Montana Arts Council Financial-Compliance Audit for the Two Fiscal Years Ended .. 2000

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The council implemented three recommendations and partially implemented two recommendations.
The first recommendation partially implemented relates to monitoring and drawing federal funds (see page 5). The second partially implemented recommendation involves proper recording of federal indirect cost recovery revenue (see page 9).
Page 3 Page 4 Findings and Recommendations Federal Compliance During the audit period, the National Endowment for the Arts (NEA) provided federal assistance to the cou
...ncil. The council is responsible for the oversight of federal awards, which includes monitoring expenditures, requesting cash when needed, subrecipient monitoring, and providing the Schedule of Expenditures of Federal Awards (SEFA) to the governor's Office of Budget and Program Planning (OBPP). We noted three areas where the council can improve its compliance with federal requirements. The following sections discuss our findings.
Cash Management Federal regulations require the methods and procedures used for requesting funds to minimize the time elapsing between the request for funds and subsequent disbursement.


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