WPOWER HUB WORK PLANNING & PROGRAM REVIEW RETREAT FINANCE PRESENTATION LANGATA TRAINING CENTER 26 JUNE 2015

TEAM MEMBERS JESIJERI ALBERT- PROGRAM ACCOUNTANT JAVAN LEWELA- FINANCE MANAGER

OBJECTIVES Management of inflows and outflows of funds Monthly, Quarterly and Annual reporting of financial transactions Ensure the Hub activities are adequately financed Documentation in support of all payments

USAID Rules & Regulations Guidelines Guided by 2 CFR 200 –General provisions, definitions, award requirements 2 CFR 700 Organization policy and procedures CFR-Code of Federal Standards Cooperative Agreement. A legal instrument of financial assistance between a Federal awarding agency or pass-through entity and a non-Federal entity Important to read and understand all conditions attached to agreement i.e. if the agreement has condition for cost share ensure these funds are available.

Terminologies commonly used Disallowed costs- Those charges to a Federal award that the Federal awarding agency or pass-through entity determines to be unallowable with applicable Federal Regulations Equipment- It is a tangible personal property (including information technology systems) having useful life of more than one year whose per unit acquisition cost equals or exceeds lesser of the capitalization level established by the non-Federal entity for financial statement purposes or $ 5,000

Terminologies commonly used- cont’d Expenditures – Charges made by non-Federal entity to a project or program for which a Federal award was received Program Income- Gross Income earned by the no-Federal entity that is directly generated by a supported activity or earned as a result of Federal award during the period of performance except as provided in 200.307 Para (f) Allocable costs- if goods and services involved are chargeable or assignable to federal award

Terminologies commonly used- cont’d Allowable costs- Whose costs are chargeable to the Federal award or pass through entity. Cost Principle- The application of these cost principles is based on the fundamental premises that; General provisions on policy guide are observed That non-Federal entity is responsible for administration of Federal award through sound management practices That it assumes responsibility in administering of Federal funds in manner consistent with underlying agreements, objectives and terms and conditions

Terminologies commonly used- cont’d Allowable, Reasonable costs and allocable Prior approval i.e. items of capital in nature or unusual items within the agreement whose value is $5,000 & above. Items requiring prior approval 2 CFR 200.407 2 CFR 700 deals more with administrative requirements, cost principles and Audit requirements for Federal awards

PROGRAM BUDGET SUMMARY

EXPENDITURE 2014-MAY 2015

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