R277-724-4. New and Renewing Institution Performance Standards

(1) A new or renewing institution shall ensure to the Superintendent at the time of approval or renewal that: (a) the institution is financially viable and program funds are spent and accounted for consistent with the requirements of federal law and regulations; (b) the institution and participating facilities operate in accordance with federal law and regulations; and (c) the institution has internal controls and other management systems in effect allowing for fiscal accountability and the CACFP to operate in accordance with federal law and regulations. (2) The Superintendent shall regulate and ensure that these performance criteria are met consistent with federal law and regulations.