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Financial Reporting and Accrual Accounting

Financial Reporting and Accrual Accounting. ETA-9130 Financial Reporting. Today’s Presenters: Jane Yoon, Region 6 Materials You Should Have: Handout 1 – ETA 9130 report form Handout 2 – Annotated ETA 9130 form Handout 3 – Definitions exercise Evaluation Form. What will you learn today?.

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Financial Reporting and Accrual Accounting

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  1. Financial Reporting and Accrual Accounting

  2. ETA-9130 Financial Reporting Today’s Presenters: Jane Yoon, Region 6 Materials You Should Have: Handout 1 – ETA 9130 report form Handout 2 – Annotated ETA 9130 form Handout 3 – Definitions exercise Evaluation Form

  3. What will you learn today? ETA-9130: Facts You Need to Know Key Definitions ETA-9130 Analysis Simulator

  4. Rules of the Game 29 CFR Part 95.52 or Part 97.41 OMB Approval Extended to 12/31/2015 TEGL 28-10

  5. There are some basic facts about the ETA-9130 that are important to know when preparing and analyzing your report Due quarterly no later than 45 days after quarter end Accruals reflected Data is cumulative from grant inception Report must include cash and financial status information

  6. ETA-9130 ReportSections 1-9

  7. ETA-9130 ReportSection 10, parts a-i

  8. ETA-9130 ReportSection 10, parts j-n L.

  9. ETA-9130 ReportSection 10, parts o-q and Section 11

  10. ETA-9130 ReportSections 12-13

  11. ETA-9130 ReportRemarks Section

  12. What will you learn today? ETA-9130: Facts You Need to Know Key Definitions ETA-9130 Analysis Simulator

  13. Understanding ETA’s definitions of financial terms is a key ingredient in producing an accurate ETA-9130 report Disbursement Expenditures Outlays Accruals Cash Based Accounting Obligation (ETA-9130 Line 10H) Unliquidated Obligation

  14. Disbursement Disbursement means the transfer of cash from the Payment Management System to the grantee At the grantee level, disbursement means the transfer of cash from the grantee to another payee

  15. Expenditures In general, expenditures means charges made to the program in support of authorized activities ETA requires all grantees to report all financial transactions on a full accrual basis

  16. Accrued Expenditures Components During a Given Period Goods and other property received Services performed by employees, contractors, and others Other amounts becoming owed

  17. When working with cash based accounting systems, be sure to track the timing of activity to find accrual expenditures

  18. Obligation For purposes of the ETA-9130, Line 10h, obligation includes Federal share of expenditures (cash outlays plus accrued expenditures) and any unliquidated obligations Note, the commonly held GAAP definition of obligation is a term that references actions where a legal binding contract or purchase order to pay exists and differs from the use on the ETA-9130

  19. Unliquidated Obligations Unliquidated Obligations means obligations incurred for which an expenditure has not been recorded

  20. How would you classify these types of cost situations?Assumption: all activities/charges below are allocable to a DOL-ETA grant 1. You received delivery of a partial order for goods but the invoice has not been paid. 2. A contractor has started training participants but has not sent the invoice. A - Accrual B – Unliquidated Obligation C – Obligation D – Disbursement

  21. How would you classify these types of cost situations?Assumption: all activities/charges below are allocable to a DOL-ETA grant 3. Of a $50k contract, there is $40k unspent for which no goods or services have been provided. 4. Staff travel completed but no travel reimbursement submitted or paid before the end of the quarter. A - Accrual B – Unliquidated Obligation C – Obligation D – Disbursement

  22. How would you classify these types of cost situations?Assumption: all activities/charges below are allocable to a DOL-ETA grant 5. You order, pick up, and pay for supplies all on the same day. 6. At the end of the month, you complete the monthly indirect cost calculation A - Accrual B – Unliquidated Obligation C – Obligation D – Disbursement

  23. What will you learn today? ETA-9130: Facts You Need to Know Key Definitions ETA-9130 Analysis Simulator

  24. Are you smarter than a 5th grader?

  25. True or False? • Should Cash on hand always be zero? • True • False • The amount reported on the total Federal expenditures line is higher than the cash disbursed. Is that an indicator that the organization is reporting accruals? • True • False

  26. What is a potential area of concern on this report? What would you do?

  27. What are the potential areas of concern on this report? What would you do?

  28. Homework

  29. Review online tutorials and other resources on ETA-9130 reporting available at: etareporting.workforce3one.org

  30. Review key guidance and resource documents at: http://doleta.gov/grants/financial_reporting.cfm Forms and Instructions

  31. Also, be sure to review closely Training and Employment Guidance Letter 13-12 and 28-10 available at:http://wdr.doleta.gov/directives/

  32. See the One-Stop Comprehensive Financial Management Technical Assistance Guide (TAG) located at:www.doleta.gov/grants/pdf/TAG_PartII_July2011.pdf

  33. Share with others supporting this grant

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