$PARK- Fiscal Update
$PARK- Fiscal Update
“$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 circumstances where the cost would be permissible…”
From “Using Federal Grant Funds to Host A Meeting or Conference” [May 2013]
http://www2.ed.gov/policy/fund/guid/eposbul/gposbul.html
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 (http://www.realworlddesignchallenge.org/)
 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?