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Financial Accountability Budgetary Considerations.

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Presentation on theme: "Financial Accountability Budgetary Considerations."— Presentation transcript:

1 Financial Accountability Budgetary Considerations

2 Today’s Objectives  Increased accountability and scrutiny  How can we help you! ?!

3  If your name was above the door of your program…. What would the community say regarding your fiscal responsibility as you utilize THEIR money? “It takes less time to do a thing right, than it does to explain why you did it wrong.” ~Henry Wadsworth Longfellow “Live in such a way that you would not be ashamed to sell your parrot to the town gossip.” ~Will Rogers

4  Lack of Accountability or Mismanagement  Effectiveness

5 Remember your resources  EDGAR  Your manual  Your website  Your Technical Advisor  One another  Mark  Me, Chris or Jess  Your CSFO (more to come on that!)

6 We’ve got the money ~ Now what?!?!  Complete familiarity and awareness of the initial stipulations and parameters of the grant  Decisions cannot be made outside the intent of the purpose for which the grant was obtained.  Do not rely on the competency of others (CSFO’s, Superintendents, etc.) to navigate through the financial matters of the grant. You are responsible!!!!

7  Allowable  Non - Allowable

8 Basis for Allowable Costs  According to the law, all costs must be –  Necessary  Reasonable  Allocable  Legal under all federal, state and local laws

9

10 Just because it’s allowable doesn’t mean it’s prudent nor approvable!

11 Necessary ☼A cost is necessary if –  Needed for the performance or administration of your grant  Follows sound business practices  Reflects fair market prices for comparable goods or services  Do I really need this to administer the program?  Is this the minimum/maximum amount needed to meet the needs of the students?

12 Reasonable Is this cost targeted to valid programmatic/administrative considerations? Does our program have the sustainable capacity to use what we are purchasing for this program? Did we pay a fair market rate and can we prove it? If this expense were in the local newspaper ‘HEADLINES,’ would I be comfortable or completely embarrassed?

13 Allocable What does that mean?!?!?  Is everything properly allocated and accounted for, and can we prove the program benefited accordingly?  Are we within the appropriate % parameters for Administrative functions, Indirect Costs, Travel, External Evaluator, Professional Development?  Services Rendered(Contracts and Compensation)  Are all expenditures (supplies, materials, hardware, software, etc.) correctly recorded and trackable?

14 Allocable Nuts and Bolts  Salaries  Timekeeping Records  Equipment/Inventory Management  Tuition/Programmatic Income  Services Rendered (Contracts and Compensation)  Transportation  Field Trips  External Evaluator  Revisions

15 Allocable Collaboration and Cooperation  Can we prove through thorough documentation how we are effectively supporting the program with the cooperation of funding?  Narrative explanation ensuring the co- existing and coordination of funds, authorized usage, incidental benefits, etc.  AVOID at all cost….the appearance of impropriety, conflict of interest, and lack of accountability!

16 The Sandbox

17 Help?!?!?!?!?!?!?!?!?!?!?!?!?!  Your assigned consultant  Mark  Yolanda  Chris  /  Me (Paul)  /  CBO’s/FBO’s – Tina Heartsill at

18 CBO’s  For the purposes of budgetary and financial accountability of Community Based Organizations (CBO's), all expenses incurred with the utilization of 21 st CCLC funding must be well documented and maintained.  The following are examples of documentation which must be maintained and submitted to the Alabama State Department of Education (ALSDE): Invoices Receipts Purchase Orders Inventory Records Copies of all Payroll records Travel claims and expenses Sub-contract Agreements and payments **Anything purchased or paid out 21 st CCLC funding must be documentable and traceable.**

19 Practical Advise?! Questions/Concerns?!?


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