1. Michigan Department of Education Great Start Readiness Program GSRP Fiscal Audits

2. GSRP Fiscal Audits Policies and Guidelines 1.State Legislation 2.Assurances and Certifications 3.GSRP Implementation Manual 4.MI Public School Accounting Manual 5.Generally Accepted Accounting Principles (GAAP)

3. GSRP Fiscal Audit Process 1. ISD Notification 2. On-Site 3. Documentation 4. Final Report 5. Compliance Plan

4. GSRP Documentation ISD General Ledger (GL) GSRP Policies and Procedures GSRP Employee List Payroll Reports Contracts – subrecipients, vendors, employees

5. GSRP Documentation MEGS+ Final Expenditure Report (FER) Carryover FER Budgets Other reports/pages as necessary

6. GSRP Documentation General Ledger: Revenues Expenses MEGS+ FER Carryover FER Budgets

7. GSRP Documentation GSRP Policies and Procedures Internal Control CARES: - Compliance -Accomplish -Relevant and Reliable -Efficiently and Economically -Safeguard

8. GSRP Documentation What policies? Where do we start? Examples of Policies and Procedures Cash Management Procurement

9. GSRP Employee List and Payroll Reports Direct GSRP Employees Salary Benefits Proration

10. GSRP Contracts Include: - Scope of services - Defined compensation - Signature of all parties w/titles - Dated - Defined period

11. GSRP Contracts GSRP Implementation Plan ISD Responsibilities section Written Agreements

12. GSRP Fiscal Audit Final Report Findings Commendations Recommendations

13. GSRP Fiscal Audit Compliance Plan Alright, all gears stop What do I do now? Steps to meet GSRP Compliance

14. GSRP Fiscal Audit Hints 1.Policies and procedures 2.Contracts 3.Allowable Costs