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Andrew S. Johnson Grants Management Specialist Montana Postsecondary Perkins Winter Training Perkins Fiscal Management February 26, 2014.

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Presentation on theme: "Andrew S. Johnson Grants Management Specialist Montana Postsecondary Perkins Winter Training Perkins Fiscal Management February 26, 2014."— Presentation transcript:

1 Andrew S. Johnson Grants Management Specialist Montana Postsecondary Perkins Winter Training Perkins Fiscal Management February 26, 2014

2 Perkins and Fiscal Management Perkins IV Law –Perkin IV Questions and Answers (non-regulatory guidance) Education Department General Administrative Regulations (EDGAR) Office of Management and Budget Omni Circular 2

3 Perkins and Fiscal Management Perkins IV Law-Relevant fiscal sections Section 111-Reservations and State Allotments –Determines State by State allocation after Perkins appropriation finalized Section 112 Within State Setasides –Line item floors and ceilings within a State Perkins grant –State administration-Section 112 (a)(3) Not more than 5% of the grant or $250,000 whichever is greater –State administration match Section 112 (b) –State leadership-Section 112 (a) (2) Not more than 10% of the grant –State Institutions-Not more than 1% of the grant –Non traditional-not less than $60,000 and not more than $150,000 –No funds may be expended on administrative activities 3

4 Perkins and Fiscal Management Section 112 Within State Setasides (continued) –Local Uses of Funds-Section 112 (a)(1) Not less than 85% of the grant State determines secondary/postsecondary split with these funds 5% administrative cap (includes indirect costs) –10% Reserve-Section 112 (c) »Not more than 10% of local uses of funds »Eligible Institutions must meet 1 of 3 criteria in section 112 (c) to be eligible for funding 4

5 Perkins and Fiscal Management Section 311 Fiscal Requirements –Section 311 (a) Supplement not supplant OMB Circular A-133 Compliance Supplement (June 2013) –Part 4 (US Department of Education »Cross Cutting Section and Perkins program specific section –Section 311 (b) Maintenance of Effort State Expenditures for Career and Technical Education Aggregate or Per-Student Basis Section 323 State Administrative Costs –Administrative Hold Harmless –State expenditures cannot be lower than preceding year even if these expenditures exceed State match 5

6 Perkins and Fiscal Management Perkins IV Grant Non-Regulatory Guidance (Questions and Answers) –Located on Perkins Peer Collaborative Networks (PCRN) –Website Address Addresses all aspects of the Perkins IV law to include Fiscal issues –Examples of Fiscal issues »Small State minimum (States that receive $4,214,921) »CTSO allowable expenditures »Direct assistance to students »Remedial Education 6

7 Perkins and Fiscal Management Education Department General Administrative Regulations (EDGAR) Part 76 State Administered Programs State Plan submissions Applying to the State for a sub-grant Allowable Costs Indirect Cost rates Part 80 Uniform Administrative requirements Financial management systems standards Equipment and supplies Financial reporting Closeout of grants 7

8 Perkins and Fiscal Management Office of Management and Budget (OMB) Omni Circular Will supersede requirements of OMB Circulars A-21,A-87,A-110,A-122, A-89,A-102, A-133, and the guidance in Circular A-50 on Single Audit follow-up Final guidance released in December 2013 (Federal Register) Consolidation of the circulars aims to provide one source location/citation for guidance related to the administrative, cost principles, and audit requirements of Federal awards Implementation Date –Still not finalized –Most likely this will apply to the Perkins grants that become available to States on July 1, 2015 Information on the web –https://cfo.gov/cofar/https://cfo.gov/cofar/ 8


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