12-4-112 - State agency contract guidelines. - Tennessee Statutes

12-4-112. State agency contract guidelines.

Any state agency, when entering into contracts with any such organizations which agree to provide services to third parties, shall, subject to approval by the commissioner of finance and administration and the comptroller of the treasury, establish guidelines for such organizations. These guidelines will define the responsibility and prescribe procedures to be followed by the contracting agencies including, but not limited to, the use of generally accepted accounting procedures, sound business practices, and compliance with related state and federal regulations regarding the fiscal policies of such nonprofit organizations. The guidelines established shall be used as prerequisites for the state's agreement to provide matching or other state funds or federal funds or entering into a third party contract.

[Acts 1976, ch. 785, § 2; T.C.A., §§ 9-708, 9-7-108.]