Wednesday, July 24, 2013

Accounting System and Financial Capability Questionnaire

Accounting System and Financial Capability QuestionnaireOJP FORM 7120/1 (2/02) (continued on reverse) Approved: OMB No. 1121-0021 U.S. DEPARTMENT OF JUSTICE OFFICE OF JUSTICE PROGRAMS ACCOUNTING SYSTEM AND FINANCIAL CAPABILITY QUESTIONNAIRE SECTION A: PURPOSE The financial responsibility of grantees must be such that the grantee can properly discharge the public trust which accompanies the authority to expend public funds. Adequate accounting systems should meet the following criteria as outlined in the OJP Financial Guide. (1) Accounting records should provide information needed to adequately identify the receipt of funds under each grant awarded and the expenditure of funds for each grant. (2) Entries in accounting records should refer to subsidiary records and/or documentation which support the entry and which can be readily located. (3) The accounting system

should provide accurate and current financial reporting information. (4) The accounting system should be integrated with an adequate system of internal controls to safeguard the funds and assets covered, check the accuracy and reliability of accounting data, promote operational efficiency, and encourage adherence to prescribed management policies. SECTION B: GENERAL 1. If your firm publishes a general information pamphlet setting forth the history, purpose and organizational structure of your business, please provide this office with a copy; otherwise, complete the following items: a. When was the organization founded/incorporated (month, day, year) b. Principle officers Titles c. Employer Identification Number: d. Number of Employees Full Time: Part Time: 2. Is the firm affiliated with any other firm: 9 Yes 9 No If “yes”, provide details: 3. Total Sales/Revenues in most recent accounting period. (12 months) $ SECTION C: ACCOUNTING SYSTEM 1. Has any Government Agency rendered an official written opinion concerning the adequacy of the accounting system for the collection, identification and allocation of costs under Federal contracts/grants? 9 Yes 9 No a. If yes, provide name, and address of Agency performing review: b. Attach a copy of the latest review and any subsequent correspondence, clearance documents, etc. Note: If review occurred within the past three years, omit questions 2-8 of this Section and Section D. 2. Which of the following best describes the accounting system: 9 Manual 9 Automated 9 Combination 3. Does the accounting system identify the receipt and expenditure of program funds separately for each contract/grant? 9 Yes 9 No 9 Not Sure 4. Does the accounting system provide for the recording of expenditures for each grant/contract by the component project and budget cost categories shown in the approved budget? 9 Yes 9 No 9 Not Sure 5. Are time distribution records maintained for an employee when his/her effort can be specifically identified to a particular cost objective? 9 Yes 9 No 9 Not Sure 6. If the organization proposes an overhead rate, does the accounting system provide for the segregation of direct and indirect expenses? 9 Yes 9 No 9 Not Sure 7. Does the accounting/financial system include budgetary controls to preclude incurring obligations in excess of: a. Total funds available for a grant? b. Total funds available for a budget cost category (e.g. Personnel, Travel, etc)? 9 Yes 9 Yes 9 No 9 No 9 Not Sure 9 Not Sure 8. Is the firm generally familiar...

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