Professional Documents
Culture Documents
1.
tory
a
l
u
Reg remen
equi
R
. nal
0
ts
1 er
s
l
t
o
In ntr
Co
2. W
ritt
&
Pro en Po
ced licie
ure
s
s
EFFECTIVE
9.
Reporting
8. Matching
Requiremen
ts & In-kind
Contributio
ns
FINANCIAL
MANAGEMENT
7. Time &
Activity
Documentatio
n
6. Budget
Controls
3.
Documentatio
n of Expenses
4. Managing
Cash
5.
Efficient
Accountin
g System
Regulatory Requirements
Organization follows OMB Circulars
and staff are aware of the regulations
All staff should be familiar with grant
provisions and guidelines
Individuals are aware of specific
matching requirements and are
spending grant funds proportionately
to match funds
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45 CFR 2543
Grants and Agreements with Institutions of
Higher Education, Hospitals, and Other
Nonprofit Organizations
45 CFR 2543
Grants and Agreements with Institutions of
Higher Education, Hospitals, and Other
Nonprofit Organizations
OMB Circular No. A-122
Cost Principles for Nonprofit Organizations
OMB Circular No. A-133
Audits of States, Local Governments, and
Non-Profit Organizations
9
45 CFR 2541
Grant and Cooperative Agreements to State
and Local Governments
OMB Circular No. A-102:
Cost Principles for State, Local and Indian
Tribal Governments
OMB Circular No. A-133:
Audits of States, Local Governments, and NonProfit Organizations
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http://www.whitehouse.gov/
OMB/circulars/index.html
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2.
Documentation of Expenses
All staff are familiar with documentation
requirements for CNCS grants
All expenses have supporting documentation
that directly relates to expense to CNCS grant
Organization has proper record retention policy
Documentation supports expenditure
requirements: reasonableness, necessity,
allocability, allowability, and adherence to grant
guidelines
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17
generally
Do Not Include:
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20
Limitation by Statute
Administrative costs cannot
exceed 5% of total Corporation
funds actually expended under
this award.
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Administrative Costs
Two methods to recover administrative costs
Approved cost allocation plan
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Fixed 5%
If approved on a case-by-case basis by
the Corporation, the grantee may charge,
for administrative costs, a fixed 5% of
the total of the Corporation funds
expended. In order to charge this fixed
5%, the grantee match for administrative
costs may not exceed 10% of all direct
cost expenditures. These rates may be
used without supporting documentation
and are in lieu of an indirect cost rate.
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4.
Managing Cash
Organization has adequate cash to meet
obligations
Organization is requesting funds on a regular
basis
Advance requests (if used) are timed so funds
are spent within three days for grantee or
thirty days for sub-grantees
Perform monthly bank reconciliations with
financial records
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27
Budget Controls
A properly approved budget is:
7.
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37
38
Mature
Program/Project
GRANTEES
SHARE
GRANTEES
SHARE
CORPORATIONS
SHARE
CORPORATIONS
SHARE
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40
AmeriCorps
Match Requirements
Documenting In-Kind
Contributions Received
Document the basis for determining the value of personal
services, material equipment, building, and land. Obtain
acknowledgement of the contribution which should
include:
* Name of donor
* Date and Location of donation
* Description of item/service
* Estimated value
Keep a copy of the receipt in your files.
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Description of Contributed
Item(s) or Service
Real or Approximate
Value of Contribution
Was Contribution
Obtained With or
Supported By
Federal Funds?
(If so, indicate
source)
Phone #:
Title:
Date:
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45
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47
Financial Statements
In-Kind Contributions Examples
Teach Tech
Statement of Activities
March 31, 2002
Revenues and Other Support
AmeriCorps Grant
56,000
Contributions
21,544
77,544
Expenses
Salaries and Living Expenses
Benefits
Consultants
Staff travel
Supplies
Communications
Rent
Donated Services
Depreciation expenses
Other expenses
39,400
7,000
1,000
1,000
6,000
1,050
12,000
3,544
4,000
1,590
Total Expenses
76,584
960
6,000
12,000
3,544
21,544
300,416
$
301,376
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FINANCIAL STATEMENT
WITHOUT IN-KIND
CONTRIBUTIONS
Teach Tech
Statement of Activities
March 31, 2002
Revenues and Other Support
AmeriCorps Grant
56,000
56,000
Expenses
Salaries and Living Expenses
Benefits
Consultants
Staff travel
Communications
Depreciation expenses
Other expenses
39,400
7,000
1,000
1,000
1,050
4,000
1,590
Total Expenses
55,040
960
300,416
$
301,376
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9.
Reporting
All Financial reports must be supported by the
accounting system and should match the
information in the general ledger
Final financial status report is due within 90
days after the end of the grant and must be
cumulative over the life of the grant
Financial records must be retained for three
years from the date of the submission of the
final Financial Status Report (SF 269A) to CNCS
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10.
Internal Controls
Organization has developed and communicated rules
of operations to employees and members
Follow-up is done to ensure that expectations are
met
Financial duties are properly segregated
Accounting system tracks grant and matching funds
separately
Accounting system is used to create financial reports
Proper safeguards over assets exist
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