1. Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators WELCOME Fiscal Indicators for Youth Development Agencies

2. Fiscal Literacy: Overview of Fiscal Indicators Youth Development Agencies Kenya Merritt – Director Terry Sims – Accountant Technician Arthur Baron – Accountant Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

3. What we will discuss today? The relationship between the following Indicators to your agency’s established foundation. Budgeting Indicators Invoicing Indicators Tracking and Reporting Indicators Additional Indicators UNDERSTANDING YOUR FISCAL CORE Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

4. What is an Indicator? A signal for attracting attention UNDERSTANDING YOUR FISCAL CORE Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

5. Budget Development Critical Questions in Program Budget Development Who are you serving? What is the proposed program? Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

6. Budget Development Critical Questions in Program Budget Development When does your program operate? Where is your program located? How much does it cost? How are you going to pay for it? Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

7. Budget Development Out of School Mentoring Counseling Training Summer Only Regional Consortium Centers (RCC) Youth Career Development Center (YCDC) Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

8. What are the demographics of your participants Low – Moderate Income only/Mixed income model Age of participants Number of participants Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

9. How much staff do you need What is your staffing ratio Programmatic Staff Administrative Staff Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

10. When does the program operate Daily Partial Week Summer Only As Scheduled Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

11. Where will the programs operate Rent space Own space Free facilities Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

12. How much does it cost and how are you going to pay for it Single source Multiple sources Private donors Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

13. Indicators Your agency develops its budget based on the maximum award amount listed in the RFP Budget is based on projected program costs Your agency does not know how many children they will serve until the RFP Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

14. Indicators Your agency wide budget mirror its DFSS program budget Budget includes funding from other sources Agency staff is allocated based on time spent on the program Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Budget Development

15. Budget Exercise Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

16. Invoicing Development Monthly vouchering is contractually required – Section 5.2 Voucher submission – fiscal report for CYS Invoicing should mirror program operations CFO and/or signature authority is knowledgeable of invoicing process Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

17. Invoicing Development

18. Your agency uses the correct forms. – Youth Development voucher forms can be downloaded from the following: (http:cys.mycopa.com) Are you sending them to the correct department? –All youth development vouchers should be submitted to CYS Fiscal Youth Unit – 1615 W. Chicago, 4 th Floor Chicago, IL 60622 Are they signed and originals submitted? Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Invoicing Development

23. Invoicing Indicators Your agency vouchers bi-monthly, quarterly or even annually Your agency consistently misses the voucher deadline of the 15 th of the following month Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

24. Your agency consistently receives deletions that are not understandable Your agency does not have a process in place to address and/or respond to deletions in a timely manner Your agency does not have a plan for incurring program expenses Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Invoicing Development

25. Your agency vouchers bi-weekly when personnel is budgeted. Your agency prepares a monthly expense plan, including programmatic and administrative costs projections Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Invoicing Development

26. Your agency has a process to log expenses on the invoice form as they are incurred Your agency develops a soft file (scan copy) that includes a copy of each voucher and supplemental documentation Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Invoicing Development

27. Your agency monitors payments versus your request Your agency requests an explanation for deletions, if you do not understand them. Your agency resubmits for valid costs within one week from the notification of deletions and track payments Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Invoicing Development

28. Your agency submits for new personnel titles, non-personnel not budgeted or different allocations. Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Invoicing Development

29. Invoices Exercise Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

30. Monthly fiscal reports are presented to Program Staff, Executive Staff and the Board of Directors Grant Utilization is not monitored Fiscal Statements/Reports are not reviewed and analyzed Fiscal records are not accurately maintained Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Tracking and Reporting Indicators

31. Fiscal documentation received from CYS is compared to internal fiscal reports Payments are cross-referenced using data from the web Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Tracking and Reporting Indicators

37. The fiscal staff develops reports for Executive Agency staff including the Board of Directors and Program Staff Monthly expenses are compared to budgeted costs and spending plan to determine if budget revision is warranted (projections should also be included) Fiscal staff are knowledgeable of OMB Circulars and CYS procedures Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

38. Fiscal documentation to substantiate expenses are kept electronically and on file in an organized manner Fiscal calendar is developed to ensure deadlines are met Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Tracking and Reporting Indicators

39. Sample Tracking Systems Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

40. Additional Indicators Key fiscal staff position(s) are vacant and remain vacant in excess of 3 months Budgeted positions remain vacant Fiscal Staff are not aware of processes and/or staff are not in receipt of correspondence from CYS Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

41. It’s a priority to hire key fiscal staff and other budgeted positions New fiscal staff contact FSS Fiscal Youth Unit for an appointment within 2 weeks of start date for technical assistance Budget revisions are submitted in a timely manner and approved by the Youth Services Coordinator Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Additional Indicators

42. Fiscal staff communicates regularly with the Executive Staff and Program Staff regarding any received correspondence from trainings/meetings Fiscal staff monitors COPA, CitySpan and the City of Chicago websites for updated information. Fiscal and Executive staff knowledgeable of OMB Circulars (Cost principles A-122) and CYS fiscal procedures Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Additional Indicators

43. Communication Tools Staff attends the 3 rd Thursday trainings Staff are aware of the various tools of communication: –Web (http://cys.mycopa.com) –Email (cysfiscalyouth@cyscopa.com) –Fiscal Hotline (312.743.7475) Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

44. Office of Budget and Management – City of Chicago –Oversees CDBG RFP –Mayoral Recommendations –Manages CDBG Grant Youth Division –Reviews budget/budget revisions –Monitors agency’s fiscal performance Comptroller’s Office –Approves budget/budget revisions –Monitors agency’s fiscal performance Partnerships Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

45. Important Dates –15 th of each month prior month voucher due –March 17 Youth Ready Chicago RFP –April Financial Statements are mailed –May 2009 Application Period Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators

46. –September Financial Statements are mailed –October Budget Revisions are due –October Mayoral Recommendation released –January 15 th Final vouchers including resubmissions are due Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal Conference – Fiscal Indicators Important Dates

47. Enjoy the remainder of the Conference Continue to build your fiscal foundation