View all text of Part 1315 [§ 1315.1 - § 1315.20]
§ 1315.3 - Responsibilities.
Each agency head is responsible for the following:
(a) Issuing internal procedures. Ensuring that internal procedures will include provisions for monitoring the causes of late payments and any interest penalties incurred, taking necessary corrective action, and handling inquiries.
(b) Internal control systems. Ensuring that effective internal control systems are established and maintained as required by OMB Circular A-123, “Management Accountability and Control.”
1
1 For availability of OMB circulars, see 5 CFR 1310.3.
(c) Financial management systems. Ensuring that financial management systems comply with OMB Circular A-127, “Financial Management Systems.”
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2 See footnote 1 in § 1315.3(b).
(d) Reviews. Ensuring that Inspectors General and internal auditors review payments performance and systems accuracy, consistent with the Chief Financial Officers (CFO) Act requirements.
(e) Timely payments and interest penalties. Ensuring timely payments and payment of interest penalties where required.