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AC 150/5100-10A 4/13/76 <br />h. Statement and Distribution of ADAP Project Costs and Cost Credits, <br />Appendix 1. Each ADAP sponsor shall prepare a Statement and <br />Distribution of ADAP Project Costs and Cost Credits or its equivalent <br />to record project cost and cost credits for each individual project. <br />Columns provide space for recording the date, payee, check number, <br />voucher number, amount, and a distribution of project costs. Cost <br />credits are recorded as reductions of project costs. This worksheet <br />should be available at the time of the audit by FAA representatives. <br />i. Statement and Distribution of PGP Project Costs; Appendix 2. Each <br />PGP sponsor shall prepare a Statement and Distribution of PGP Project <br />Costs or its equivalent to record project costs for each individual <br />project. Columns provide space for recording the date, payee, check <br />number, amount, voucher number, and a distribution of project costs. <br />This worksheet should be available at the time of audit by FAA <br />representatives. <br />22. SOURCE AND APPLICATION OF FUNDS. <br />a. Standard. Each sponsor shall maintain records which identify <br />adequately the source and application of funds for grant -supported <br />activities. These records shall contain information pertaining to <br />grant awards and authorizations, obligations, unobligated balances, <br />assets, liabilities, outlays, and income. <br />b. Interpretation. Source of funds would include (1) the sponsor's <br />matching share, (2) reimbursements or advance payments by FAA, and <br />(3) revenue generated from land uses or other grant -related activi- <br />ties. Application of funds relates to obligation/expenditures for <br />eligible project work covered by the grant agreement. <br />23. CONTROL AND ACCOUNTABILITY. <br />a. <br />Standard. Each sponsor shall maintain effective control over and <br />accountability for all funds, property, and other assets. Sponsors <br />shall adequately safeguard all such assets and shall assure that <br />they are used solely for authorized purposes. <br />b. Requirements. The sponsor is required to establish and maintain a <br />property management system for the utilization and disposition of <br />property furnished by the Federal Government or acquired in whole <br />or part with Federal funds. Such system must be in accordance with <br />the property management standards contained in FAR 152, Appendix L. <br />(See Appendix 3.) <br />Page 10 <br />Chap 2 <br />Par 21 <br />• <br />i <br />