Accounting. Financial Management and Internal Controls for Federal Awards
(a) We will provide records documenting compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. They will be sufficient to permit the preparation of reports required by general and program-specific terms and conditions; and the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the Federal statutes, regulations, and the terms and conditions of the Federal award.
(b) We will retain records, honor requests for transfer of records, collect, transmit and store sensistive inofrmation in accordance with Federal Law and with the strictest of confidence. All digital files will be encoded and no financial information or credit cards stored. We will provide access to records but strict public access.
(1) We will indetify all Federal awards received and expended and the Federal programs under which they were received, as applicable, i.e. the CFDA title and number, Federal award identification number and year, name of the Federal agency, and name of the pass-through entity, if any.
(2) We will provide accurate, current, and complete disclosure of the financial results of each Federal award or program in accordance with the reporting requirements set forth in Federal §§200.327 Financial reporting and 200.328 Monitoring and reporting program performance.
(3) We will provide records that identify adequately the source and application of funds for federally-funded activities. These records will contain information pertaining to Federal awards, authorizations, obligations, unobligated balances, assets, expenditures, income and interest and be supported by source documentation.
(4) We will have effective control over, and accountability for, all funds, property, and other assets. We will adequately safeguard all assets and assure that they are used solely for authorized purposes.
(5) We will compare expenditures with budget amounts for each Federal award.
(6) We will provide implement ALL requirements as a non-Federal entity of Federal §200.305 Payment.
(7) Subpart E—Cost Principles. In reviewing, negotiating and approving cost allocation plans or indirect cost proposals, we will apply indirect costs accounting principles on a consistent basis during our review and negotiation of indirect cost proposals.
We will Establish and maintain effective internal control over the Federal award that provides reasonable assurance that we are managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls will be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
(b) We will comply with Federal statutes, regulations, and the terms and conditions of the Federal awards.
(c) We will comply with any review of statutes, regulations and the terms and conditions of Federal awards.
(d) We will take prompt action when instances of noncompliance are identified including noncompliance identified in audit findings.
(e) We will take reasonable measures to safeguard protected personally identifiable information and other information the Federal awarding agency or pass-through entity designates as sensitive or EscapeMaker.com. Inc. considers sensitive consistent with applicable Federal, state, local, and tribal laws regarding privacy and obligations of confidentiality.