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Budget and Financial Guidelines
Subrecipient Budget Detail
Subrecipient Budget Detail
Per legislation, the ISD is the grantee and fiscal agent for all GSRP funds. As such, the ISD is required at a minimum, to receive, review, approve and keep on file, yearly budgets and FERs for all GSRP funds, including transportation, curriculum, and start up grants. Individual subrecipient budgets and FERs are required documentation for a fiscal review and must be provided to MiLEAP upon request. Templates and other documents are available in the resources to this section. ISDs may also require subrecipients to utilize accounting software.
Reporting Subrecipient Budgets in NexSys
For subrecipients, the ISD is only required to enter a total amount in the applicable 400 function code(s) within the budgets and FERs in NexSys.
All funding should be entered under the 7000-8000 object code. Descriptions must be used as below:
Function code 411 – Total Districts/PSAs
Function code 441 – Total For-Profit, Public or Private CBOs
Function code 445 – Total Non-Profit CBOs, College/Universities, and Head Start