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 5.7 FINANCIAL MANAGEMENT

 
 

 Purpose

 

P1. To establish and maintain a financial management system that provides accurate, complete, and current disclosures by each contractor and agency receiving Job Corps funds.

P2. To maintain sufficient cost data for effective planning, monitoring, and evaluation of program activities.

P3. To ensure that expenditures of funds are necessary, reasonable, and auditable.

 

 Requirements

 

R1. Budgeting

Center operators and Outreach and Admission (OA)/Career Transition Services (CTS) contractors must assure that budgets are developed, prepared, revised, and submitted in accordance with the requirements contained in Appendices 502 (Financial Management for Center Contracts) and 503 (Job Corps Outreach/Admissions and Career Transition Services Cost Reporting and Budgeting Requirements)​.

R2. Financial Reporting

Center operators and OA/CTS contractors must assure that required monthly reports are prepared and submitted, on time, in accordance with the requirements contained in Appendices 502 and 503.

R3. Vouchering

Center operators and OA/CTS contractors must submit vouchers for the reimbursement of expenses, on time, in accordance with the procedures outlined in Appendices 502 and 503​.

R4. Internal Controls

Center operators and OA/CTS contractors must:

a. Establish internal controls to provide reasonable assurance that:

1. Management is made aware at an early stage of any situation in which available funding for contracted services is not adequate to secure the delivery of such services.

2. The integrity of the funds provided by the government is not being compromised.

3. Assets are properly safeguarded.

b. Submit written descriptions of control procedures to the Contracting Officer as part of the standard operating procedures in accordance with the schedule shown in Exhibit 5-1 (Standard Operating Procedures)​. Control procedures must include:

1. Separation of duties

2. Approval requirements

3. Documentation requirements

c. Establish procedures to regularly communicate budgetary goals and rates of expenditure to management staff who have responsibility for authorizing expenditures.

R5. Student Benefit Fund

Conduct an annual audit of the Student Benefit Fund to assure that the requirements listed in PRH Chapter 3, Section 3.19, R3 (Student Benefit Fund)​ are met.

R6. Sale of Center-Produced Goods and Services

The sale of goods produced or services rendered by students or at Job Corps centers is prohibited except in the following cases:

a. Objects or services may be sold at cost to students or center employees. For USDA Forest Service Civilian Conservation Centers (CCCs), sales to staff must be in accordance with approved agency policy.

b. Objects or services may be sold in the community when both of the following criteria are met:

1. The sale of such products or services does not represent unfair competition with private sources in the area.

2. The center has received approval from the Regional Office.

c. Vehicle repair services may be offered only when the following additional conditions are met:

1. Such services are made available to staff and the general public on an equal basis.

2. Vehicles serviced are selected on a first come, first served basis.

3. Prior to acceptance for service of any vehicle, the owner signs an agreement relieving Job Corps of any responsibility for damage, and agreeing to pay for all parts and materials.

4. Repair services shall not be provided to rebuild vehicles purchased for speculation or resale.

5. Repair of vehicles owned by non-center Department of Labor and non-center federal employees of operating agencies is prohibited.

d. The proceeds from the sale of goods must be credited to the cost category for the purchase of the materials.

e. Students cannot sell arts and crafts objects made with center-provided materials for personal profit.

f. The sale of objects made with materials purchased by the Student Benefit Fund is permitted only if proceeds are credited to the Student Benefit Fund.

R7. Taxation of Job Corps Contractors by States or Localities

If state or local taxes are levied on a center or OA/CTS contractor, the contractor must follow the procedures set forth in Appendix 504 (Taxation of Job Corps Contractors by States or Subdivisions Thereof)​​​.

 

 Exhibits

 
  
Exhibit 5-1 Standard Operating Procedures
Exhibit 5-8 2110 Report for Center Contracts
Exhibit 5-9 2181 Budget for Center Contracts
Exhibit 5-10 SF 1034 Public Invoice, Center Contract Example
Exhibit 5-11 Voucher Back-up Sheet for Center Contracts and Example
Exhibit 5-12 2110 Report for Outreach and Admissions and Career Transition Services
Exhibit 5-13 2110S Report for Staff Vacancies
Exhibit 5-14 2181 Budget for OA and CTS Contracts
Exhibit 5-15 SF 1034 Public Invoice, OA and CTS Contracts and Example
Exhibit 5-16 Voucher Back-up Sheet for OA and CTS Contracts and Example
Exhibit 5-17 2110F Job Corps CCC Financial Report
Exhibit 5-18 2110 HQ Job Corps CCC National Roll-Up Financial Report
Exhibit 5-20 Job Corps Emergency Funding Request Report
Exhibit 5-21 B1 CRA - ETA 2110 Reconciliation
 

 Appendices

 
  
Appendix 502 Financial Management for Center Contracts
Appendix 503 Job Corps OA and CTS Cost Reporting and Budgeting Requirements
Appendix 504 Taxation of JC Contractors by States or Subdivisions Thereof
Appendix 509 Financial Management for CCCs