Maine Statutes
§ 5 §1660-F — Standard accounting practices
Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 4 FINANCE·Ch. 148-C MAINE UNIFORM ACCOUNTING AND AUDITING PRACTICES ACT FOR COMMUNITY AGENCIES
The commissioner shall adopt rules no later than 180 days after July 3, 1995 that must contain the requirements for the state report for the department and, at a minimum, the following requirements.
1.Accounting systems and reporting.
Community agencies shall maintain an accounting system in accordance with rules adopted by the commissioner. The rules must require annual financial reporting to the department. The annual reporting requirements and the related dollar thresholds of accountability are as follows.
2.Internal control structures.
A community agency shall maintain and utilize internal control structures adequate to provide reasonable assurance that federal, state and other funds are managed and expended in compliance with applicable laws, rules and agreement terms.
3.Access to
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Legislative History
PL 1995, c. 402, §C2 (NEW). RR 1997, c. 2, §9 (COR). PL 2005, c. 519, §SS2 (AMD). PL 2021, c. 10, §§3, 4 (AMD).
Nearby Sections
14
§ 5 §1660
Independent public accountant audits§ 5 §1660-A
Report§ 5 §1660-C
Short title§ 5 §1660-D
Definitions§ 5 §1660-E
Report§ 5 §1660-F
Standard accounting practices§ 5 §1660-G
Standard audit practices§ 5 §1660-H
Rulemaking§ 5 §1660-I
Responsibilities of parties§ 5 §1660-J
Nonparticipating department§ 5 §1660-K
Emergency provision§ 5 §1660-L
Advisory Committee to the Commissioner§ 5 §1660-M
Appeals