Embed Size (px)
Citation preview
First 5 LAInvoicing & Budget Modification
Workshop
OHCD Contractors
FY 2009-2010
2
Overview
I. Financial FormsII. Invoice ReportingIII. Informal Budget Modification/Budget
ChangesIV. Formal Budget Modification ProcessV. Financial Compliance Site VisitVI. Program (SOW) ModificationVII. Contact Information
3
I. Financial Forms
• Download financial forms from our website, www.first5la.org
• Under “Resources,” select “Grantee/Partner Information”
4
I. Financial Forms (cont’d)
• In the section, “For Grantees/Partners”
• Select “Oral Health Community Development”
• Click on “Go”
5
• Click on “Financial Forms” to download finance forms.
• Other grant-related documents will be uploaded in this section of the website.
I. Financial Forms (cont’d)
6
II. Invoice Reporting
7
II. Invoice Reporting (cont’d)
• Contact Name & Phone # line, please provide the name and phone # of the individual who is familiar with the expenses reported on the invoice form
• Must be based on actual expenses• Include First 5 LA funds spent (do not include matching funds
expenses)• Input your First 5 LA Funds budget (do not include Matching
Funds budget) in the Approved Budget Total column.
• Must be according to the approved budget line items• Attach a budget justification memo with invoice
• Describe actual expenses (First 5 LA funds) incurred during month
• Do not need to provide justification of Matching Funds expended
8
II. Invoice Reporting (cont’d)
• Once an invoice has been paid, Grantee CANNOT make adjustments to prior month’s expenses. Prior months’ adjustments can be made only on the current month being invoiced (with justification). • Justification of previous months’ adjustments should be enumerated
• If budget changes have been made, please make sure to revise the “Approved Budget Total” column on the invoice form
• First 5 LA will place a HOLD on invoices, if grantee is not in compliance with the Grants Management Dept. (i.e., missing reports, proof of insurance, etc.) and/or Finance Dept. (i.e., error in calculations, unallowable %, etc.)
9
II. Invoice Reporting (cont’d)
• Invoices are to be submitted on a monthly basis• due the 20th business day of each month for the previous month
• Must be signed by the agency authorized representative (listed on the Signature Authorization Form)
• Payments are processed within 20 workings days of the receipt of the grantee’s invoice, if invoice is properly completed
10
II. Invoice Reporting (cont’d)
• All invoices must be mailed to:First 5 LA
c/o Finance Dept.750 N Alameda St., Suite 300Los Angeles, CA 90012
• Refer to the following sections in the contract for more information• Section 8 (Monthly Financial Reporting)• Section 9 (Payments and Expenditures)
11
Rule 1: 10%
Changes for line item budget of $5,000 or more:
You may increase/decrease the amount of the original budget line item by no more than 10% without submitting a formal budget modification
III. Informal Budget Modification
12
III. Informal Budget Modification (cont’d)
Rule 2: $5,000 or lessChanges for line item budget of less than $5,000:
You may increase/decrease any amount of the original budget line item up to the original amount
When making a budget change, a memorandum explaining the changes must be submitted with the invoice
13
Rule 1: 10% Example:
Budget Line Item Amount Change1. Personnel $250,000 + $25,0002. Contracted Services 75,000 + 7,5003. Space 20,000 + 2,000
Rule 2: $5,000 or less:
Budget Line Item Amount Change1. Supplies $4,000 + $4,0002. Telephone 1,500 + 1,500
III. Informal Budget Modification (cont’d)
14
• Only two (2) Informal Budget Modifications/ Budget Changes will be accepted per contract year
When making a budget change, a memorandum explaining the
changes must be submitted with the invoice
• If Grantee exceeds two (2) budget changes, a Formal Budget Modification will be required
• Refer to Section 9.4 in the Contract for more information
III. Informal Budget Modification (cont’d)
15
IV. Formal Budget Modification
Grantee must submit the following:
• Budget Modification Form • Justification letter• Revised Statement/Scope of Work (if
modification impacts program activities)
16
SAMPLE
17
SAMPLE
18
IV. Formal Budget Modification (cont’d)
• Formal Budget Modification due by the 1st of the month – to be effective the 1st of the following month, if approved
• First 5 LA will not process e-mailed or faxed budget modifications
• Formal Budget Modifications will not be processed during the first two months and the last 3 months of the contract year
19
IV. Formal Budget Modification (cont’d)
• Only one (1) formal budget modification is allowed per contract year
• Contractor must obtain written approval from First 5 LA prior to incurring expenses as a result of a formal budget modification
• Refer to Section 9.4 of the contract
20
21
Formal Budget Modifications are not
retroactive
IV. Formal Budget Modification (cont’d)
22
• Plan the Formal Budget Modification with the understanding that the requested changes will be effective one month after submission, if approved.
Example: Your agency plans to hire a Case Manager position with savings from the Equipment line item and the Formal Budget Modification is submitted to First 5 LA November 1st. The Formal Budget Modification will be effective, if approved, December 1st. Therefore, the Case Manager position should be budgeted for only 7 months (December – June).
IV. Formal Budget Modification (cont’d)
23
V. Financial Compliance Site Visit
• Agencies must demonstrate internal accounting controls and practice standard accounting principles
• First 5 LA will select budget line items to be reviewed • Line item with the most funds will be examined: Capital
Cost/Renovation
• Contractors will provide documentation to support expenses
• Record of Financial Compliance form• Equipment Inventory Log
• To be scheduled after completion of first year
24
VI. Program (SOW) Modification
• Requests for SOW modifications must be submitted in writing at least one (1) month prior to the requested effective date
• Requests for modifications will not be accepted during the first two (2) months and the final three (3) months of the contract year
• There is a limit of two (2) SOW modifications per contract year
• Refer to Section 7 in the contract
25
VII. Contact Information
Kristina Dixon
SRI Staff Accountant
(213) 482-7549
Camille Donnell
MAA Staff Accountant
(213) 482-7513
Tamika Austin
Staff Accountant II
(213) 482-7532
Jeffrey Samson
Staff Accountant II
(213) 482-9399
Finance Department
26
VII. Contact Information (cont’d)
Tina Chinakarn, MPH
Program Officer
First 5 LA
750 N. Alameda Street, Ste. 300
Los Angeles, CA 90012
Phone (213) 482-7521
Fax (213) 482-5903
Grants Management & Legal Compliance
