Abstract

Site visits from funding representatives such as the Corporation for National and Community Service, carried out to review financial, management, and award compliance matters in conjunction with a specific grant, can be facilitated with some preparation on the part of the grantee. This effective practice outlines what to expect from a financial management review and lists records and supporting documentation to have on hand when a funding representative comes to visit. This effective practice was developed from materials shared by Kristina Tecce of Walker & Company, LLP at the Southwest Cluster AmeriCorps Program Directors Conference in Albuquerque, New Mexico, in February 2002.

Back to top

Issue

Grantees may feel some apprehension about the idea of a site visit from funding representatives, but a little preparation can help ensure that the visit will be productive for both parties.

Back to top

Action

Site visits from funding representatives, such as the Corporation for National and Community Service, carried out to review financial, management, and award compliance matters in conjunction with a specific grant, can be facilitated with some preparation on the part of the grantee.

The site visit includes a general assessment of financial and administrative systems and records. It is not an audit. Senior management, financial, business, and accounting officials should be available for discussions. The following financial and administrative records and supporting documentation should be available for on-site review and discussion.

• Completed financial system survey
• Organizational charts
• Identification of key officials, responsibilities, relevant experience
• Board of Directors, including most recent Board of Director meeting minutes
• Articles of Incorporation, if applicable
• Financial-related delegation of authorities, responsibilities, internal controls
• Position descriptions for financial-related staff
• Applicable organization policies, procedures, forms and other instruments relating to financial, administrative, personnel, and procurement systems, including the accounting manual
• General ledger, chart of accounts, and journals related to cash receipts, cash disbursements, payroll, income /sales, purchase, and other general journals
• Monthly, quarterly, and year-end financial statements
• Most recent IRS Form 990
• Recent audit reports, including A-133 and other internal or external audits and management letters
• Negotiated Indirect Cost Rate Agreement, if applicable
• Payroll records, including timesheets and fringe benefit charges related to the grant
• Basis for budgeted match contributions
• Cash and in-kind match documentation
• Systems for match recording and accounting entries
• Financial Status Reports and all documentation to support the expenditures reports
• Inventory and property records related to the grant
• Other relevant systems, record, documentation, and files including, but not limited to cancelled checks, bank statements, check register, grant files.

Back to top

Context

These guidelines are particularly relevant for programs funded by the Corporation for National and Community Service.The general purpose of site visits may include one or more of the following:

• Conducting pre-award organizational financial and management review
• Assessing administrative, financial, management and organizational capabilities and systems
• Identifying or clarifying problems, issues, concerns
• Resolving or following up on problems, issues
• Monitoring systems, policies, practices, or procedures
• Monitoring and reviewing compliance with award requirements
• Identifying technical assistance needs
• Providing technical assistance
• Reviewing subgrantees and their systems, policies, procedures, and records
• Continuing improvement in financial management and grants compliance
• Other

Back to top

Outcome

Appropriate documentation and financial management methods assist funding agencies in assessing areas of weakness, issues, and concerns.

Back to top

Posted On

July 10, 2002

Back to top

For More Information

Back to top

Related Practices

• Planning a site visit

Back to top

Related sites

Topic Areas

• Boards and advisory councils
• Financial management
• Program evaluation
• Sustainability
• Senior Corps
• AmeriCorps
• Program management
• Walker

Back to top