9/30/2015 1. Financial Management Continued and Capacity Potential for ERM Typical Findings and Corrective Actions: ECHO problems Revise ECHO procedures allocation plan Submit correct Cost allocation plan lacking Unliquidated obligations discrepancies FFRs (and MPRs) Close audit findings Open audit issues Develop financial plans Insufficient financial planning Update FTA funds disbursement procedures FTA funds held more than 3 days d e o 34 1. Financial Management and Capacity Potential for ERM Continued Question: A grantee is deficient if it does not have a short term financial plan showing financial capacity. True or False? Fuel is an eligible preventive maintenance expense. True or False? 35 1. Financial Management and Capacity Potential for ERM Question: Continued A grantee is deficient if it does not have a short term financial plan showing financial capacity. Questions 12-13 True Fuel is an eligible preventive maintenance expense.
9/30/2015 1. Financial Management Potential for ERM and Capacity Continued Typical Findings and Corrective Actions: ECHO problems Revise ECHO procedures Cost allocation plan lacking Unliquidated obligations discrepancies Open audit issues Insufficient financial planning FTA funds held more than 3 days allocation plan Submit correct FFRs (and MPRs) Close audit findings Develop financial plans Update FTA funds disbursement procedures 34 1. Financial Management Potential for ERM and Capacity Question: Continued A grantee is deficient if it does not have a short term financial plan showing financial capacity. True or False? Fuel is an eligible preventive maintenance expense. True or False? 35 1. Financial Management Potential for ERM and Capacity Question: Continued A grantee is deficient if it does not have a short term financial plan showing financial capacity. True Questions 12-13 Fuel is an eligible preventive maintenance expense. d e o
FY16_TR_Workshop_Workbook.docx