Financial ReportingFinancial Reporting

• How do you get your money???

Session ObjectivesSession Objectives

• Understand Reporting Requirements

• Know Reimbursement Process

• Be aware of Budget Revision Process

Financial ReportingFinancial Reporting

• MCSC requires two types of Financial Reporting– 1. Monthly = PER (Periodic Expense

Report)– 2. Quarterly = AFR (Aggregate

Expense Report)

Monthly ReportingMonthly Reporting

• Periodic Expense Report (PER) tracks all AmeriCorps related expenditures by budget category– Federal Funding– Match Funding

• PER Essentials– Due to MCSC by 15th of each month– If 15th is on a weekend = due the Monday after the 15th

– Report on cash basis – not accrual– Submit in OnCorps– Failure to submit in OnCorps will result in

reimbursement delays

Monthly ReportingMonthly Reporting

• PERS are the foundation for creating the AFR

• PER must be supported by accounting records/general ledger– Include all expenses– Data must be accurate– Data produces AFR

Quarterly ReportingQuarterly Reporting

• AFR tracks all AmeriCorps related in summary totals– Federal Funding– Match Funding

• AFR Essentials– Due to MCSC by last day of month after quarter ends– Submit in OnCorps

AFR and OnCorpsAFR and OnCorps

• How are AFRs in OnCorps created?– PERs must be created before the

quarterly AFR reports can be generated

– AFRs in OnCorps automatically add up all the data in the PERs for that quarter

Grant CloseoutsGrant Closeouts

• We will be closing out the 06AF grant.

• Report for 2006-07, 2007-08, 2008-09, 2009-2010, and 2010-2011 program years

ReimbursementsReimbursements

• Reimbursement is made based on actual expenses

• Reimbursements may not be for estimated, unauthorized, or unallowable expenses

• Invoices must be for approved and budgeted expenditures that programs have already incurred

• No advances allowed

ReimbursementsReimbursements

• MCSC requires monthly reimbursement– Subgrantees/Programs must submit:

1. Request for Reimbursement Form2. Supporting documentation, including copies of receipts/invoices3. A copy of AmeriCorps program’s general ledger for that month

4. A copy of the payroll register related to payroll expenses

5. Documentation for all claimed match

Late Report?Late Report?

• Prior to date:– By e-mail, request an extension– Provide reason why an extension is

needed– State expected date of completion

Mail Reimbursment RequestsMail Reimbursment Requests

– Attention: Kevin Edwards, Veronica Salmons or Andre Grinston

– Missouri Community Service Commission– Missouri Department of Economic

Development– 301 W. High Street, Room 770– P.O. Box 118– Jefferson City, MO 65102

Budget RevisionsBudget Revisions

• Are done by Budget Modification Requests in OnCorps

• Are approved by the MCSC

• Cannot change more than 10% of grant without authorization from CNCS

In ConclusionIn Conclusion

• Good luck and Best Wishes for a Great Program Year!!!