---
kind: "section"
citation: "30 C.F.R. § 735.25"
title: "30"
number: "735.25"
heading: "Financial management."
url: "https://uscodex.org/cfr/30/735.25"
---

# §735.25. Financial management.

- (a) The agency shall account for grant funds in accordance with the requirements of Office of Management and Budget Circular No. A-102. Agencies shall use generally accepted accounting principles and practices, consistently applied. Accounting for grant funds must be accurate and current.
- (b) The agency shall adequately safeguard all funds, property, and other assets and shall assure that they are used solely for authorized purposes.
- (c) The agency shall provide a comparison of actual amounts spent with budgeted amounts for each grant.
- (d) When advances are made by a letter-of-credit method, the agency shall make drawdowns from the U.S. Treasury through its commercial bank as closely as possible to the time of making the disbursements.
- (e) The agency shall support accounting records by source documentation.
- (f) The agency shall design a systematic method to assure timely and appropriate resolution of audit findings and recommendations.

## Notes

### Authority

Authority: Secs. 201, 501, and 502, Pub. L. 95-87, 91 Stat. 445 (30 U.S.C. 1201).

### Source

Source: 42 FR 62706, Dec. 13, 1977, unless otherwise noted. Redesignated at 44 FR 15312, Mar. 13, 1979.