Center operators and other service providers must manage Job Corps funds using financial management information systems that meet the specifications and requirements of the Secretary.
These financial management systems must:
Provide accurate, complete, and current disclosures of the costs of their Job Corps activities;
Ensure that expenditures of funds are necessary, reasonable, allocable, and allowable in accordance with applicable cost principles;
Use account structures specified by the Secretary;
Ensure the ability to comply with cost reporting requirements and procedures issued by the Secretary; and
Maintain sufficient cost data for effective planning, monitoring, and evaluation of program activities and for determining the allowability of reported costs.
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