Laserfiche WebLink
44 HB Fiscal Polices&Procedures <br /> •n 11 a: Grants Management - Federal Awards <br /> A. Overview <br /> This Section provides additional internal controls, practices, policies, and procedures regarding <br /> managing Federal awards. The procedures herein aim to safeguard assets and expend funds in <br /> accordance to Federal award requirements. <br /> Uniform guidance to administer federal grant awards comes from the Office of Management Office <br /> through the documentation found in 2 CFR Part 200 and subparts. Reporting and compliance are two <br /> required components to successfully administer grant awards. <br /> B. Description of Policies and Guidelines <br /> 1. Payments <br /> This section sets the policies and procedures to comply with 2 CFR 200.302(b)(5). <br /> Hope Builders will always default to seeking or requesting reimbursement for expenses directly or <br /> indirectly related to the government grant in accordance to 2 CRF 200.305 (3). This is the <br /> preferred method to simplify the processing of government grant payments. Hope Builders <br /> management may decide to request an advance depending on the nature of the government grant <br /> and project. <br /> Advance payments will only be requested if Hope Builders is able to meet the following: <br /> A. Must maintain or demonstrate the willingness to keep written procedures that <br /> minimize the time elapsing between the transfer of funds and disbursement of those <br /> funds. <br /> B. Maintain financial management systems that meet the standards for fund control and <br /> accountability as established in this part. <br /> C. The funds must be limited to the minimum amounts needed and be timed to be in <br /> accordance with the actual, immediate cash required to carry out the purpose of the <br /> approved program or project. <br /> D. The timing and amount of advance payments must be as close as is administratively <br /> feasible to the actual disbursements for direct program or project costs and the <br /> proportionate share of any allowable indirect costs. <br /> E. Timely payment to contractors in accordance with the contract provisions. <br /> Please see section 11 of this manual for all policies and procedures regarding processing of <br /> government grant funding. <br /> 2. Allowable Costs: <br /> This section sets the policies and procedures when considering Allowable Costs under 2 CFR <br /> 200.302(b)(7) and 2 CFR 200.403 <br /> HB is responsible for; <br /> A. The efficient and effective administration of the Federal award through the <br /> application of sound management practices and executing the unique combination of <br /> staff, facilities, and experience to accomplish the goals set forth. <br />