6101 Federal Cash and Financial Management
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The district’s financial management system and records will be sufficient for preparing required reports and for tracing expenditures to a level that establishes funds have been used according to federal statutes, regulations, and the terms and conditions of the federal award. This is in addition to maintaining a system of funds and accounts in accordance with state law and the accounting manual (Policy 6020).
The district’s financial management system will:- Identify all federal awards received and expended, including specific information pertaining to the award: federal program name; CFDA title and number; identification number and year; and name of federal and any pass-through agency.
- Provide for accurate, current, and complete disclosure of the results of each federal award in accordance with reporting requirements.
- Include records and supporting documentation that identify the source and application of funds for federally funded activities, including authorizations, obligations, unobligated balances, expenditures, assets, income and interest.
- Enable the district to maintain effective internal controls to ensure accountability and proper safeguarding and use of all funds, property and other assets (for example, adequate segregation of duties).
- Provide a comparison of expenditures with budget amounts for each federal award.
In order for the district to comply with federal regulations for grant recipients, the superintendent will implement written procedures for 1) cash management; and 2) determining the allowability of costs in accordance with Cost Principles and the federal award terms and conditions.
Cross References:
Board Policy 6020 System of Funds and Accounts
6100 Revenues from Local, State and Federal Sources
Legal References:
CFR Part 200 §200.302, §200.305 Uniform Administrative Requirements, Cost Principles, and Audit Requirements
Management Resources:
Policy & Legal News Oct. 2015
ADOPTED: 11/24/2015
REVISED:
Procedure No. 6101P Federal Cash and Financial Management
The district may draw federal funds using a reimbursement or advance payment method.
Reimbursement Payment Method
For reimbursements of federal funds, the district will:- Monitor the fiscal activity (payments and reimbursements) under each grant on a continuous basis, and request timely reimbursement only for expenditures that have already been disbursed and comply with all applicable award requirements.
- Maintain source documentation/accounting records that reconcile to the reimbursement request at a level adequate to establish that funds have not been used in violation of any applicable statutory restrictions or prohibitions.
- If the district transfers expenditures previously charged to a federal award for which reimbursement has been claimed to a non-federal fund source, the district will calculate the interest earned on the federal funds pursuant to possible submittal - refer to Interest Earned section below.
Advance Payment Method
For advances of federal funds, the district will:- Monitor the fiscal activity (drawdowns and payments) under each grant on a continuous basis and maintain source documentation/accounting records at a level adequate to establish that funds have not been used in violation of any applicable statutory restrictions or prohibitions.
- To the extent available, disburse funds available from program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting additional cash payments.
- Plan for cash flow in the grant project during the budget period and review project cash requirements before each drawdown.
- Draw down only the amount of funds necessary to meet the immediate needs of the program/project (including the proportionate share of any allowable indirect costs), and minimize the time between receiving and disbursing those funds.
- Pay out federal funds for expenditures that comply with all applicable grant requirements as soon as administratively feasible (a rule of thumb is no more than three business days after receiving the funds).
- Deposit advance payments into insured accounts whenever possible. Unless conditions listed in CFR Title 2 Part 200 Subpart D §200.305(b)(8) apply, the district will maintain advance payments in interest-bearing accounts.
- Remit interest earned over $500 annually – refer to Interest Earned section below.
Interest Earned
- The district will retain interest earned amounts up to $500 per year for administrative expenses.
- Any additional interest earned on those funds will be remitted annually to the Department of Health and Human Services (HHS) Payment Management System (PMS) through an electronic medium or by check to the HHS Program Support Center. The district will refer to the federal or pass-through agency for pertinent information about the remittance.
ADOPTED: 11/24/2015
REVISED: - Identify all federal awards received and expended, including specific information pertaining to the award: federal program name; CFDA title and number; identification number and year; and name of federal and any pass-through agency.
6000 Policies
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FINANCIAL PLANNING AND MANAGEMENT
6000 Program Planning, Budget Preparation, Adoption and Implementation
6001 Tax Deferred Annuity/Compensation
6020 System of Funds and Accounts
6021 Interfund Loans
6022 Minimum Fund Balance
6030 Financial Reports
6040 Expenditures in Excess of Budget
6070 Employee Suggestion Program
REVENUES
6100 Revenues from Local, State and Federal Sources
6101 Federal Cash and Financial Management
6102 District Fund-Raising Activities
6106 Allowable Costs for Federal Programs
6111 Tuition
6112 Rental or Lease of District Property
6114 Gifts or Donations
6120 Investment of Funds
6121 Personal Checks - Acceptance and Processing
PURCHASING
6210 Purchasing: Authorization and Control
6212 Charge Cards
6213 Reimbursement for Travel Expenses
6215 Voucher Certification and Approval
6216 Reimbursement for Goods and Services: Warrants
6220 Bid Requirements
6225 Use of Electronic Signature
6230 Relations with Vendors
6250 Cellular Telephones
RISK MANAGEMENT
6500 Risk Management
6511 Staff Safety
6512 Infection Control Program
6513 Workplace Violence Prevention
6530 Insurance
6535 Student Insurance
6540 Staff Personal Property Protection
6570 Property and Data Management
6580 Continuity of Operations Plan
TRANSPORTATION
6600 Transportation
6605 Student Safety Walking, Biking and Riding Buses to School
6608 Video Cameras on School Buses
6610 Video surveillance
6620 Special Transportation
6625 Private Vehicle Transportation
6630 Driver Training and Responsibility
6640 School Owned Vehicles
6690 Contracting for Transportation Services
FOOD SERVICES
6700 Nutrition and Physical Fitness
SCHOOL PROPERTY
6800 Safety, Operations and Maintenance of School Property
6801 Capital Assets/Theft-Sensitive Assets
6810 Energy Management, Education and Conservation
6881 Disposal of Surplus Equipment and/or Materials
6882 Sale of Real Property
6883 Closure of Facilities
6890 State Environmental Policy Act Compliance
6895 Pesticide Notification, Posting and Record Keeping
CAPITAL PROJECTS
6900 Facilities Planning
6905 Site Acquisition
6910 Construction Financing
6920 Construction Design
6925 Architect and Engineering Services
6950 Contractor Assurances, Surety Bonds and Insurance
6955 Maintenance of Records
6959 Acceptance of Completed Project
6970 Naming of Schools/Facilities
6971 Works of Art