2014 TAACCCT TRAINING AND CONVENING Financial Reporting and Accrual Accounting.
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Transcript of 2014 TAACCCT TRAINING AND CONVENING Financial Reporting and Accrual Accounting.
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
ETA-9130 Financial Reporting
Today’s Presenters:
Jane Yoon, Region 6
Materials You Should Have:
Handout 1 – ETA 9130 report form
Handout 2 – Annotated ETA 9130 form
Handout 3 – Definitions exercise
Evaluation Form
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
What will you learn today? ETA-9130: Facts You Need to Know
Key Definitions
ETA-9130 Analysis Simulator
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Rules of the Game 29 CFR Part 95.52 or Part 97.41
OMB Approval Extended to 12/31/2015
TEGL 28-10
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
There are some basic facts about the ETA-9130 that are important to know when preparing and analyzing your report
Accruals reflected
Due quarterly no later than 45 days after
quarter end
Data is cumulative from grant inception
Report must include cash and financial status information
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
ETA-9130 ReportSection 10, parts o-q and Section 11
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
What will you learn today? ETA-9130: Facts You Need to Know
Key Definitions
ETA-9130 Analysis Simulator
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Understanding ETA’s definitions of financial terms is a key ingredient in producing an accurate ETA-9130 report
DisbursementExpenditures
OutlaysAccruals
Cash Based AccountingObligation (ETA-9130 Line 10H)
Unliquidated Obligation
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Disbursement Disbursement means the transfer of
cash from the Payment Management System to the grantee
At the grantee level, disbursement means the transfer of cash from the grantee to another payee
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Expenditures In general, expenditures means
charges made to the program in support of authorized activities
ETA requires all grantees to report all financial transactions on a full accrual basis
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Accrued Expenditures Components During a Given Period
Goods and other property received
Services performed by employees, contractors, and others
Other amounts becoming owed
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
When working with cash based accounting systems, be sure to track the timing of activity to find accrual expenditures
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Obligation For purposes of the ETA-9130, Line 10h,
obligation includes Federal share of expenditures (cash outlays plus accrued expenditures) and any unliquidated obligations
Note, the commonly held GAAP definition of obligation is a term that references actions where a legal binding contract or purchase order to pay exists and differs from the use on the ETA-9130
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Unliquidated Obligations Unliquidated Obligations means
obligations incurred for which an expenditure has not been recorded
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
How would you classify these types of cost situations?Assumption: all activities/charges below are allocable to a DOL-ETA grant
A - Accrual
B – Unliquidated Obligation
1. You received delivery of a partial order for goods but the invoice has not been paid.
2. A contractor has started training participants but has not sent the invoice.
C – Obligation
D – Disbursement
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
How would you classify these types of cost situations?Assumption: all activities/charges below are allocable to a DOL-ETA grant
A - Accrual
B – Unliquidated Obligation
3. Of a $50k contract, there is $40k unspent for which no goods or services have been provided.
4. Staff travel completed but no travel reimbursement submitted or paid before the end of the quarter.
C – Obligation
D – Disbursement
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
How would you classify these types of cost situations?Assumption: all activities/charges below are allocable to a DOL-ETA grant
A - Accrual
B – Unliquidated Obligation
5. You order, pick up, and pay for supplies all on the same day.
6. At the end of the month, you complete the monthly indirect cost calculation
C – Obligation
D – Disbursement
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
What will you learn today? ETA-9130: Facts You Need to Know
Key Definitions
ETA-9130 Analysis Simulator
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
True or False?1. Should Cash on hand always be zero?
a. Trueb. False
2. The amount reported on the total Federal expenditures line is higher than the cash disbursed. Is that an indicator that the organization is reporting accruals?
a. Trueb. False
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
What is a potential area of concern on this report? What would you do?
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
What are the potential areas of concern on this report? What would you do?
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Review online tutorials and other resources on ETA-9130 reporting available at: etareporting.workforce3one.org
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Review key guidance and resource documents at: http://doleta.gov/grants/financial_reporting.cfm
Forms and Instructions
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
Also, be sure to review closely Training and Employment Guidance Letter 13-12 and 28-10 available at:http://wdr.doleta.gov/directives/
U.S. DOL ETA 2014 TAACCCT TRAINING AND CONVENING
See the One-Stop Comprehensive Financial Management Technical Assistance Guide (TAG) located at:www.doleta.gov/grants/pdf/TAG_PartII_July2011.pdf