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