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Michigan Department of Education Great Start Readiness Program

Michigan Department of Education Great Start Readiness Program. GSRP Fiscal Audits. GSRP Fiscal Audits Policies and Guidelines. State Legislation Assurances and Certifications GSRP Implementation Manual MI Public School Accounting Manual Generally Accepted Accounting Principles (GAAP).

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Michigan Department of Education Great Start Readiness Program

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  1. Michigan Department of EducationGreat Start Readiness Program GSRP Fiscal Audits

  2. GSRPFiscal AuditsPolicies and Guidelines • State Legislation • Assurances and Certifications • GSRP Implementation Manual • MI Public School Accounting Manual • Generally Accepted Accounting Principles (GAAP)

  3. GSRPFiscal Audit Process • 1. ISD Notification • 2. On-Site • 3. Documentation • 4. Final Report • 5. Compliance Plan

  4. GSRPDocumentation ISD General Ledger (GL) GSRP Policies and Procedures GSRP Employee List Payroll Reports Contracts – subrecipients, vendors, employees

  5. GSRPDocumentation MEGS+ Final Expenditure Report (FER) Carryover FER Budgets Other reports/pages as necessary

  6. GSRPDocumentation • General Ledger: • Revenues • Expenses • MEGS+ • FER • Carryover FER • Budgets

  7. GSRPDocumentation GSRP Policies and Procedures Internal Control CARES: - Compliance -Accomplish -Relevant and Reliable -Efficiently and Economically -Safeguard

  8. GSRPDocumentation What policies? Where do we start? Examples of Policies and Procedures Cash Management Procurement

  9. GSRPEmployee List and Payroll Reports Direct GSRP Employees Salary Benefits Proration

  10. GSRPContracts Include: - Scope of services - Defined compensation - Signature of all parties w/titles - Dated - Defined period

  11. GSRPContracts GSRP Implementation Plan ISD Responsibilities section Written Agreements

  12. GSRPFiscal Audit Final Report Findings Commendations Recommendations

  13. GSRPFiscal Audit Compliance Plan Alright, all gears stop What do I do now? Steps to meet GSRP Compliance

  14. GSRPFiscal AuditHints • Policies and procedures • Contracts • Allowable Costs

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