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Page 9 <br />a. Audit Work-papers – The city’s external auditors audit all grants at the end of each fiscal year. The Finance <br />Department will prepare the required audit work- papers. Program Directors may be asked to assist in this <br />process, if necessary. <br />b. Record Keeping Requirements – Grant record keeping requirements may vary substantially from one <br />granting agency to another. Consequently, a clear understanding of these grant requirements <br />at the beginning of the grant process is vital. The Finance Department will maintain copies of <br />all grant draw requests and approved grant agreements (including budgets). The Program <br />Director should maintain all other records. <br /> <br />5. Other Guidelines – Specific information on policies and procedures related to compliance with the provisions of <br />the OMB UGG - Uniform Grant Guidance Compliance Supplement have been addressed later in this manual <br />and should be considered along with the information in this section. <br /> <br />Year-end Closing and Reporting <br />The following provisions will govern the year-end close-out process of the city for purposes of external financial <br />reporting: <br /> <br />1. To the extent that the city is required to have a single audit completed in accordance with OMB UGG - <br />Uniform Grant Guidance, the city will accumulate the information necessary to prepare a schedule of <br />expenditures of federal awards (“SEFA”) in accordance with Federal and State requirements. This <br />schedule will be characterized as follows: <br /> <br />a. The schedule will include all federal financial assistance, including: grants, contracts, property, <br />loans, loan guarantees, interest subsidies, cooperative agreements, insurance or direct appropriations. <br />Amounts will be reported whether received directly from the Federal government or through a pass- <br />through agency (in the event that the city is determined to be a sub-recipient and not a vendor). <br /> <br />b. The schedule will be prepared on the same basis of accounting as the related financial statements. <br /> <br />c. Federal awards will be grouped based on Federal awarding agency. Each Federal award with current <br />expenditures will be listed along with its CFDA number, pass-through grantor name (if applicable) <br />and award/pass-through grantor number (if applicable). Such information will agree to the award <br />documentation. <br /> <br />d. If the CFDA number of a Federal award cannot be reasonably determined, it shall be reported in the <br />schedule using the two-digit prefix for the related Federal agency, followed by “UNKNOWN”. <br /> <br />e. To the extent that amounts are passed-through to sub-recipients, a schedule of federal awards <br />provided to sub-recipients will be prepared. <br /> <br />f. In addition to current year expenditures, the schedule will list approved award/grant amount, <br />accrued/deferred revenue at the beginning of the year, current year cash received, current year actual <br />expenditures, and accrued/deferred revenue at the end of the year. If expenditures were incurred <br />relative to this award in the prior year(s), this amount should be disclosed as memorandum-only. <br /> <br />g. Any adjustments to prior year awards, expenditures, and balances (including transfers between <br />grants) will be disclosed in the footnotes to the schedule. <br /> <br />h. Accrued/deferred revenue in the schedule shall agree to the amounts recorded as receivable/deferrals <br />in the related financial statements. <br /> <br />i. To the extent that a separate line item is included in the financial statements for Federal revenue, this <br />amount shall agree to expenditures in the schedule. Any reconciling items will be disclosed in the <br />footnotes to the schedule.