Stand in costs Review of all administrative/personnel related manuals Subrecipients should provide technical assistance to their subrecipients as they deem necessary or when solicited by subrecipients. Additional information may be found in or as amended, Sub-State Monitoring Policy, posted on jobs..gov. FINANCIAL REPORTING GUIDE Financial reporting is an important element of accounting for Federal grant administered through the DWD. A concerted effort must, therefore, be made by all Subrecipients to track and report accurate financial, program, and other required information to the DWD. Reporting financial information such as the availability of funds, accrued expenditures, and obligations are very pertinent in ensuring the integrity of the DWD administered Federal awards. Subrecipients are required to submit monthly or quarterly financial reports to the DWD for All each grant award they operate. The reports must be submitted electronically through the DWD FRS and/or any other DWD approved mediums. It is the responsibility of Subrecipient to ensure the accuracy and timeliness of financial information provided by their subrecipients in order to do same to the DWD. Below is non-exhaustive listing of financial reporting requirements: Contract Progress Report (CPR) Monthly – Contract Progress Reports are due by the of business on the 10th of the month for non-end of quarter months and by the close of business on the 15th of the month for end of quarter months. CPRs must be prepared and reported on an accrual basis in compliance with GAAP. CPRs must be prepared on an accrual rather than a cash disbursement basis. The actual expenditure portion of the CPR must be taken directly from the accounting system and the accruals must be supported by information in the accounting system or from spreadsheets.
Stand in costs Review of all administrative/personnel related manuals Subrecipients should provide technical assistance to their subrecipients as they deem necessary or when solicited by subrecipients. Additional information may be found in or as amended, Sub-State Monitoring Policy, posted on jobs..gov. FINANCIAL REPORTING GUIDE Financial reporting is an important element of accounting for Federal grant administered through the DWD. A concerted effort must, therefore, be made by all Subrecipients to track and report accurate financial, program, and other required information to the DWD. Reporting financial information such as the availability of funds, accrued expenditures, and obligations are very pertinent in ensuring the integrity of the DWD administered Federal awards. All Subrecipients are required to submit monthly or quarterly financial reports to the DWD for each grant award they operate. The reports must be submitted electronically through the DWD FRS and/or any other DWD approved mediums. It is the responsibility of Subrecipient to ensure the accuracy and timeliness of financial information provided by their subrecipients in order to do same to the DWD. Below is non-exhaustive listing of financial reporting requirements: Contract Progress Report (CPR) – Monthly Contract Progress Reports are due by the of business on the 10th of the month for non-end of quarter months and by the close of business on the 15th of the month for end of quarter months. CPRs must be prepared and reported on an accrual basis in compliance with GAAP. CPRs must be prepared on an accrual rather than a cash disbursement basis. The actual expenditure portion of the CPR must be taken directly from the accounting system and the accruals must be supported by information in the accounting system or from spreadsheets.