Policy DAF-10
Administration of Federal Grant Funds – Grant Budget Reconciliation and Grant Closeout
School Board Approved: December 2, 2024
A. Budget Reconciliation:
Budget estimates are not used as support for charges to Federal awards. However, the District may use budget estimates for interim accounting purposes. The system used by the District to establish budget estimates produces reasonable approximations of the activity actually performed. Any significant changes in the corresponding work activity are identified by the District and entered into the District’s records in a timely manner.
The District’s internal controls include a process to review after-the-fact interim charges made to a Federal award based on budget estimates and ensure that all necessary adjustments are made so that the final amount charged to the Federal award is accurate, allowable, and properly allocated.
B. Grant Closeout Requirements:
At the end of the period of performance or when the Federal awarding agency determines the District has completed all applicable administrative actions and all required work under the grant, the agency will close out the Federal award. If the award passed-through the State, the District will have 90 days from the end of the period of performance to submit to the State all financial, performance, and other reports as required by the terms and conditions of the award.
Failure to submit all required reports within the required timeframe will necessarily result in the Federal awarding agency reporting the District’s material failure to comply with the terms of the grant to the Office of Management and Budget (OMB), and may pursue other enforcement actions.
The District must maintain all financial records and other documents pertinent to the grant for a period of three years from the date of submission of the final expenditure report, barring other circumstances detailed in 2 CFR 200.344.
District Policy History:
First reading: November 4, 2024
Second reading: November 18, 2024
Third reading/adopted: December 2, 2024
District revision history: Approved April 19, 2021
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