Financial Reporting How do you get your money???

Session Objectives Understand Reporting Requirements Know Reimbursement Process Be aware of Budget Revision Process

Financial Reporting MCSC requires two types of Financial Reporting –1. Monthly = PER (Periodic Expense Report) –2. Quarterly = AFR (Aggregate Expense Report)

Monthly Reporting Periodic Expense Report (PER) tracks all AmeriCorps related expenditures by budget category –Federal Funding –Match Funding PER Essentials –Due to MCSC by 15 th of each month –If 15 th is on a weekend = due the Monday after the 15 th –Report on cash basis – not accrual –Submit in OnCorps –Failure to submit in OnCorps will result in reimbursement delays

Monthly Reporting PERS are the foundation for creating the AFR PER must be supported by accounting records/general ledger –Include all expenses –Data must be accurate –Data produces AFR

Quarterly Reporting AFR tracks all AmeriCorps related in summary totals –Federal Funding –Match Funding AFR Essentials –Due to MCSC by last day of month after quarter ends –Submit in OnCorps

AFR and OnCorps How are AFRs in OnCorps created? –PERs must be created before the quarterly AFR reports can be generated –AFRs in OnCorps automatically add up all the data in the PERs for that quarter

Grant Closeouts We will be closing out the 06AF grant. Report for , , , , and program years

Reimbursements Reimbursement is made based on actual expenses Reimbursements may not be for estimated, unauthorized, or unallowable expenses Invoices must be for approved and budgeted expenditures that programs have already incurred No advances allowed

Reimbursements MCSC requires monthly reimbursement –Subgrantees/Programs must submit: 1. Request for Reimbursement Form 2. Supporting documentation, including copies of receipts/invoices 3. A copy of AmeriCorps program’s general ledger for that month 4.A copy of the payroll register related to payroll expenses 5.Documentation for all claimed match

Late Report? Prior to date: –By , request an extension –Provide reason why an extension is needed –State expected date of completion

Mail Reimbursment Requests –Attention: Kevin Edwards, Veronica Salmons or Andre Grinston –Missouri Community Service Commission –Missouri Department of Economic Development –301 W. High Street, Room 770 –P.O. Box 118 –Jefferson City, MO 65102

Budget Revisions Are done by Budget Modification Requests in OnCorps Are approved by the MCSC Cannot change more than 10% of grant without authorization from CNCS

In Conclusion Good luck and Best Wishes for a Great Program Year!!!