This policy specifies the minimum requirements that must be maintained by subrecipients of WIOA Title I funds for their financial management system.
Financial systems must allow for effective fiscal and internal controls and accountability for funds, property, and other assets to ensure they are used solely for the authorized purposes. All subrecipients must maintain all data elements used in required federal reports in accordance with established program definitions contained in the Act, regulations, and state policies.1
Each grantee must ensure that the financial management systems of their subgrantees meet the above listed standards.
If the grantee's financial management system fails to meet the standards set forth in this section, DWD-DET will require corrective action by a specific date. Grantees who fail to take corrective action in the time given are subject to having costs withheld or disallowed.