Transcript Gap Analysis System

Perkins Fiscal Procedures and
Requirements for Managing
the Funds-Postsecondary
Carl D. Perkins Career Technical Education Act of 2006
1
Today’s Presenters
Minnesota State Colleges and Universities
Shannon Kohlman
Business Manager
Finance Division
[email protected]
651-201-1756
Judy Bradford
Grants Accountant,
Finance Division
[email protected]
651-201-1770
JoAnn Simser, Ed.D.
Debra Hsu, Ed.D.
State Director,
Associate Director,
Career Technical Education
Career Technical Education
Academic and Student Affairs
[email protected]
651-201-1686
Academic and Student Affairs
[email protected]
651 201-1650
2
Goals
• Review accounting procedures designed to
address reporting requirements
• Clarify two different ways college fiscal hosts
receive reimbursement—cash draws and
invoicing
• Explain the process for accurately drawing
down and receipting the funds expended
Slide 17
FY2015 Perkins CTE Budget for Minnesota
October 1, 2014 Allocation
A
Title 1 Assistance to States
B
Title 11 (Tech Prep) Allocation
Total Award
C
D
16,684,637.00
26 Consortia (85% of total award)
A+B
0.85 * C
16,684,637.00
14,181,941.45
E
Basic Grant (90% of the 85%)
0.90 * D
12,763,747.31
F
Secondary Programs 42%
0.42 * E
5,360,773.87
G
Postsecondary Programs 58%
0.58 * E
7,402,973.44
0.1002 * D
1,418,194.15
H
Reserve (10% of the 85%)
I
Secondary Programs 42%
0.42 * H
595,641.54
J
Postsecondary Programs 58%
0.58 * H
822,552.60
K
State Leadership (up to 10%)
0.10 * C
1,668,463.70
L
Secondary Programs 37% (change from prior yr. 44%)
0.44 * K
617,331.57
M
Postsecondary Programs 67% (change from prior yr 56%)
0.56 * K
1,051,132.13
N
State Institutions, max of 1% of total award
O
Non Traditional Training, must spend $60 - $150K
P
PS State Leadership Initiatives
Q
R
50,000.00
60,000.00
State Administration (5%)
0.05 * C
Fiscal Agent responsibility--Post-Secondary (5% of 5%)
S
Remainder to be split
T
U
941,132.13
M-N-O
834,231.85
41,711.59
0.05 * Q
Q-R
792,520.26
Postsecondary (50%) change from prior yr. 65%
0.65 * S
396,260.13
Secondary (50%) change from prior yr 35%
0.35 * S
396,260.13
Total Award
D+K+Q
16,684,637.00
FY15 Local Consortium Award Allocations
•
Slide 17
FY15 Local Consortium Perkins Plan Approval
Notification and Fiscal Information including the
award was emailed to the Superintendent and
the President at the fiscal host district and
college with copies to local consortium fiscal
and Perkins contacts upon state approval of the
local consortium plan after July 1, 2014
Sample Perkins CTE Award Letter
Basic and
Reserve
Allocations
Forward
Funding
Reallocation Award Letter—coming later
Prior Year
Reallocation
FIFO
2013-2014 Unexpended Consortium Funds
Recaptured and Reallocated in FY15
•
Local consortium contacts will need to review their
approved FY15 local application and decide where
to make necessary budget changes
•
Fiscal hosts and Perkins contacts will need to
submit an adjusted Secondary and Post Secondary
Budget to add the reallocated basic and reserve
allocation on the FY15 Budget Summary .
– http://www.applyheremn.org/index.do
Slide 17
Sample Consortium Budget Summary
http://www.applyheremn.org/index.do
3.1 Local Application Budget Changes
Budget changes of $10,000 within a goal must be
preapproved by the system office CTE staff-send an email
request to the state CTE director.
College coordinators must receive written email approval
before expenditure is made.
•
Perkins IV Operational Handbook, Section III Financial Requirements, p. 24-36
http://www.cte.mnscu.edu/consortia_resources/documents/Operational_Handbook_(4-2-10).pdf
Why Multiple GL’s?
•
Federal requirements stipulate
that each Grant Award activity
deliver reports with the
following attributes:
 Data
consistency
 Report
 Clear
reproducibility
Audit trail
 Ability
to create consolidated
annual report
GL’s Assigned by System Office
• State fiscal year runs from July 1 through June 30.
• Use of different General Ledgers to ensure full
transparency across years:
Name
FY15
Basic
384151
Reserve
384152
Reallocation
•
Basic
384141
•
Reserve
384142
Chart of Account Set-up:
Business Office at System Office (SO)
assigns four GL numbers
SO directs all colleges to use ONLY
the assigned GL’s for their accounting
systems
For Basic Grant, each fiscal contact
college creates a minimum of six cost
centers—five cost centers linked to the
five goals in their plan and one
administration cost center
Business Office at each consortium fiscal
contact college loads its budgets in
accordance with its awarded grant dollars into
its accounting systems
Cash Draw Expenditure
Reimbursement Process
System Office Grant Accountant communicates new
Perkins Grant G/Ls at the start of each fiscal year
College loads budgeted amounts into Perkins Grant G/Ls
from Consortium Award Notification letter
College spends budgeted amounts
from Perkins Grant G/Ls
System Office Grant Accountant reviews College Expenditures
and draws Perkins funds accordingly
System Office Grant Accountant enters
the SWIFT Deposit by College
System Office Grant Accountant notifies each College the amount
of the cash draw/SWIFT deposit; College receipts the cash draw.
Receipting the Cash Draw
Revenue should be receipted to a cost center
within the G/L where expenditures incurred:
• Either receipt to each CC where expenditures
incurred
• Or receipt to one CC within the G/L
• Revenue should be receipted to object code
9401 with a “Y” Flag
Cash Draw Considerations
Grant Accountant will be sending funds for the
GL’S that are assigned by the system office.
The system office will not send any funds in
excess of the allocated amounts.
How State Leadership Dollars
are Expended
• Intra-agency agreement between system office
and the receiving college
• http://www.finance.mnscu.edu/contractspurchasing/contracts/forms/index.html
• Intra-agency agreement for Temporary
Special Assignment of Personnel• http://www.hr.mnscu.edu/intraagency_agreement/index.html
• In FY15 the System Office will not be issuing
Perkins Agreements. We will use Intra-agency
agreements.
Intra-agency agreements
between system office and college
http://www.finance.mnscu.edu/contracts-purchasing/contracts/forms/index.html
http://www.hr.mnscu.edu/intra-agency_agreement/index.html
• The college sets up a separate cost center within a NONPERKINS GL for each intra-agency agreement.
• To receive reimbursement:
 College invoices system office for expenditures
incurred under the agreement
 System office pays the college
 College reduces their expenditures by the amount
paid
3.5 Financial Cost Centers
5. Sub-grants GL
Sub-grants may be made from one college to
another recipient
• Entity receiving the funds
• Pays from the source-the Basic GL, Reserve GL, or
Reallocated GL
• Will invoice the fiscal agent for expenses incurred and when
received will receipt the funds by crediting Grant Revenue
- The entity granting the funds
• Will pay the invoice and when they pay the invoice they will
Debit Grant revenue
• They will be reimbursed through a system office draw and
receipt as a credit to Grant Revenue
Year End Considerations
The System Office will perform a year end reconciliation of
the Perkin’s grant ensuring that all institutions have been
reimbursed for all expenses incurred and that there is no
overspending.
There will be quarterly monitoring of GL balances to ensure
each institution is using the proper GL’s.
Consortium Monitoring
System office will conduct fiscal audit and
visits as part of the consortium monitoring
process at designated consortia in FY15
 Schedule and procedure:
http://www.cte.mnscbu.edu/directories/portal.html#Criteria
 Perkins IV Monitoring visits and fiscal
audits were conducted at all 26 consortia in
FY 10- FY13
 Targeted Monitoring visits including desk
fiscal audits are being conducted in FY14,
FY15 and until Perkins is reauthorized.
Perkins CTE Federal Resources:
Perkins Act P.L. 109-270
http://www2.ed.gov/policy/sectech/leg/perkins/index.html
US Department of Education General
Administrative Regulations EDGAR
• Code of Federal Regulations CFR
http://www2.ed.gov/policy/fund/reg/edgarReg/edgar.html
Office of Management and Budget--OMB
Circulars
http://www.whitehouse.gov/omb/circulars_default
Perkins MN Financial Resources
Local Consortium Applications
•
http://www.applyheremn.org
Perkins IV Operational Handbook-Section III Financial
Requirements
http://www.cte.mnscu.edu/consortia_resources/documents/Operational
_Handbook_(4-2-10).pdf p. 24-36
Monitoring Visits and Financial Audits
http://www.cte.mnscu.edu/directories/portal.html#Criteria
Frequently Asked Questions
Home page-right side
www.cte.mnscu.edu/index.html
FAQs www.cte.mnscu.edu
Time for your questions…
25
A note about CEUs …
Teachers can get certificate (1 hour) within
two weeks of completing the session
evaluation for today’s webinar.
NOTE: Since there is no teacher CEU preapproval
process, it is up to the local continuing education
committee to decide whether or not these hours will
apply to your teaching license renewal.
26
Materials
Webinar recordings, presentation PowerPoints
www.cte.mnscu.edu/professionaldevelopment/
finance-and-accountability.html
MDE Office of Career and College Success
http://education.state.mn.us/MDE/StuSuc/CareerEd/index.html
MnSCU Career and Technical Education
www.cte.mnscu.edu/
27
2014 Fiscal Webinars
Perkins CTE Requirements and Uses
of Funds - Secondary and Postsecondary
Wednesday, September 24, 2014
10:00-11:00 a.m.
Treatment of Money Detail - Secondary
Monday, September 29, 2014
2:00 p.m-3:00 p.m.
Treatment of Money Detail - Postsecondary
Tuesday, September 30, 2014
2:00 p.m-3:00 p.m.
www.cte.mnscu.edu/professionaldevelopment/index.html
28
2014 Accountability Webinars
Perkins Accountability I
- Secondary & Postsecondary
Tuesday, September 23, 2014
9:00-10:00 a.m.
Perkins Accountability II - Postsecondary
Tuesday, September 23, 2014
11:00 a.m-12:00 p.m.
Perkins Accountability II - Secondary
TBD in October, 2014
29
www.cte.mnscu.edu/professionaldevelopment/
finance-and-accountability.html
Upcoming Events
Perkins Consortium Coordinators Meeting
November 12, 2014
Normandale Community College
www.cteworksminnesota.org/registration/
coordinators-meeting/
CTE Works! Minnesota Summit on Excellence
in Career & Technical Education
November 13, 2014
Crowne Plaza Minneapolis West, Plymouth, MN
www.cteworksminnesota.org
30
Today’s Presenters
Minnesota State Colleges and Universities
Shannon Kohlman
Business Manager
Finance Division
[email protected]
651-201-1756
Judy Bradford
Grants Accountant,
Finance Division
[email protected]
651-201-1770
JoAnn Simser, Ed.D.
Debra Hsu, Ed.D.
State Director,
Associate Director,
Career Technical Education
Career Technical Education
Academic and Student Affairs
[email protected]
651-201-1686
Academic and Student Affairs
[email protected]
651 201-1650
31
Thanks for joining us today!
We value your feedback about today’s session.
Please click on the link in the chat window
now to complete the Webinar Evaluation