---
kind: "section"
citation: "49 C.F.R. § 29.506"
title: "49"
number: "29.506"
heading: "What standards apply to a Tribe's financial management systems when carrying out a compact and funding agreement?"
url: "https://uscodex.org/cfr/49/29.506"
---

# §29.506. What standards apply to a Tribe's financial management systems when carrying out a compact and funding agreement?


The following standards apply to a Tribe's financial management systems when carrying out a compact and funding agreement:

- (a) The system must expend and account for funds included in a funding agreement in accordance with:
  - (1) The compact and funding agreement;
  - (2) All statutory requirements applicable to the funding source; and
  - (3) **Applicable provisions of 2 CFR part 200.**
- (b) The fiscal control and accounting procedures of a Tribe's financial management system must be sufficient to:
  - (1) Permit the preparation of reports required by applicable Federal law, the compact, funding agreement, and this part; and
  - (2) Permit the tracing of program or project funds to a level of expenditure adequate to establish that the funds have not been used in violation of any restrictions or prohibitions contained in any statute or provision of [2 CFR part 200](/cfr/2/part200.md) that applies to the funds included in the compact and funding agreement.

## Notes

### Authority

Authority: 23 U.S.C. 207

### Source

Source: 85 FR 33504, June 1, 2020, unless otherwise noted.