B. Compliance Requirement All assets such as moveable equipment should be – recorded on the LEA’s/charter school’s fixed asset system according to the LEA’s/charter school’s capitalization policy, available from the finance officer or assets manager. Audit Objective To determine that asset acquisitions such as moveable equipment – were recorded and coded by PRC on the LEA’s/charter school’s fixed asset system according to the LEA’s/charter school’s capitalization policy. Suggested Audit Procedures: Review LEA’s/charter school’s fixed asset report and their capitalization policy. Determine that asset acquisitions such as moveable equipment were recorded on the LEA’s/charter school’s fixed asset system according to the LEA’s/charter school’s capitalization policy. 9. Procurement and Suspension and Debarment A. Compliance Requirement Obligations must be incurred in accordance with state – purchasing requirements. (G.S. 143-48 through 143-64.5) Audit Objective To determine that obligations were incurred in accordance with state – purchasing requirements. Suggested Audit Procedures: Select a sample of general expenditure disbursements made from the appropriate Federal Grant Fund: Determine that purchases met the state purchasing requirements found in G.S. 143-48 through 143-64.5. B. Compliance Requirement LEAs/charter schools are prohibited from entering into – a contract with a that has been suspended or debarred by the State of North Carolina. Audit Objective To determine that the LEA/charter school has not entered into a – contract with a party that has been suspended or debarred by the State of North Carolina. Suggested Audit Procedure Verify that the LEA/charter school has not entered into a – contract with a party that has been suspended or debarred by the State of North Carolina. A list of debarred parties can be found at: . C. Compliance Requirement LEAs/charter schools are prohibited from using federal – funds for a procurement transaction with a party that has been suspended or debarred by the federal government. To determine that the LEA/charter school has not used federal funds Audit Objective – for a procurement transaction with a party that has been suspended or debarred by the federal government. Suggested Audit Procedure Verify that the LEA/charter school has not used federal – funds for a procurement transaction with a party that has been suspended or debarred by the federal government. A list of debarred parties can be found at: .
B. Compliance Requirement – All assets such as moveable equipment should be recorded on the LEA’s/charter school’s fixed asset system according to the LEA’s/charter school’s capitalization policy, available from the finance officer or assets manager. Audit Objective – To determine that asset acquisitions such as moveable equipment were recorded and coded by PRC on the LEA’s/charter school’s fixed asset system according to the LEA’s/charter school’s capitalization policy. Suggested Audit Procedures: Review LEA’s/charter school’s fixed asset report and their capitalization policy. Determine that asset acquisitions such as moveable equipment were recorded on the LEA’s/charter school’s fixed asset system according to the LEA’s/charter school’s capitalization policy. 9. Procurement and Suspension and Debarment A. Compliance Requirement – Obligations must be incurred in accordance with state purchasing requirements. (G.S. 143-48 through 143-64.5) Audit Objective – To determine that obligations were incurred in accordance with state purchasing requirements. Suggested Audit Procedures: Select a sample of general expenditure disbursements made from the appropriate Federal Grant Fund: Determine that purchases met the state purchasing requirements found in G.S. 143-48 through 143-64.5. B. Compliance Requirement – LEAs/charter schools are prohibited from entering into a contract with a that has been suspended or debarred by the State of North Carolina. Audit Objective – To determine that the LEA/charter school has not entered into a contract with a party that has been suspended or debarred by the State of North Carolina. Suggested Audit Procedure – Verify that the LEA/charter school has not entered into a contract with a party that has been suspended or debarred by the State of North Carolina. A list of debarred parties can be found at: . C. Compliance Requirement – LEAs/charter schools are prohibited from using federal funds for a procurement transaction with a party that has been suspended or debarred by the federal government. Audit Objective – To determine that the LEA/charter school has not used federal funds for a procurement transaction with a party that has been suspended or debarred by the federal government. Suggested Audit Procedure – Verify that the LEA/charter school has not used federal funds for a procurement transaction with a party that has been suspended or debarred by the federal government. A list of debarred parties can be found at: .
DPI-0-2016.docx