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ISD Administration of GSRP
Fiscal Policy and Review
Each ISD must have written fiscal policies outlining procedures for program, transportation, curriculum, carryover, and start up grant funding including but not limited to:
- How and when the subrecipients receive their allocations, including transportation;
- How allocations are adjusted to account for proration due to duplication of child count, and/or modifications to allocations based on MSDS count;
- How and when the subrecipient budgets (original and carryover) and Final Expenditure Reports (FERs)/Carryover Final Expenditure Reports (COFERs) are submitted to the ISD, including supporting documentation;
- Budgeting and budget amendments;
- Completing FERs/COFERs;
- Allowability of costs;
- Inventory requirements;
- Cash management;
- Procurement, including capital outlay approval and competitive bidding requirements;
- Closeout procedures for subrecipients (FERs, audits, and equipment). See also “3. Closure Procedures” earlier in this section;
- Professional learning/training of subrecipients on fiscal components of GRSP;
- Travel;
- Fiscal monitoring process of subrecipients;
- Food service and required spreadsheet and/or other documentation.
Subrecipient documentation must be reviewed by the ISD, depending on the agreed upon payment schedule. For example, if 100% reimbursement is used, then the ISD must require supporting documentation before a payment is made. The ISD may also choose to review subrecipients on an annual basis. The ISD must provide professional learning to both the subrecipient fiscal and program staff responsible for GSRP. Fiscal policies will be reviewed by MiLEAP during a fiscal review. For further information on fiscal reviews, see the Fiscal Review Process document in the resources for the Reporting and Monitoring section of this manual.