purchases ownership under an award (including but not limited to curricula, training models, technical assistance products, and any related materials). Such uses include, but are not limited to, the right to modify and distribute such products worldwide by any means, electronically or otherwise. Federal funds may not be used to pay any royalty or license fee for use of a copyrighted work, or the cost of acquiring by purchase a copyright in a work, where the Contractor has a license or rights of free use in such work. If revenues are generated through selling products developed with contracted funds, including intellectual property, these revenues are program income. Program income is added to the project and must be expended for allowable project activities (refer to the Income” segment of this Manual). If applicable, the following “Program wording needs to be on all products developed in whole or in part with contracted funds: workforce product was funded by a grant awarded by the U.S. “This Department of Labor’s Employment and Training Administration. The product was created by the Subrecipient and does not necessarily reflect the official position of the U.S. Department of Labor. The Department of Labor makes no guarantees, warranties, or assurances of any kind, express or implied, with respect to such information, including any information on linked sites and including, but not limited to, accuracy of the information or its completeness, timeliness, usefulness, adequacy, continued availability, or ownership. This product is copyrighted by the institution that created it. Internal use by an organization and/or personal use by an individual for non-commercial purposes is permissible. All other uses require the prior authorization of the copyright owner.” BONDING REQUIREMENTS Bonding is an agreement between a bonding or insurance company and an entity whereby the insurance or bonding company guarantees payment of a specified dollar amount as damages, in the event covered employees cause financial loss to the entity. Bonding requirements ensure that the DWD is indemnified against financial losses caused by officers and employees who hold fiduciary positions with Subrecipients. All Subrecipient personnel or their subrecipients who have access to or control funds received from the DWD and/or deposit DWD funds must be bonded to provide protection against losses. In addition, individuals who may handle mail or assist in the preparation or distribution of checks or any financial documents must also be covered by the bond. The following guidelines must be followed;
purchases ownership under an award (including but not limited to curricula, training models, technical assistance products, and any related materials). Such uses include, but are not limited to, the right to modify and distribute such products worldwide by any means, electronically or otherwise. Federal funds may not be used to pay any royalty or license fee for use of a copyrighted work, or the cost of acquiring by purchase a copyright in a work, where the Contractor has a license or rights of free use in such work. If revenues are generated through selling products developed with contracted funds, including intellectual property, these revenues are program income. Program income is added to the project and must be expended for allowable project activities (refer to the “Program Income” segment of this Manual). If applicable, the following wording needs to be on all products developed in whole or in part with contracted funds: “This workforce product was funded by a grant awarded by the U.S. Department of Labor’s Employment and Training Administration. The product was created by the Subrecipient and does not necessarily reflect the official position of the U.S. Department of Labor. The Department of Labor makes no guarantees, warranties, or assurances of any kind, express or implied, with respect to such information, including any information on linked sites and including, but not limited to, accuracy of the information or its completeness, timeliness, usefulness, adequacy, continued availability, or ownership. This product is copyrighted by the institution that created it. Internal use by an organization and/or personal use by an individual for non-commercial purposes is permissible. All other uses require the prior authorization of the copyright owner.” BONDING REQUIREMENTS Bonding is an agreement between a bonding or insurance company and an entity whereby the insurance or bonding company guarantees payment of a specified dollar amount as damages, in the event covered employees cause financial loss to the entity. Bonding requirements ensure that the DWD is indemnified against financial losses caused by officers and employees who hold fiduciary positions with Subrecipients. All Subrecipient personnel or their subrecipients who have access to or control funds received from the DWD and/or deposit DWD funds must be bonded to provide protection against losses. In addition, individuals who may handle mail or assist in the preparation or distribution of checks or any financial documents must also be covered by the bond. The following guidelines must be followed;
dwd_financial_manual-july_2016.docx