1. Grant & Categorical Processes Understanding Reporting Deadlines and Fiscal Responsibilities Dec 2014 Office of Administrative Services

2. Purpose of MC Grant Process Map This refined process is designed –to standardize reporting timelines and –assign responsibilities –to eliminate confusion and to provide spot on timely reporting both the District and to Grant Monitors

3. Quick Notes There are many issues with setting up the grants properly as well as reporting issues surrounding grants. Setting up a grant requires specific TOPS Codes for activities A separate Grant Code designator whether it is a Federal, State, or a Local Grant. Everything must be taken into consideration to insure the setup of the grant is correct for District reporting needs AND grant reporting needs.

4. Setting up a New Grant

5. Setting up a New Grant What to be aware of… What type of grant is it? Is the grant a Sub-Grant? What is the Grant Number (Face Sheet) Within our District? Or Outside? What is the Fiscal Year of the Grant? What is the length of the grant? What is the Grant Number (Face Sheet) Face Sheet Filing: –P/Admin Services/Grants –Sharepoint coming Federal? State? Local? What type is the originating grant? Does it lie within or outside of our District’s fiscal year? What are the reporting parameters?

9. Mid-Year Fiscal Review Target December or January annually A Mid-Year Review determines if practices are in line with your Grant Workplan –Helps to ensure that fiscal responsibilities are timely Consider –Reassign time? Timesheets? Stipends, Contracts, Etc… –Purchase Orders: Have I purchased items necessary per the Workplan? –Is my Budget in line with the Workplan? IF not, Why and what to do? –Have I met my performance objectives?

11. Mini-Close Mid year review and Mini-Close are steps toward successful and timely Year-End Close The Mini-Close in April will assist the Grant Managers in reviewing their outstanding issues to insure a smooth fiscal year end close as needed for their final reports. Goal is to simplify & streamline Year-End Close Target for Mini Close Prep: Mid-March

12. Mini-Close Preparation for ACTUAL Fiscal Year End Close— Examine actual spend vs budget and make adjustments Is Budget in line with upcoming expenses? Is Budget updated with Grant Administrator? –Do I need to do a Budget Transfers? »Grant Monitor approval? –Can PO’s be closed? –Clean up receivables and payables? –Spending plan for remaining funds. Has all reassign time been posted? Have all Timesheets been turned into Payroll? Are all Accounts in order ?

13. Mini-Close [April]

14. Grant Year-End Close Fiscal Year End Close starts July 1st as Fiscal Year End is June 30th. Preparation happens every day. New process requires more vigilant grant budget monitoring throughout the year.

15. Grant Year-End Close What To be aware of… Have PO’s been received and spent? –Have your purchase orders been properly invoiced? –Remaining PO’s must be closed if the items are received Timesheets: Have they been submitted to payroll? Budget Transfers: Is your budget aligned to your spending plan? Budget Changes, has your Grant Monitor been notified AND has the budget change been approved? Expense Transfers – what expenses are needed to close your grant year? Reassign time? Indirect Costs? Etc….. Preparation, planning and attention to details are the keys to successful close

16. Questions? IF you HAD to close today, could you do it successfully? For Mission College –Queenie Chan – x5231 –Doug Masury – x5581 For District [after you have exhausted College resources] –Sandy Dinh – X2051 We are here to help you towards your successful fiscal management of your grant[s]..