MASBO NEW CLERKS ACADEMY
In the MASBO NEW CLERKS ACADEMY, handling Fund 15 grants can be challenging. Auditors pay close attention to Fund 15, likening it to a black hole that can be overwhelming. This guide emphasizes the importance of setting up and tracking grants diligently to avoid pitfalls and stay compliant with reporting requirements.
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Presentation Transcript
MASBO NEW CLERKS ACADEMY Working with Grants and Dealing with Monsters
Grant Management Grants and the Nebulous Fund 15 Fund 15 as defined by the state and OPI can be very confusing Fund 15 is a black hole that can and will suck in anything not otherwise assigned Auditors pay a lot of attention to grants in Fund 15 If you are not careful, Fund 15 will eat you alive
Grant Management Setting Up Grants Try and have a discussion with the grant manager when they are applying Set expectations Reporting requirements Important dates Possible limitations It s good to have this discussion every year with recurring grants and whenever there is a change in the grant manager
Grant Management Setting Up Grants(cont.) Grants do not need to be coded to Fund 15 in your financial system Using a different fund code for each grant makes tracking simpler It is easier for grant managers to understand Report generation is less tedious Project Reporter Codes (PRC) PRC Codes can change each year Set up a block of PRC s that can be tied to a grant and change each successive year 100-109 can be changed each year to match to the fiscal year, i.e. 100 ties to FY2020
Grant Management Tracking and Maintaining Grants Be diligent in tracking grants through out the year Reconcile monthly This will help eliminate a mad scramble at the end of the year OPI has a handy spreadsheet for a limited number of funds Fund_15_Recap_Worksheet.xlsx Create your own spreadsheet Detailed Workbook.xlsx Use these spreadsheets for auditors, for balancing purposes, and to create supporting documents for cash requests and as additional checks and balances. Work closely with the county Treasure to correct errors as soon as they are identified
Grant Management Tracking and Maintaining Grants(cont.) Be familiar with grants, particularly local grants These can have odd reporting requirements and allowable cost restrictions Make sure you are tracking and reporting allowable cost for the grant Allowable Necessary and reasonable to the performance and administration of the project Authorized or not prohibited by state or local laws or regulations
Grant Management Tracking and Maintaining Grants(cont.) Unallowable Entertainment Excess of costs over the grant amount Termination pay OPI and auditors pay close attention to what you report
Grant Management Closing out grants Monthly tracking and reporting should make closing out grants fairly easy Make sure you know the grant end date and close out date Federal September 30 State June 30 Local Can vary Be ready to close out as soon as all expenditures are accounted for i.e. payroll processed and invoices received This Photo by Unknown Author is licensed under CC BY-ND
Grant Management Indirect Costs What are Indirect Costs A costs of doing business that are charged to the General Fund Accounting/Payroll HR Special Education Admin Title I Admin Can be viewed as another revenue to offset General Fund Cost Can be spend as designated by the Board Reduces the amount available for the grant s purpose Must be approved by OPI to apply
Grant Management Questions
