michigan department of education great start readiness program gsrp fiscal audits
TRANSCRIPT
Michigan Department of Education
Great Start Readiness Program
GSRP Fiscal Audits
GSRPFiscal Audits
Policies and Guidelines
1. State Legislation2. Assurances and Certifications3. GSRP Implementation Manual4. MI Public School Accounting
Manual5. Generally Accepted Accounting
Principles (GAAP)
GSRPFiscal Audit Process
1. ISD Notification2. On-Site3. Documentation 4. Final Report5. Compliance Plan
GSRPDocumentation
ISDGeneral Ledger (GL)GSRP Policies and ProceduresGSRP Employee ListPayroll ReportsContracts – subrecipients,
vendors, employees
GSRPDocumentation
MEGS+ Final Expenditure Report
(FER)Carryover FERBudgetsOther reports/pages as
necessary
GSRPDocumentation
General Ledger:Revenues
Expenses
MEGS+FERCarryover FERBudgets
GSRPDocumentation
GSRP Policies and Procedures Internal ControlCARES:- Compliance-Accomplish-Relevant and Reliable-Efficiently and Economically-Safeguard
GSRPDocumentation
What policies? Where do we start?
Examples of Policies and Procedures
Cash Management Procurement
GSRPEmployee List and Payroll
Reports
Direct GSRP Employees
Salary Benefits
Proration
GSRPContracts
Include:- Scope of services- Defined compensation- Signature of all parties w/titles - Dated- Defined period
GSRPContracts
GSRP Implementation Plan
ISD Responsibilities section
Written Agreements
GSRPFiscal Audit Final Report
Findings Commendations Recommendations
GSRPFiscal Audit Compliance Plan
Alright, all gears stopWhat do I do now?
Steps to meet GSRP Compliance
GSRPFiscal Audit
Hints
1. Policies and procedures 2. Contracts3. Allowable Costs