2015Federal Accounting Staff Federal Accounting Update.

2015 Federal Accounting Staff

Federal Accounting Update

Department of Natural Resources

Agenda

• OMB Uniform Guidance (Super Circular)

• Tracking your grants• Reporting• Labor Distribution


Dept of Audits speakers

Jessica Parent currently serves as the director for the Professional Standards and Practices Division of the Georgia Department of Audits and Accounts (DOAA). Jessica has over 20 years of experience in conducting financial, operational, single audit and IT audits. Prior to joining DOAA, she served as a principal auditor for Auditors of Public Accounts, State of Connecticut overseeing the audit of the Comprehensive Annual Financial Report and serving on the audit manual committee. Jessica is a CPA, certified information systems auditor and has a B.S. degree in accounting from Central Connecticut State University and a M.S. in information systems from Rensselaer Polytechnic Institute (RPI) Hartford campus.


Dept of Audits speakers

Roger Boyd currently serves as the director of Information Technology Services for the Georgia Department of Audits and Accounts. Roger has over 20 years of experience in conducting operational, compliance and IT audits. Prior to joining DOAA, he served as a senior manager for Ernst & Young responsible for leading IT external and internal audit engagements including multiple IT effectiveness and governance projects. Roger is a certified information systems auditor and has a B.S. degree in management and information systems from Florida State University.

Pete Sheffield currently serves as an audit supervisor for the State Government Division for the Georgia Department of Audits and Accounts. Pete has over 13 years of experience in conducting financial and single audits and currently oversees the Department of Human Services audit. Pete is a CPA, Certified Government Financial Manager and has a B.S. degree in economics from Emory University and a M.S.A. from Georgia Southwestern State University.


Tracking Your Grants


Grant Setup

• PO setup – need to split correctly from beginningo Change chartfields to new project if

same PO is being used on different grants


Federal Accounting’s process

• GG Federal reviews and notes needed

chartfield adjustments• Outstanding encumbrance query• PBCR

Can’t use to accurately track grants Only current budget year activity included


Grants Management System

• Quickbase program• Centralized location for all grant

information• Expense and revenue data updated

after the GG is generated• We will not update years prior to FY’12• Improvements are on-going


Reporting


Closeout

• Uniform Guidance enforces the 90 day closeout – i.e., all financial, performance, and other reports as required by terms and conditions

• Divisions must be conscious of this closeout period Project work should end at the grant period end date.

Therefore, the final 90 days are just for administrative purposes.

• Purchases made within the last 60-90 days of an award should receive additional scrutiny Contracts should allow for time to receive final invoices

prior to final report due dates.• Federal Accounting must draw/invoice awards in full within 90

days of award end date


Closeout

• Grants should be tracked throughout the grant period to avoid multiple adjustments at grant’s end.

• What are the issues with receiving final invoices timely?


Labor Distribution


• Thank you!• Update

projects/fund sources timely by notifying Megan to change the default.

• Actually review the spreadsheet when Conrad emails it.

• Any questions or issues you want to discuss?

Labor Distribution


What can you do ?

• What can the divisions do to help?

• Review the GG monthly for coding errors

• Submit Form 85s monthly• Track grant expenses,

including match, throughout the life of the grant This will minimize

over/under-spent grants• Partner with Federal Acctg

to resolve grant issues

2015Federal Accounting Staff Federal Accounting Update.

Documents

Transcript of 2015Federal Accounting Staff Federal Accounting Update.