Located in:
- Career and Technical Education Programs Authorized Under the Carl D. Perkins Career and Technical Education Act of 2006
- f. Financial Requirements
As noted above, in addition to the narrative information provided below, you must submit an updated budget (Item B.1a below) for the upcoming program year using the link to the Perkins State Plan Portal below.
- f. Financial Requirements
f. 1. A. You Must Describe How Your Agency Will Allocate Funds it Receives Through the Allotment Made Under Section 111, Including Any Funds That You Choose to Consolidate Under Section 202(a), Will Be Allocated Among Career and Technical Education at the Secondary Level, or Career and Technical Education at the Postsecondary and Adult Level, or Both, Including the Rationale for Such Allocation. (section 122(c)(6)(a); Section 202(c))
Current Narrative:
The DOE will comply with the applicable requirements of Titles I, II, and III of the Act. Additionally all fiscal procedures for the DOE, LEAs, and contractors will adhere to applicable state and federal regulations. The DOE will ensure recipients of funding are informed of the governing laws and regulations, which also include EDGAR 34 CFR parts 74, 74, 76, 77,79, 80, 81, 82, 84, 85, 86, 97, 98, and 99, OMB Circular A–87 Revised, and OMB Circular A–21.
Delaware’s accounting framework is structured based on Generally Accepted Accounting Principles (GAAP) using appropriations and funds to track and manage anticipated revenues and expenditures. GAAP standards are used to establish measurement and classification criteria for meaningful financial reporting. Each year, Delaware prepares the Comprehensive Annual Financial Report (CAFR) as its official record of financial activities for the State, based on national GAAP standards and guidelines.
Delaware uses the budgetary/cash basis of accounting to manage its day–to–day operations. Under the cash basis of accounting, revenues are recognized when cash is received by the State; expenditures or expenses are recognized when cash is disbursed. The State tracks expenditures by appropriation using a number of different appropriation types. Each appropriation type is identified in the State’s finance and accounting system by a unique code. The State’s appropriations represent spending authority granted by the Legislature. State agencies are not permitted to spend beyond their annual appropriated amounts. The DOE and LEAs utilize the same financial system.
Financial records and supporting documents will be kept on file in a State of Delaware office or contracted location per the Delaware Public Archives General Records Retention Schedule. The retention schedule can be reviewed at: http://archives.delaware.gov/govsvcs/general_records_retention_schedules/index.shtml.
The Delaware State Auditor’s Office is responsible for an independent audit of the DDOE operations and the 19 school districts that receive State and Federal funds. Such audits are made yearly as part of the State of Delaware A–133 Single Audit will be conducted in accordance with the generally accepted auditing standards, “Government Auditing Standards,” issued by the Comptroller General of the United States, and OMB Circular A–128, “Audits of State and Local Government” (the Single Audit Act of 1984). Copies of such audits are available in the office of DOE, Dover, Delaware, and/or the office of the Auditor General, State of Delaware as well as on the web at: http://auditor.delaware.gov/Audits/financial_compliance.shtml.