Title funds reporting responsibilities and timeline
Meeting attendants: Cynthia Marrero[grant coordinator], Janira Gonzalez[accounting supervisor], Parth
Patel [senior accountant], and Xin Yi [CFO]
Date: 11/19/2024
Below the clarification regarding Title Funds grant reporting:
In May, PDE issues a preliminary award for the following school year
In the first week of July, Grant Coordinator submits consolidated application with grant budget
o Grant Budget (eGrants) prepared by Grant Coordinator needs to match with school-wide plan (FRCPP) by Principals
o Grant coordinator will request salaries and benefits information from Payroll Director and vendor information based on plans
o THe positions listed in the plan and budget need to meet twice a year. The school principals need to document it. The Grant Coordinator will communicate it.
o Grant Coordinator needs to provide the award letter and the consolidated application/agreement to the Accounting Department as soon as it’s approved.
In July, Senior Accountant needs to accrue the revenues based on the preliminary allocation
o The Senior Accountant needs to update the AR workpaper to reflect the allocation.
Starting in January during the school year, the Senior Accountant needs to file the quarterly cash on hand report (three reports) based on estimated expenses. The report is due by the 10th of the month following the conclusion of each quarter.
o When grant expenses need to be reconciled and reclassified between Grant Coordinator and Accounting Supervisor monthly. The Accounting Supervisor sets up the recurring calendar invite.
o Accounting Supervisor needs to review and confirm
o The Accounting Supervisor sets up a calendar reminder for the Senior Accountant to prepare the quarterly cash on hand report and another one for the due date.
In January, Grant Coordinator will collect time and efforts certificates for positions included in the plan and budget from July (or whenever the grant period starts) to December
In February, PDE issues the revised allocation. The Grant Coordinator needs to forward those
revised award letters to the Accounting Department as soon as they’re received.
In March, Senior Accountant needs to reconcile and accrue revenues based on revised allocation. If needed, a retroactive adjustment is made for year to date revenues
o Senior Accountant needs to update AR work paper to reflect the revised allocation
By April, Grant Coordinator needs to submit the revised application along with the budget to match the school wide plan
o The Grant Coordinator needs to send a copy of the revised consolidated agreement to the accounting department as soon as they’re approved.
In July, Grant Coordinator needs to compile the expenses for final expenditure report (FER) and submit the reports
o A copy of the FER needs to be provided to the accounting department.
In July, Grant Coordinator will collect time and efforts certificates for positions included in the plan and budget from January to June
In August, the AR workpaper needs to reconciled to be audit ready in both cash receipts and revenue accrual