1. Fiscal Monitoring: Ensuring Accountability of Your Sub-Grantees
Kristina Tecce
Walker & Company LLP

2. Purpose for Monitoring
Ensure Compliance & Program Quality
Provide Technical Assistance and Support
Share information
Ensure Accountability
Communicate Concerns
Gather Best Practices

3. Fiscal Site Visit Goals
Effective system of internal control and accountability
Accounting transactions are recorded properly and timely
General ledger is consistent with financial reporting
Source documentation to support recent FSR is available
Match is properly documented and recorded (including in-kind)

5. Selecting Projects for Onsite Monitoring
Use risk assessment tool to assess risk
Various risk factors
Grantee Funding levels
Staff Turnover (either Fiscal or Program)
Number of years as grantee
Prior issues
Audit findings
Time since last visit

6. Pre-Visit Review materials in preparation for visit
FSR (269) and Reimbursement Requests
Egrants Budget
Review previous site visit and recent correspondance
Review A-133 Audits and/or available financial reports
Review Member enrollment and hours

7. Items to Review/Request
Accounting manual/written fiscal policies & procedures
Print out from Chart of Accounts where grant expenses are reported
Recent FSR
Supporting ledger for recent payment request
Most recent reconciled bank statement

8. Items to Review/Request
Staff time sheets
Cost allocation methodology memo
Segregation duties checklist
Budget to actual expenses variance analysis
Source document to support all expenses reported (federal & non-federal) on FSR for the period under review
Indirect Cost Agreement (if applicable)
Other items as applicable

9. Compliance Monitoring
FSR Review
Based on information obtained in previous questions as well as general ledger print out are expenses
Reasonable
Allowable
Necessary
Make sure that General Ledger is consistent with approved budget and recent FSR

10. Compliance Monitoring
Personnel/Staff Expenditures
-Critical to ensure time and activity is appropriate
-Salary charges to the grant should be based on actual time or a periodic (monthly/quarterly) reconciliation of budgeted time to actual time worked.
Are there staff that work less that 100% on grant or work on two grants? Be sure to examine allocations.

11. Compliance Monitoring
Match cash resources
How does the organization record donations for match?
How are these funds tracked?
Is program meeting 15% non-federal match for stipends?
Is program meeting operational match?

12. Compliance Monitoring
In-kind Documentation
Do forms or vouchers include
Name of donor
Date of donation
Description of item/service
Estimated value (should come from donor)
Donor signature
Is value appropriate?

13. Compliance Monitoring
Accounting records
Using chart of accounts, Are there different codes within the accounting system to separately track grant funds and match?
Segregation of duties
Who reconciles bank statement?
Who signs checks?
Ensure that more than one person is involved in processes.

14. Post Visit Findings & Follow-up Work with Grants Officer
Discuss issues
Determine appropriate corrective action
Follow-up in writing with Grantee
Set deadlines for follow-up items