirements. 2.1 Financial Management Subgrantees must adhere to the Office of Management and Budget (OMB) regulations:  Title 2 CFR Part 200, Part 215, Part 225, Part 230, Part 300 For copies of the OMB Circulars, please visit the website: http://www.whitehouse.gov/omb/circulars/ 2.2 Accounting Systems Subgrantees are responsible for maintaining LIHEAP revenues and expenses in an accounting system, according to generally accepted accounting principles (GAAP), which documents all expenditures in the appropriate budget categories. The system must:  Provide accurate, current, and complete disclosure of all financial transactions;  Separate and identify sources of federal funding;  Maintain effective control over all funds, property, and other assets;  Produce comparison of actual expenditures with the budget approved in the grant agreement;  Determine the reasonable, allowable and allocated costs in accordance with applicable federal and state cost principles;  Support accounting records with source documentation (e.g., contract documents, receipts, cancelled checks, etc.); and  Assure timely resolution of audit findings and other recommendations.

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Page 9

Official source

Louisiana LIHEAP Service Delivery Guide 9 | P a g e

A p r i l 1 , 2 0 2 6

CHAPTER 2: ADMINISTRATIVE OPERATIONS

This section provides guidance on establishing sound administrative practices that are in compliance with all applicable federal and state requirements. 2.1 Financial Management Subgrantees must adhere to the Office of Management and Budget (OMB) regulations:  Title 2 CFR Part 200, Part 215, Part 225, Part 230, Part 300 For copies of the OMB Circulars, please visit the website: http://www.whitehouse.gov/omb/circulars/ 2.2 Accounting Systems Subgrantees are responsible for maintaining LIHEAP revenues and expenses in an accounting system, according to generally accepted accounting principles (GAAP), which documents all expenditures in the appropriate budget categories. The system must:  Provide accurate, current, and complete disclosure of all financial transactions;  Separate and identify sources of federal funding;  Maintain effective control over all funds, property, and other assets;  Produce comparison of actual expenditures with the budget approved in the grant agreement;  Determine the reasonable, allowable and allocated costs in accordance with applicable federal and state cost principles;  Support accounting records with source documentation (e.g., contract documents, receipts, cancelled checks, etc.); and  Assure timely resolution of audit findings and other recommendations.