Regulation .28 Audits.
Regulation .28 Audits.LinkCopy Citation
A.
The IAC or its designee may conduct financial audits and compliance audits of each LEA that receives State funds.
B.
Audit items may include:
(1)
Transactions and balances reported on financial reports and close-out forms;
(2)
LEA internal controls and management authorizations;
(3)
Items ineligible for State participation; and
(4)
Compliance with 'IAC regulations and IAC policies and procedures.
C.
The LEA shall reconcile audit exceptions and back charges to the IAC's or its designee's satisfaction.