... this Guide include, but are not limited to: administrators, financial management specialists, grants management specialists, accountants, and auditors. These individuals are to use the Guide ... and will account for expenditures. 11Chapter 4: Managing Federal Funds Highlights from this chapter: • Financial Management System Requirements • Recipient and Subrecipient Accounting ... Federal Funds Financial Management System Requirements All recipients are required to establish and maintain accounting systems and financial records to accurately account for funds awarded...