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Fiscal Monitoring: Ensuring Accountability of Your Sub-Grantees

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Presentation on theme: "Fiscal Monitoring: Ensuring Accountability of Your Sub-Grantees"— Presentation transcript:

1 Fiscal Monitoring: Ensuring Accountability of Your Sub-Grantees
Kristina Tecce Walker & Company LLP

2 Purpose for Monitoring
Ensure Compliance & Program Quality Provide Technical Assistance and Support Share information Ensure Accountability Communicate Concerns Gather Best Practices

3 Fiscal Site Visit Goals
Effective system of internal control and accountability Accounting transactions are recorded properly and timely General ledger is consistent with financial reporting Source documentation to support recent FSR is available Match is properly documented and recorded (including in-kind)


5 Selecting Projects for Onsite Monitoring
Use risk assessment tool to assess risk Various risk factors Grantee Funding levels Staff Turnover (either Fiscal or Program) Number of years as grantee Prior issues Audit findings Time since last visit

6 Pre-Visit Review materials in preparation for visit
FSR (269) and Reimbursement Requests Egrants Budget Review previous site visit and recent correspondance Review A-133 Audits and/or available financial reports Review Member enrollment and hours

7 Items to Review/Request
Accounting manual/written fiscal policies & procedures Print out from Chart of Accounts where grant expenses are reported Recent FSR Supporting ledger for recent payment request Most recent reconciled bank statement

8 Items to Review/Request
Staff time sheets Cost allocation methodology memo Segregation duties checklist Budget to actual expenses variance analysis Source document to support all expenses reported (federal & non-federal) on FSR for the period under review Indirect Cost Agreement (if applicable) Other items as applicable

9 Compliance Monitoring
FSR Review Based on information obtained in previous questions as well as general ledger print out are expenses Reasonable Allowable Necessary Make sure that General Ledger is consistent with approved budget and recent FSR

10 Compliance 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.

11 Compliance Monitoring
Match cash resources How 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?

12 Compliance Monitoring
In-kind Documentation Do forms or vouchers include Name of donor Date of donation Description of item/service Estimated value (should come from donor) Donor signature Is value appropriate?

13 Compliance Monitoring
Accounting records Using chart of accounts, Are there different codes within the accounting system to separately track grant funds and match? Segregation of duties Who reconciles bank statement? Who signs checks? Ensure that more than one person is involved in processes.

14 Post Visit Findings & Follow-up Work with Grants Officer
Discuss issues Determine appropriate corrective action Follow-up in writing with Grantee Set deadlines for follow-up items

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