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Playing by the Rules: A Handbook for CDBG ... - City of El Cajon

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<strong>Playing</strong> <strong>by</strong> <strong>the</strong> <strong>Rules</strong><br />

A <strong>Handbook</strong> <strong>for</strong> <strong>CDBG</strong> Subrecipients on Administrative Systems<br />

Exercise <strong>for</strong> Chapter 2.0 — Financial Management<br />

Circle <strong>the</strong> Correct Answer<br />

1. Which <strong>of</strong> <strong>the</strong> following are components <strong>of</strong> an organization’s system <strong>of</strong> internal controls<br />

<strong>for</strong> financial management<br />

(a)<br />

(b)<br />

(c)<br />

(d)<br />

(e)<br />

Written procedures and policies.<br />

Specified job responsibilities.<br />

Job qualifications.<br />

Accounting records.<br />

All <strong>of</strong> <strong>the</strong> above.<br />

2. The sole purpose <strong>of</strong> accounting records is to provide reliable and up-to-date in<strong>for</strong>mation<br />

on <strong>the</strong> cash controlled <strong>by</strong> an organization or agency.<br />

TRUE<br />

FALSE<br />

3. An expenditure <strong>by</strong> a subrecipient will be considered an allowable <strong>CDBG</strong> expense if it is<br />

necessary to carry out an approved activity and is not explicitly prohibited <strong>by</strong> Federal,<br />

state, or local regulations.<br />

TRUE<br />

FALSE<br />

4. Source documentation does not have to be located in <strong>the</strong> <strong>CDBG</strong> project files.<br />

TRUE<br />

FALSE<br />

5. An effective system <strong>of</strong> budget controls requires a periodic comparison <strong>of</strong> actual<br />

obligations and expenditures to planned obligations and expenditures, and to projected<br />

accomplishments <strong>for</strong> such outlays.<br />

TRUE<br />

FALSE<br />

Chapter 2–19

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