SF-425 VR Financial Program Reporting. RSA Webinar January 21, 2010. Background.
SF-425 VR Financial Program Reporting
January 21, 2010
Because of the quarterly reporting requirement for the VR awards, RSA began the transition to the SF-425 with them. In the next few months, RSA will be issuing guidance regarding the transition of other RSA grants to the SF-425 financial report.
* Grantee Entry Required
(1) Goods and other tangible property received; (2) Services performed by employees, contractors, subgrantees, subcontractors, and other payees; and (3) Other amounts becoming owed under programs for which no current services or performance is required, such as annuities, insurance claims, and other benefit payments.
(b) Financial Status Report—
(2) Accounting basis. Each grantee will report program outlays and program income on a cash or accrual basis as prescribed by the awarding agency. If the Federal agency requires accrual information and the grantee's accounting records are not normally kept on the accrual basis, the grantee shall not be required to convert its accounting system but shall develop such accrual information through and analysis of the documentation on hand.
Procedures for minimizing the time elapsing between the transfer of funds from the US Treasury and disbursement by grantees and subgrantees must be followed whenever advance payment procedures are used.
Note:Fiscal Planning and Cash Management will enable State agencies to control and maintain a minimum amount of cash on hand.
(a) General. Where a funding period is specified, a grantee may charge to the award only costs resulting from obligations of the funding period unless carryover of unobligated balances is permitted, in which case the carryover balances may be charged for costs resulting from obligations of the subsequent funding period.
(b) Liquidation of obligations. A grantee must liquidate all obligations incurred under the award not later than 90 days after the end of the funding period (or as specified in a program regulation) to coincide with the submission of the annual Financial Status Report (SF- 269). The Federal agency may extend this deadline at the request of the grantee.
d. Total Federal Funds Authorized… $5,000,000
e. Federal Share of Expenditures……$ 998,888
f. Federal Share of Unliquid. Oblig…$ 501,112
g. Total Federal Share (10e + 10f)...$1,500,000
h. Unoblig. Balance of Fed. Funds….$ 3,500,000