$ PARK- Fiscal Update

“$PARK - FISCAL UPDATE” Year 3 Financial Reporting & Cost Share Tuesday, August 19 | 2:15 pm – 2:45 pm (New) Thursday, August 21 | 1:30 pm – 1:45 pm (All)

 Background: Who Does What?  Great News About Years 1 and 2  Still True & Important In Year 3  Year 3 Points of Emphasis  Next Steps For New Coordinators / Assistants

► NAU is the Fiscal Agent for Arizona GEAR UP  Primary responsibility for fiscal reporting to USDOE  Assist with compliance (of all partners) with federal cost principles  Ensure match obligation is satisfied ► Arizona GEAR UP School Partners (Statewide)  Enter into formal agreement with NAU  Superintendent designates “fiscal liaison” or “fiscal representative”  Fiscal liaison prepares/submits monthly financial packets (federal funds and match) ► GEAR UP Coordinators and Assistants  Follow district policies and procedures when purchasing items  Assist fiscal liaisons with monthly financial reporting and documentation of cost share

► School Partners are reimbursed after expenditures (both federal and match) are reported according to Agreement guidelines and approved for payment ► Reported federal and match expenditures are governed by federal cost principles and subject to audit review, and thus, financial reporting and documentation standards on accuracy, thoroughness, and timeliness are high

Is the expense:  Necessary to implement the program?  Reasonable?  Allocable to program objectives?  Compliant with GEAR UP administrative regulations?  Consistently treated?

Is the expense:  In the Work Plan & Budget?  Compliant with district procedures?  Justifiable to taxpayers?

 Include both GEAR UP (Reimbursement) & Match  Require supporting documentation, including:  Time & Effort Forms  Cost Share Contribution Forms

 Familiarize yourself with your Year 3 work plan and budget  Follow district fiscal operations procedures  Continue assisting with financial packets  Continue submitting T&E forms ( for yourself and others )  Continue capturing & documenting match

 Please be sure you are using the latest versions of the Time & Effort and Cost Share Contribution Forms

“…there is a very high burden of proof to show that paying for food and beverages with Federal funds is necessary to meet the goals and objectives of a Federal grant…there may be some circum- stances where the cost would be permissible…” From “Using Federal Grant Funds to Host A Meeting or Conference” [May 2013]

Before purchasing food/drinks, GEAR UP Coordinators must have submitted an Event Notification Form (two weeks in advance)….

 In Year 3, we will continue to handle significant changes to work plans and budgets through formal modifications, through NAU’s Office of Grant & Contract Services  Facilitate through your designated Site Support Specialist

 Facilities => value of space allocated to house Coordinators and Assistants  School Personnel => value of time spent on GEAR UP tasks contributed by key people in your District (besides teachers)  Real World Design Challenge => teacher-led team of students competes in an engineering challenge (

 Introduce yourself to your district’s GEAR UP fiscal liaison, offer your assistance with fiscal operations (but understand that completing monthly financial packets is not your job)  Familiarize yourself with your work plan and budget, as well as your organization’s purchasing policies / procedures  Establish systems for completing /submitting Time & Effort forms monthly (both your own and others)  Begin capturing and documenting match (frequently / intentionally)

Questions?