The Council will strengthen its internal controls to ensure expenditures are recorded timely and accurately in the general ledger and properly classified to the applicable award, budget category, and reporting period in accordance with 2 CFR 200.302(b)(2). The Fiscal Administrator is responsible for recording expenditures and preparing timely and accurate Federal Financial Reports (SF-425). Federal Financial Report due dates are maintained on the Council Calendar, with automatic notifications issued before each due date to the Fiscal Administrator, with a copy to the Administrative Officer. At the end of each six-month Federal Financial Reporting period, the Fiscal Administrator will review the general ledger and Profit and Loss reports to identify expenditures incurred during the reporting period and verify that expenditures are recorded in the appropriate accounting period and properly classified to the applicable award and account. The Fiscal Administrator will coordinate with appropriate program staff to resolve discrepancies and make necessary adjusting journal entries before the Federal Financial Report is finalized and submitted. Adjusting journal entries will be supported by appropriate documentation and reviewed by the appropriate program staff and/or Administrative Officer, as applicable. After a Federal Financial Report has been submitted, subsequent adjustments to the reported period will require documented review and approval and an assessment of whether a corrected Federal Financial Report is necessary. Prior to submission of each SF-425, the Fiscal Administrator will provide the Administrative Officer with the draft Federal Financial Report and supporting Profit and Loss/general ledger reports. The Administrative Officer will review and verify that reported expenditures and Federal revenue received agree with the Council's accounting records and supporting documentation. Any identified discrepancies will be resolved before submission. Documentation supporting the review, including the general ledger/Profit and Loss reports, Federal Financial Report, and applicable adjusting journal entries, will be retained in accordance with the Council's record retention requirements. These controls are intended to ensure expenditures are recorded in the proper reporting period, accurately classified, reconciled to the general ledger, and appropriately reflected in Federal Financial Reports prior to submission.