Fiscal Monitoring Menu Overview OneStar Foundation utilizes a variety of monitoring processes and tools to conduct fiscal oversight of its sub-grantees. The processes listed below include the different fiscal monitoring options that OneStar staff may use to monitor its Some elements are required for all sub-grantees, while other options may be used for sub-grantees depending on identified problem areas, scope, and/or risk factors. Category/Description of section All Sub-Grantees: All AmeriCorps*Texas operating sub-grantees (excluding Fixed Amount Grants and Education Award Programs) will undergo the following monitoring processes: Portfolio risk assessment Monthly calls Final PER monitoring Fiscal readiness review Audit review Random sampling PER processing review Site visits PROCESS COMPONENTS WHO RECEIVES IT PORTFOLIO Portfolio risk assessment is conducted twice a year *REQUIRED* All RISK ASSESSMENT Designed to assess sub-grantees on the basis of are included inherent, fiscal readiness and on-going risks in the portfolio risk Informs the portfolio monitoring plan assessment. FISCAL READINESS Review of fiscal policies and procedures to identify any REVIEW red flags in systems *REQUIRED* All Review of cost allocation plan and indirect cost rate (if receive a applicable) Fiscal Readiness Review Review separation of duties annually. Review Fidelity Bond Coverage Form and Certification of Insurance Components of the Review job descriptions of staff charged to the assessment may be AmeriCorps grant reviewed during the Review IRS 990 year if the need arises. Review organizational capacity survey updates Audit review (see “Audit review” below for details) PER PROCESSING Ensure dates of PER are within budget period and that REVIEW they are in consecutive order Review expenditures to ensure that they are within *REQUIRED* Each PER variance allowance and budgeted amounts (including submitted by de-obligation) is reviewed in Review for mathematical accuracy this manner. Ensure compliance with the Commission Fixed Amount administrative requirement Identify any trends that may need follow up
Fiscal Monitoring Menu Overview OneStar Foundation utilizes a variety of monitoring processes and tools to conduct fiscal oversight of its sub-grantees. The processes listed below include the different fiscal monitoring options that OneStar staff may use to monitor its Some elements are required for all sub-grantees, while other options may be used for sub-grantees depending on identified problem areas, scope, and/or risk factors. Category/Description of section All Sub-Grantees: All AmeriCorps*Texas operating sub-grantees (excluding Fixed Amount Grants and Education Award Programs) will undergo the following monitoring processes: Portfolio risk assessment Monthly calls Final PER monitoring Fiscal readiness review Audit review Random sampling PER processing review Site visits PROCESS COMPONENTS WHO RECEIVES IT PORTFOLIO RISK ASSESSMENT Portfolio risk assessment is conducted twice a year Designed to assess sub-grantees on the basis of inherent, fiscal readiness and on-going risks Informs the portfolio monitoring plan *REQUIRED* All are included in the portfolio risk assessment. FISCAL READINESS REVIEW Review of fiscal policies and procedures to identify any red flags in systems Review of cost allocation plan and indirect cost rate (if applicable) Review separation of duties Review Fidelity Bond Coverage Form and Certification of Insurance Review job descriptions of staff charged to the AmeriCorps grant Review IRS 990 Review organizational capacity survey updates Audit review (see “Audit review” below for details) *REQUIRED* All receive a Fiscal Readiness Review annually. Components of the assessment may be reviewed during the year if the need arises. PER PROCESSING REVIEW Ensure dates of PER are within budget period and that they are in consecutive order Review expenditures to ensure that they are within variance allowance and budgeted amounts (including de-obligation) Review for mathematical accuracy Ensure compliance with the Commission Fixed Amount administrative requirement Identify any trends that may need follow up *REQUIRED* Each PER submitted by is reviewed in this manner.
Fiscal-Monitoring-Menu_for-Grantees.docx