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1/31/79 AC 150/5900-1B • • CHAPTER 4. ADMINISTRATION AND MONITORING OF PLANNING PROJECTS 40. GENERAL. This chapter discusses the reporting requirements and administrative procedures necessary in conducting a planning study under the PGP. 41. FINANCIAL MANAGEMENT SYSTEM REQUIREMENTS. AC 150/5100-10 and FAR Part 152 contain the financial management standards which must be maintained during the period of the grant. To insure compliance with these standards, FAA audit personnel may periodically review financial management systems. Sponsors will be notified of the results of any periodic reviews within 30 days of their completion. Where reviews indicate noncompliance, FAA will provide the sponsor with the necessary assistance to correct the deficiencies and will cease making advance payments until the problems are corrected. If after this assistance the sponsor is still unwilling or unable to comply with the standards, FAA may suspend or terminate the grant. 42. PROJECT MONITORING. Sponsors are responsible for a continual monitoring of PGP projects to assure that time schedules are being reasonably met, projected work elements are being satisfactorily accomplished, expenditures are reasonable and justified, and other performance goals are being achieved. 43. FINANCIAL REPORTS. The following financial reports are required (original and two copies) in the frequency noted. Costs shall be reported on an accrual basis. Completed samples of these forms are shown in Appendix 1, Exhibits 3 and 4. a. Report of Federal Cash Transactions, FAA Form 5100-62. This report is required when funds are advanced to sponsors through letters -of -credit or with Treasury checks. It shall be submitted within 15 working days following the end of each quarter, except that no submission is necessary if a request for payment advance has not been made during that same report quarter. Identical information submitted in a machine -usable format is acceptable. b. Financial Status Report, FAA Form 5100-63. This report is required at the completion of the final study report. Note that contractual, force account, and administrative costs are reported separately. 44. PROJECT STATUS REPORTS. In addition to the above reports, a project status report shall be submitted quarterly and at the completion of the project. This report shall contain a narrative as to the progress of the study including a comparison of actual accomplishments to the original proposed schedule (show percentages of completed work by various work elements), reasons for slippage, if any, reports of significant meetings, the status of special problems which may affect the timely prosecution of the project, and other information considered pertinent. Between reporting dates, Chap 4 Par 40 23