20CFR670.670.950 - What are the financial management responsibilities of Job Corps center operators and other service providers?

Content Last Revised: 4/15/99
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CFR
Code of Federal Regulations Pertaining to ETA

Title 20
Employees' Benefits

Chapter V
Employment and Training Administration, Department of Labor

Part 670
The Job Corps Under Title I of the Workforce Investment Act

Subpart I
Administrative and Management Provisions

20 CFR 670.950 - What are the financial management responsibilities of Job Corps center operators and other service providers?

Section Number: 670.950
Section Name: What are the financial management responsibilities of Job Corps center operators and other service providers?

    (a) Center operators and other service providers must manage Job 

Corps funds using financial management information systems that meet 

the specifications and requirements of the Secretary.

    (b) These financial management information systems must:

    (1) Provide accurate, complete, and current disclosures of the 

costs of their Job Corps activities;

    (2) Ensure that expenditures of funds are necessary, reasonable, 

allocable and allowable in accordance with applicable cost principles;

    (3) Use account structures specified by the Secretary;

    (4) Ensure the ability to comply with cost reporting requirements 

and procedures issued by the Secretary; and

    (5) Maintain sufficient cost data for effective planning, 

monitoring, and evaluation of program activities and for determining 

the allowability of reported costs.