§ 1300.10 - Financial oversight.

(a) BIB shall grant funds to RFE/RL to support international radio broadcasting activities, and all expenditures by RFE/RL under such grants shall be made in accordance with appropriate requirements of Office of Management and Budget Circulars No. A-110 and A-122.

(b) RFE/RL shall adhere to sound accounting practices and shall maintain records fully disclosing the amount and disposition of funds granted by the BIB, including the total costs of RFE/RL programs for which grants are provided, and that portion of its expenditures supported by other sources of funds. RFE/RL will keep all financial records required by the BIB and will also submit periodic reports on the expenditures of funds, as requested.

(c) RFE/RL shall submit to the BIB copies of draft proposals for capital expenditures, consultant or professional services, or lease arrangements in all cases where the following criteria apply:

(1) When a given contract or proposal for a capital expenditure exceeds $100,000 in any fiscal year; or when any proposed lease arrangement for business premises, in the United States or overseas, will last for a period of more than two years or at an annual rental exceeding $100,000.

(2) When any individual solicitation by RFE/RL of consultant or professional services, and draft contracts for such services, including legal, actuarial and other noneditorial services with any person or organization exceed $50,000 in any single fiscal year.

(d)(1) No contract described in subparagraphs (c) (1) and (2) of this section shall be entered into by RFE/RL without prior written approval of the BIB.

(2) The dollar limitations in subparagraphs (c) (1) and (2) of this section may be revised periodically by BIB.

(e) Reports on the management of foreign currency shall be governed by special agreement between the Board and the Office of Management and Budget, and RFE/RL shall comply fully and promptly with all requirements of such agreement.

(f) Copies of all annual, quarterly, monthly or other periodic financial report, projection, statement or audit prepared by or on behalf of RFE/RL shall be made available to BIB upon issuance.

(g) RFE/RL shall make available for public inspection during normal business hours at its principal offices in the United States, a complete list of every person, organization, and government making a contribution to RFE/RL during the preceding fiscal year, the address of the person, organization, or government making the contribution, and the date the contribution was made.

(h) The Comptroller General of the United States or his representative shall have access for the purpose of audit and examination to any book, document, paper and record of RFE/RL.