If there are expenses that should be charged to or deducted from the previous expenditures amount, create a new column and report’s labeled “Adjustments” enter the necessary adjustments, noting if the adjustments are positive (adding) or negative (subtracting). Enter the sum of the total expenses by line item and the cumulative expenses from the previous expenditure report in the to column. If “Cumulative Expenses Date” the report being prepared is the first expenditure report of the subaward, the this will be the same as to “Expenses Period” “Cumulative Expenses Date.” Include any adjustments made in the column, if necessary. “Adjustments” Calculate and enter the balance by subtracting the to “Cumulative Expenses Date” line-item total from the line-item total. “Budget” Enter in the all payments from ICAP to the subrecipient for “Cash Report” section activities and costs associated with the subaward Scope of Work. Include the month and year that funds were received. Enter the total from the to column in the “Cumulative Expenses Date” “Cash Report” table. Calculate the difference between the total and the “Cash Received” “Cumulative Expenses to to find the balance of cash on hand. Date” Enter the name and title of the subrecipient authorizing official. Procure the signature of the authorizing official. Enter the date of the signature. Print on subrecipient letterhead. Send the report and accompanying documents to the ICAP Subaward Representative, and keep a copy on file. REIMBURSEMENTS Some subrecipients are funded under a cost-reimbursement method rather than a method. For payment by reimbursement, the subrecipient must submit a signed invoice for subaward expenses for the previous month(s), including supporting documentation for all invoiced expenditures. In addition, the subrecipient must submit a Quarterly/Monthly to document current and past expenditures and all payments from Expenditure Report ICAP. The expenditure report must be signed by an authorized official of the subrecipient organization and must conform to all specifications above. FINANCIAL MANAGEMENT AND ACCOUNTING SUBRECIPIENT PAYMENT OF EXPENSES While subawards must be requested in U.S. dollar (USD) amounts, subrecipients will generally use local currency for their transactions. Subrecipients may not open USD
If there are expenses that should be charged to or deducted from the previous report’s expenditures amount, create a new column labeled “Adjustments” and enter the necessary adjustments, noting if the adjustments are positive (adding) or negative (subtracting). Enter the sum of the total expenses by line item and the cumulative expenses from the previous expenditure report in the “Cumulative Expenses to Date” column. If the report being prepared is the first expenditure report of the subaward, the “Expenses this Period” will be the same as “Cumulative Expenses to Date.” Include any adjustments made in the “Adjustments” column, if necessary. Calculate and enter the balance by subtracting the “Cumulative Expenses to Date” line-item total from the “Budget” line-item total. Enter in the “Cash Report” section all payments from ICAP to the subrecipient for activities and costs associated with the subaward Scope of Work. Include the month and year that funds were received. Enter the total from the “Cumulative Expenses to Date” column in the “Cash Report” table. Calculate the difference between the total “Cash Received” and the “Cumulative Expenses to Date” to find the balance of cash on hand. Enter the name and title of the subrecipient authorizing official. Procure the signature of the authorizing official. Enter the date of the signature. Print on subrecipient letterhead. Send the report and accompanying documents to the ICAP Subaward Representative, and keep a copy on file. REIMBURSEMENTS Some subrecipients are funded under a cost-reimbursement method rather than a method. For payment by reimbursement, the subrecipient must submit a signed invoice for subaward expenses for the previous month(s), including supporting documentation for all invoiced expenditures. In addition, the subrecipient must submit a Quarterly/Monthly Expenditure Report to document current and past expenditures and all payments from ICAP. The expenditure report must be signed by an authorized official of the subrecipient organization and must conform to all specifications above. FINANCIAL MANAGEMENT AND ACCOUNTING SUBRECIPIENT PAYMENT OF EXPENSES While subawards must be requested in U.S. dollar (USD) amounts, subrecipients will generally use local currency for their transactions. Subrecipients may not open USD
icap-subrecipient-guidelines.docx