Financial Management FM-6

Maine Center for Disease Control and Prevention WIC Nutrition Program Effective: October 1, 2012 Policy No FM-6 Revised: October 1, 2022

Local Agency Financial Management Systems Authority 7 CFR §246.13 2 CFR §200

Policy

1. Each Local Agency shall maintain a financial management system that discloses accurate, current and complete financial status of the WIC Program. 2. Each Local Agency shall maintain a separate, self-balancing set of accounts for its WIC, BFPC, and FMNP Programs. The funds provided for each grant must be identifiable in the Local Agency’s accounting system Expenditures not recorded in these accounts shall not be allowable charges to the Maine CDC WIC Program. 3. Records for expenditures within each funding source must be maintained separately. 4. Costs shall be reasonable and necessary for the operation of the WIC Program. 5. Payments to Local Agencies will be made monthly at 1/12 of the contracted amount and trued up quarterly to the actual amount. The true up process will be completed upon the receipt of the agency’s quarterly financial reporting (see Appendix FM-6-A). Quarterly financial reports can be found on the DHHS Division of Contract Management web site. Quarterly reports are due 30 days following the end of a calendar quarter and should be emailed to the DHHS Department of Contracts Management Local Agency Single Point of Contact (SPOC), the State Agency WIC Program Director and the State Agency WIC Financial Manager. Reports shall identify the sources and uses of funds expended for program activities. Source documents must be maintained for a minimum of three (3) years. 6. Local Agency financial management systems must maintain fiscal-year integrity. 7. The Local Agency must segregate fiscal duties among staff. 8. The Local Agency must have a set of written procedures to describe the accounting system and how the various functions are completed.