A center must maintain an accounting system and records that:
  (1) records revenue and expenditures using generally accepted accounting principles;
  (2) includes a chart of accounts that lists all accounts by an assigned number;
  (3) contains a general ledger and subsidiary ledgers;
  (4) maintains supporting documentation for all revenue and expenditures, including but not limited to:
    (A) receipts or vouchers for revenue;
    (B) bank statements reconciled to the general ledger bank accounts;
    (C) canceled checks;
    (D) deposit slips;
    (E) approved invoices;
    (F) receipts;
    (G) leases;
    (H) contracts;
    (I) time sheets;
    (J) inventory; and
    (K) cost allocation worksheets;
  (5) identifies all funding sources and expenditures by separate fund type; and
  (6) uses a double-entry accounting system: either cash, accrual, or modified accrual.

Source Note: The provisions of this §356.301 adopted to be effective December 23, 2007, 32 TexReg 9328; amended to be effective September 1, 2013, 38 TexReg 4309; transferred effective April 1, 2024, as published in the March 8, 2024, issue of the Texas Register, 49 TexReg 1507