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7056 <br /> 2. Provide technical assistance to operating departments in preparing grant <br /> applications, submitting reports, maintaining records and responding to any audit <br /> or information requests from granting agencies. <br /> 3. Upon approval by City Council, increase revenues and expenditure appropriations. <br /> 4. Coordinate the accounting and recording for all receipts and disbursements related <br /> to the grant. Finance will determine setup and maintain the most appropriate <br /> method(s) of accounting for grants in the financial system. <br /> 5. To ensure proper coding of the grant(s), the Accountant will receive general ledger <br /> account coding from the Finance Director before posting receipt and expenditure. <br /> 6. If applicable, Finance will create an invoice to the grantor per the operating <br /> department's request. <br /> 7. Provide technical support to the operating departments preparing and submitting <br /> request for funds, drawdowns, advances, financial performance reports, close out, <br /> etc. <br /> 8. Schedule Single Audit and coordinate preparation and distribution of single audit <br /> reports. <br /> Other Departments <br /> Provides assistance to the managing department as identified during the grant <br /> application and award process. <br /> 8-6. SINGLE AUDIT ACT REQUIREMENT <br /> Background <br /> The City is subject to the financial and compliance requirements of the Single Audit Act <br /> of 1984, amended in 1996, which is applicable to all local and state governments <br /> expending more than $750,000 in federal financial assistance during a fiscal year. The <br /> purpose of the Act is to: <br /> 1. Improve the financial management and accountability of state and local <br /> governments with respect to federal financial assistance programs. <br /> 2. Establish uniform requirements for audits of federal grants. <br /> 3. Promote efficient and effective use of audit resources. <br /> 4. Assure that federal departments and agencies rely upon and use audit work <br /> performed during a single audit rather than performing the audit work themselves. <br /> Under this Act,federal grants are included under an inclusive single audit program that <br /> is incorporated into the City's annual audit and financial report preparation process. <br /> During the audit, tests are made to determine the adequacy of the internal control <br /> structure, including that portion related to federal financial assistance programs, as <br /> well as to determine that the City has complied with applicable laws and regulations. <br /> 8-5 <br />