Transcript Riverside Community College District Grants Office

Riverside Community
College District
Grants Office
Year-End Closing Requirements for
Project Directors
Recommendations
• Monitor program activities and expenditures
early and often throughout the fiscal year
• Avoid spending large amounts of funds at the
end of a grant year, especially if it is the end of
a multi-year award period
• Assess the need to provide notification of the
expiration of a specially funded program per
California Education Code
Required Notifications
• Academic staff
– Are entitled to a March 15th notice (California
Education Code Section 44951)
– Administrators may have retreat rights
• Classified staff
– Are entitled to a minimum of 45 days notice
(California Education Code Section 88017)
– May have union-related bumping rights
– May opt to voluntarily demote
– Retain reemployment rights for 39 months
Year-End Closing Requirements
• Remain cognizant of year-end purchasing
deadlines and plan authorizations accordingly
– Grants are subject to all year-end purchasing
deadlines
– If a budget transfer is needed to re-allocate funding
between major object code categories, transfer will
require board approval
Year-End Closing Requirements
• Request and process all final payments for the
current fiscal year
– Special project time sheets
• If work not to be completed in the academic term, special
project should be closed out
• Summer term hours through June 30th should be
submitted as soon as the work is completed
– Time sheets for hourly employees
– Vendor invoices
– Invoices related to sub-awards and contract
agreements
– Itemized expense requests for travel
– Mileage reports
Year-End Closing Requirements
• Purchase orders are encumbered. If an entity to
whom you have authorized funds on a purchase
order invoices for more or less than what was
encumbered, you will either need to have an
add-on processed or make a request to
disencumber the remaining funds
Year-End Closing Requirements
• Plan in advance for authorizations that will need
to be in place at the start of the upcoming fiscal
year and process them ahead of time
– If the authorization requires board approval
(e.g. contract agreement over $76,700), submit it to
the board in the current fiscal year (there is no board
meeting in July)
Year-End Closing Requirements
• What it means when the grant year extends
beyond the college fiscal year
• Projecting costs for the remaining grant year
– Staff salaries
• Salaries of permanent staff are only encumbered through
the end of the fiscal year, however, you can include salary
costs that extend beyond the fiscal year in the adopted or
revised budget
• Costs for special projects or hourly staff are not
encumbered
Year-End Closing Requirements
– Statutory benefits
• What they are: STRS, PERS, SUI, FICA, Medicare,
Workers Compensation
• 2009-10 rates
– Certificated @ 11.31%
– Classified @ 18.969%
– Hourly @ 3.06%
Year-End Closing Requirements
– Health and welfare benefits
• Medical plan
– Varies according to plan chosen and number of covered
members
– Paid October through June with two payments in June
• Delta dental – paid monthly
• Life insurance - Paid October through June with two
payments in June
• For health and welfare benefit rate information, call:
Pauline Castro at x3873
• Increase 10-20% each benefit year
Year-End Closing Requirements
• Grant-funded positions spreadsheets – used in
developing a tentative budget – expected to be
sent out in mid-April
• Changing staff allocations
– Change Salary Budget Codes form
– Teaching assignments
• Completing Final Budget Worksheets
– Carryover and new year funding
Year-End Closing Requirements
• Galaxy housekeeping
– Check to ensure that all charges are allocable to the
program
– Assess the need for budget transfers
• As long as you maintain a neutral or positive balance in
the major object code categories 3XXX, 4XXX, 5XXX
6XXX and 7XXX, it is not necessary to cover negatives in
individual line items
• In the 1XXX and 2XXX categories, each individual line
item in these categories must always be neutral or positive