Transcript Establishing a Fiscal Foundation DFSS 2009 Annual Fiscal

WELCOME
Fiscal Indicators for Youth Development Agencies
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Fiscal Literacy:
Overview of Fiscal Indicators
Youth Development Agencies
Kenya Merritt – Director
Terry Sims – Accountant Technician
Arthur Baron – Accountant
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
What we will discuss today?
The relationship between the following
Indicators to your agency’s established
foundation.
• Budgeting Indicators
• Invoicing Indicators
• Tracking and Reporting Indicators
• Additional Indicators
Establishing a Fiscal Foundation
UNDERSTANDING YOURDFSS
FISCAL
CORE
2009 Annual
Fiscal Conference – Fiscal Indicators
What is an Indicator?
A signal
for
attracting
attention
Establishing a Fiscal Foundation
UNDERSTANDING YOURDFSS
FISCAL
CORE
2009 Annual
Fiscal Conference – Fiscal Indicators
Budget Development
Critical Questions in Program Budget Development
• Who are you serving?
• What is the proposed program?
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
Critical Questions in Program Budget Development
• When does your program operate?
• Where is your program located?
• How much does it cost?
• How are you going to pay for it?
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
•
•
•
•
•
•
•
Out of School
Mentoring
Counseling
Training
Summer Only
Regional Consortium Centers (RCC)
Youth Career Development Center (YCDC)
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
• What are the demographics of your participants
• Low – Moderate Income only/Mixed income
model
• Age of participants
• Number of participants
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
• How much staff do you need
• What is your staffing ratio
• Programmatic Staff
• Administrative Staff
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
• When does the program operate
• Daily
• Partial Week
• Summer Only
• As Scheduled
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
• Where will the programs operate
• Rent space
• Own space
• Free facilities
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
• How much does it cost and how are you going
to pay for it
• Single source
• Multiple sources
• Private donors
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
Indicators
Your agency develops its budget based on the maximum award
amount listed in the RFP
Budget is based on projected program costs
Your agency does not know how many children they will serve
until the RFP
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Development
Indicators
Your agency wide budget mirror its DFSS program
budget
Budget includes funding from other sources
Agency staff is allocated based on time spent on the
program
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Budget Exercise
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Monthly vouchering is contractually required – Section
5.2
• Voucher submission – fiscal report for CYS
• Invoicing should mirror program operations
• CFO and/or signature authority is knowledgeable of
invoicing process
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
120.00%
Percentage Expended of award
99.44%
99.52%
100.00%
100.00%
86.79%
99.87%
95.92%
80.00%
76.24%
75.72%
77.51%
60.00%
40.00%
20.00%
0.00%
2005
2006
2007
Fiscal Year
Agency A
Agency B
Agency C
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Your agency uses the correct forms.
– Youth Development voucher forms can be
downloaded from the following:
(http:cys.mycopa.com)
• Are you sending them to the correct department?
– All youth development vouchers should be
submitted to CYS Fiscal Youth Unit – 1615 W.
Chicago, 4th Floor Chicago, IL 60622
• Are they signed and originals submitted?
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Indicators
• Your agency vouchers bi-monthly, quarterly or even
annually
• Your agency consistently misses the voucher
deadline of the 15th of the following month
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Your agency consistently receives deletions
that are not understandable
• Your agency does not have a process in
place to address and/or respond to
deletions in a timely manner
• Your agency does not have a plan for
incurring program expenses
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Your agency vouchers bi-weekly when personnel
is budgeted.
• Your agency prepares a monthly expense plan,
including programmatic and administrative costs
projections
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Your agency has a process to log expenses on
the invoice form as they are incurred
• Your agency develops a soft file (scan copy)
that includes a copy of each voucher and
supplemental documentation
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Your agency monitors payments versus
your request
• Your agency requests an explanation for
deletions, if you do not understand them.
• Your agency resubmits for valid costs
within one week from the notification of
deletions and track payments
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoicing Development
• Your agency submits for new personnel titles,
non-personnel not budgeted or different
allocations.
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Invoices Exercise
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Tracking and Reporting Indicators
• Monthly fiscal reports are presented to Program Staff,
Executive Staff and the Board of Directors
• Grant Utilization is not monitored
• Fiscal Statements/Reports are not reviewed and
analyzed
• Fiscal records are not accurately maintained
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Tracking and Reporting Indicators
• Fiscal documentation received from CYS is
compared to internal fiscal reports
• Payments are cross-referenced using data
from the web
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Tracking and Reporting Indicators
• The fiscal staff develops reports for Executive Agency
staff including the Board of Directors and Program
Staff
• Monthly expenses are compared to budgeted costs
and spending plan to determine if budget revision is
warranted (projections should also be included)
• Fiscal staff are knowledgeable of OMB Circulars and
CYS procedures
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Tracking and Reporting Indicators
• Fiscal documentation to substantiate expenses are
kept electronically and on file in an organized
manner
• Fiscal calendar is developed to ensure deadlines are
met
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Sample Tracking Systems
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Additional Indicators
• Key fiscal staff position(s) are vacant and remain
vacant in excess of 3 months
• Budgeted positions remain vacant
• Fiscal Staff are not aware of processes and/or staff
are not in receipt of correspondence from CYS
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Additional Indicators
• It’s a priority to hire key fiscal staff and other
budgeted positions
• New fiscal staff contact FSS Fiscal Youth Unit for an
appointment within 2 weeks of start date for
technical assistance
• Budget revisions are submitted in a timely manner
and approved by the Youth Services Coordinator
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Additional Indicators
• Fiscal staff communicates regularly with the
Executive Staff and Program Staff regarding any
received correspondence from
trainings/meetings
• Fiscal staff monitors COPA, CitySpan and the City
of Chicago websites for updated information.
• Fiscal and Executive staff knowledgeable of OMB
Circulars (Cost principles A-122) and CYS fiscal
procedures
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Communication Tools
• Staff attends the 3rd Thursday trainings
• Staff are aware of the various tools of
communication:
– Web (http://cys.mycopa.com)
– Email ([email protected])
– Fiscal Hotline (312.743.7475)
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Partnerships
• Office of Budget and Management – City of Chicago
– Oversees CDBG RFP
– Mayoral Recommendations
– Manages CDBG Grant
• Youth Division
– Reviews budget/budget revisions
– Monitors agency’s fiscal performance
• Comptroller’s Office
– Approves budget/budget revisions
– Monitors agency’s fiscal performance
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Important Dates
– 15th of each month prior month voucher due
– March 17 Youth Ready Chicago RFP
– April Financial Statements are mailed
– May 2009 Application Period
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Important Dates
– September Financial Statements are mailed
– October Budget Revisions are due
– October Mayoral Recommendation released
– January 15th Final vouchers including resubmissions
are due
Establishing a Fiscal Foundation
DFSS 2009 Annual Fiscal Conference – Fiscal Indicators
Continue to build your fiscal foundation
Enjoy the remainder of the
Conference