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First 5 LA Invoicing & Budget Modification Workshop

First 5 LA Invoicing & Budget Modification Workshop. OHCD Contractors FY 2009-2010. Overview. Financial Forms Invoice Reporting Informal Budget Modification/Budget Changes Formal Budget Modification Process Financial Compliance Site Visit Program (SOW) Modification Contact Information.

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First 5 LA Invoicing & Budget Modification Workshop

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  1. First 5 LAInvoicing & Budget Modification Workshop OHCD Contractors FY 2009-2010

  2. Overview • Financial Forms • Invoice Reporting • Informal Budget Modification/Budget Changes • Formal Budget Modification Process • Financial Compliance Site Visit • Program (SOW) Modification • 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. I. Financial Forms (cont’d) • Click on “Financial Forms” to download finance forms. • Other grant-related documents will be uploaded in this section of the website.

  6. II. Invoice Reporting SAMPLE

  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 300 Los 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. III. Informal Budget Modification 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

  12. III. Informal Budget Modification (cont’d) Rule 2: $5,000 or less Changes 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. III. Informal Budget Modification (cont’d) Rule 1: 10% Example: Budget Line Item Amount Change • Personnel $250,000 + $25,000 • Contracted Services 75,000 + 7,500 • Space 20,000 + 2,000 Rule 2: $5,000 or less: Budget Line Item Amount Change • Supplies $4,000 + $4,000 • Telephone 1,500 + 1,500

  14. III. Informal Budget Modification (cont’d) • 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

  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. IV. Formal Budget Modification (cont’d) Formal Budget Modifications are not retroactive

  21. IV. Formal Budget Modification (cont’d) • 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).

  22. 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

  23. 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

  24. VII. Contact Information Finance Department

  25. 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 tchinakarn@first5la.org Grants Management & Legal Compliance

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