Common use of Funds Tracking Clause in Contracts

Funds Tracking. Proper fiscal oversight is critical to maintaining public trust in the stewardship of federal funds. Effective October 1, 2013, a new HHS policy on subaccounts requires the CDC to set up payment subaccounts within the Payment Management System (PMS) for all new grant awards. Funds awarded in support of approved activities and drawdown instructions will be identified on the Notice of Award in a newly established PMS subaccount (P subaccount). Recipients will be required to draw down funds from award-specific accounts in the PMS. Ultimately, the subaccounts will provide recipients and CDC a more detailed and precise understanding of financial transactions. The successful applicant will be required to track funds by P- accounts/sub accounts for each project/cooperative agreement awarded. Applicants are encouraged to demonstrate a record of fiscal responsibility and the ability to provide sufficient and effective oversight. Financial management systems must meet the requirements as described 2 CFR 200 which include, but are not limited to, the following: • Records that identify adequately the source and application of funds for federally-funded activities. • Effective control over, and accountability for, all funds, property, and other assets. • Comparison of expenditures with budget amounts for each Federal award. • Written procedures to implement payment requirements. • Written procedures for determining cost allowability. • Written procedures for financial reporting and monitoring.

Funds Tracking. Proper fiscal oversight is critical to maintaining public trust in the stewardship of federal funds. Effective October 1, 2013, a new HHS policy on subaccounts requires the CDC to set up payment subaccounts within the Payment Management System (PMS) for all new grant awards. Funds awarded in support of approved activities and drawdown instructions will be identified on the Notice of Award in a newly established PMS subaccount (P subaccount). Recipients will be required to draw down funds from award-specific accounts in the PMS. Ultimately, the subaccounts will provide recipients and CDC a more detailed and precise understanding of financial transactions. The successful applicant will be required to track funds by P- accounts/sub accounts for each project/cooperative agreement awarded. Applicants are encouraged to demonstrate a record of fiscal responsibility and the ability to provide sufficient and effective oversight. Financial management systems must meet the requirements as described 2 CFR 200 which include, but are not limited to, the following: •  Records that identify adequately the source and application of funds for federally-funded activities. •  Effective control over, and accountability for, all funds, property, and other assets. •  Comparison of expenditures with budget amounts for each Federal award. •  Written procedures to implement payment requirements. •  Written procedures for determining cost allowability. •  Written procedures for financial reporting and monitoring.

Funds Tracking. Proper fiscal oversight is critical to maintaining public trust in the stewardship of federal funds. Effective October 1, 2013, a new HHS policy on subaccounts requires the CDC to set up payment subaccounts within the Payment Management System (PMS) for all new grant awards. Funds awarded in support of approved activities and drawdown instructions will be identified on the Notice of Award in a newly established PMS subaccount (P subaccount). Recipients will be required to draw down funds from award-specific accounts in the PMS. Ultimately, the subaccounts will provide recipients and CDC a more detailed and precise understanding of financial transactions. The successful applicant will be required to track funds by P- accounts/P-accounts/ sub accounts for each project/cooperative agreement awarded. Applicants are encouraged to demonstrate a record of fiscal responsibility and the ability to provide sufficient and effective oversight. Financial management systems must meet the requirements as described 2 CFR 200 which include, but are not limited to, the following: • Records that identify adequately the source and application of funds for federally-funded activities. • Effective control over, and accountability for, all funds, property, and other assets. • Comparison of expenditures with budget amounts for each Federal award. • Written procedures to implement payment requirements. • Written procedures for determining cost allowability. • Written procedures for financial reporting and monitoring.

Funds Tracking. Proper fiscal oversight is critical to maintaining public trust in the stewardship of federal funds. Effective October 1, 2013, a new HHS policy on subaccounts requires the CDC to set up payment subaccounts within the Payment Management System (PMS) for all new grant awards. Funds awarded in support of approved activities and drawdown instructions will be identified on the Notice of Award in a newly established PMS subaccount (P subaccount). Recipients will be required to draw down funds from award-specific accounts in the PMS. Ultimately, the subaccounts will provide recipients and CDC a more detailed and precise understanding of financial transactions. The successful applicant will be required to track funds by P- P-accounts/sub accounts for each project/cooperative agreement awarded. Applicants are encouraged to demonstrate a record of fiscal responsibility and the ability to provide sufficient and effective oversight. Financial management systems must meet the requirements as described 2 45 CFR 200 75 which include, but are not limited to, the following: • Records that identify adequately the source and application of funds for federally-funded activities. • Effective control over, and accountability for, all funds, property, and other assets. • Comparison of expenditures with budget amounts for each Federal award. • Written procedures to implement payment requirements. • Written procedures for determining cost allowability. • Written procedures for financial reporting and monitoring.