Presentation on theme: "Fiscal Monitoring: Ensuring Accountability of Your Sub-Grantees"— Presentation transcript:
1Fiscal Monitoring: Ensuring Accountability of Your Sub-Grantees Kristina TecceWalker & Company LLP
2Purpose for Monitoring Ensure Compliance & Program QualityProvide Technical Assistance and SupportShare informationEnsure AccountabilityCommunicate ConcernsGather Best Practices
3Fiscal Site Visit Goals Effective system of internal control and accountabilityAccounting transactions are recorded properly and timelyGeneral ledger is consistent with financial reportingSource documentation to support recent FSR is availableMatch is properly documented and recorded (including in-kind)
5Selecting Projects for Onsite Monitoring Use risk assessment tool to assess riskVarious risk factorsGrantee Funding levelsStaff Turnover (either Fiscal or Program)Number of years as granteePrior issuesAudit findingsTime since last visit
6Pre-Visit Review materials in preparation for visit FSR (269) and Reimbursement RequestsEgrants BudgetReview previous site visit and recent correspondanceReview A-133 Audits and/or available financial reportsReview Member enrollment and hours
7Items to Review/Request Accounting manual/written fiscal policies & proceduresPrint out from Chart of Accounts where grant expenses are reportedRecent FSRSupporting ledger for recent payment requestMost recent reconciled bank statement
8Items to Review/Request Staff time sheetsCost allocation methodology memoSegregation duties checklistBudget to actual expenses variance analysisSource document to support all expenses reported (federal & non-federal) on FSR for the period under reviewIndirect Cost Agreement (if applicable)Other items as applicable
9Compliance Monitoring FSR ReviewBased on information obtained in previous questions as well as general ledger print out are expensesReasonableAllowableNecessaryMake sure that General Ledger is consistent with approved budget and recent FSR
10Compliance Monitoring Personnel/Staff Expenditures-Critical to ensure time and activity is appropriate-Salary charges to the grant should be based on actual time or a periodic (monthly/quarterly) reconciliation of budgeted time to actual time worked.Are there staff that work less that 100% on grant or work on two grants? Be sure to examine allocations.
11Compliance Monitoring Match cash resourcesHow does the organization record donations for match?How are these funds tracked?Is program meeting 15% non-federal match for stipends?Is program meeting operational match?
12Compliance Monitoring In-kind DocumentationDo forms or vouchers includeName of donorDate of donationDescription of item/serviceEstimated value (should come from donor)Donor signatureIs value appropriate?
13Compliance Monitoring Accounting recordsUsing chart of accounts, Are there different codes within the accounting system to separately track grant funds and match?Segregation of dutiesWho reconciles bank statement?Who signs checks?Ensure that more than one person is involved in processes.
14Post Visit Findings & Follow-up Work with Grants Officer Discuss issuesDetermine appropriate corrective actionFollow-up in writing with GranteeSet deadlines for follow-up items