What fiscal record-keeping requirements apply to an LEA or a school with respect to federal funds that are consolidated in a SWP?
An LEA must be able to show the amount of funds from each Federal education program for each grant year that was consolidated in the single SWP account the LEA allocated to a SWP school. The LEA may use any reasonable method to demonstrate how federal funds that were consolidated in a SWP have been expended. For example, the LEA could allocate expenditures of federal funds consolidated in a SWP school in proportion to the amount of funds allocated to the school under each Federal program. A school operating a SWP that consolidates in a single account and uses, in a SWP, funds from other federal education programs administered by the Secretary (except Reading First) is not required to maintain separate fiscal accounting records, by program, that identify the specific activities supported by those program funds. The school must, however, maintain records that demonstrate that the SWP, considered as a whole, addresses the intent and purposes of each of the federal education programs whose
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