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Presented By: Department of Financial Services Bureau of Accounting Enterprise Accounting & Financial Reporting Finance & Federal Reporting Section. Federal Reporting. Overview. Authority/Guidance DFS Preparation Process American Recovery and Reinvestment Act (ARRA)

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Federal Reporting


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    Presentation Transcript
    1. Presented By: Department of Financial Services Bureau of Accounting Enterprise Accounting & Financial Reporting Finance & Federal Reporting Section Federal Reporting

    2. Overview Authority/Guidance DFS Preparation Process American Recovery and Reinvestment Act (ARRA) Reporting Entities and Requirements Basis of Accounting Documents on the Web Form & Instructions SEFA Checklist Reconciliation Template Submissions & Revisions Common Mistakes FLAIR & CFDA No.’s Federal Audit Letters Statewide Cost Allocation Plan (SWCAP) References Federal Reporting Contacts Questions & Comments Evaluations

    3. Schedule of Expenditures of Federal Awards(sefa)

    4. Authority/Guidance Pursuant to Section 215.97, Florida Statutes, the Florida Single Audit Act, DFS shall record Federal financial assistance expenditures “Federal financial assistance”, as defined by Florida Statutes, means financial assistance from federal sources passed through the state and provided to non-state organizations to carry out a federal program A-133 sets forth standards for obtaining consistency and uniformity among Federal agencies for the audit of States, local governments, and non-profit organizations expending Federal awards “Federal financial assistance” includes all types of federal assistance as defined in the U.S. Office of Management and Budget (OMB) Circular A-133

    5. DFS Preparation Process

    6. American Recovery and Reinvestment Act (ARRA) Agencies must maintain records that identify the source and application of ARRA funds Agencies must separately identify the expenditures of Federal Awards under the ARRA section on the SEFA unless otherwise guided by the Compliance supplement (A-133)

    7. American Recovery and Reinvestment Act (ARRA) Agencies must separately identify to each sub-recipient the Federal award number, CFDA number and amount of ARRA funds Agencies must require their sub-recipients to specifically identify ARRA funding and follow similar requirements as the recipient (Agency) in reporting ARRA funds on their SEFA

    8. Reporting Entities and Requirements All State of Florida Agencies, Universities, Colleges, and Community Colleges must complete the required SEFA documents and submit to DFS Any Component Unit of a State Entity that expends more than $500,000 in Federal Awards within the Fiscal Year must: Have an independent federal single audit performed in accordance with OMB Circular A-133, or Complete and submit the required SEFA documents to DFS by the due date (SEFA Checklist, SEFA Reconciliation, & SEFA Form)

    9. Basis of Accounting The Basis of Accounting used to prepare the SEFA should be consistent with the agencies financials and clearly identified in the checklist Most State Agencies use the “Modified Accrual” Basis of Accounting Method under which revenues are recognized in the period they become available and measurable, and expenditures are recognized in the period the associated liability is incurred

    10. Documents on the Web SEFA Form SEFA Form Instructions SEFA Checklist SEFA Reconciliation Template All found at our website: http://www.myfloridacfo.com/aadir/statewide_financial_reporting/index.htm

    11. Form & Instructions Features: Populated Cells Data Validation Input Prompts Highlighted Required Columns SEFA Form SEFA Form Instructions Electronically Submit the SEFA Form With: SEFA Checklist & SEFA Reconciliation Template No Subtotals No Blank Rows fedreporting@myfloridacfo.com

    12. SEFA Data Columns 1. OLO. Required Column 6-digit Entity Operating Level Organization 640000 430000 110000 492000

    13. SEFA Data Columns 2. FEIN. Required Column Federal Employer Identification Number (FEIN) No dashes or spaces Only the 9-digit number 123456789

    14. SEFA Data Columns 3. DUNS. Required Column Dun and Bradstreet Data Universal Number System (DUNS) No dashes or spaces Only the 9-digit number 987654321

    15. SEFA Data Columns 4. CFDA No. Required Column Provide the CFDA No. assigned to the Federal Program All awards must be itemized out and reported at the grant level For a complete list of CFDA Programs please visit: www.cfda.gov

    16. SEFA Data Columns 5. ARRA Check “Yes” if expenditures are American Recovery and Reinvestment Act (ARRA) awards If yes, provide award number in column number 11 Please select “No” if N/A No blank cells

    17. SEFA Data Columns 6. Federal Awarding Agency Populated Column Directly Funds Federal Program 7. CFDA Program Title Populated Column Program in which expenditures are reported

    18. SEFA Data Columns 8. Research & Development Check “Yes” if funds were used for Research & Development If yes, provide the award number in column number 11 Please list “No” if N/A. No blank cells 9. Source of Funding. Required Column D – Directly from Federal agency I – Indirect awards (pass-through) from non-State of Florida entities T – State Entity to State Entity Transfers

    19. SEFA Data Columns 10. Pass-Through Grantor or State Entity Name Required Column for Sources of Funding I and T Provide name of organization from which awards are received Proper format – No Abbreviations Examples of Grantor Names List of State Entities

    20. SEFA Data Columns 11. Award Number Required for Indirect Grants, CFDA No. XX.UNK, Research and Development, and ARRA awards The number can be a grant/contract number for Indirect and Research and Development Grants CFDA XX.UNK are considered “Other Federal Awards”. These awards occur in instances where a CFDA No. is not available For ARRA awards, the award number must be the number provided to the recipient upon receiving the ARRA funding

    21. SEFA Data Columns 12. Total Expenditures. Required Column As defined in OMB Circular A-133, Section .205 No negative expenditures should be recorded Include: Current year expenditures only Noncash assistance Federal loan and loan guarantees

    22. SEFA Data Columns 13. Subgranted to State of Florida Entities Amount provided to other State of Florida entities 14. Subgranted to Non-State of Florida Entities Amount provided to other Non-State of Florida entities Provide amounts pursuant to a subrecipient relationship only, no vendor relationship OMB Circular A-133, Section .210 for relationship determinations

    23. SEFA Data Columns 15. Agency Identifier Can be an agency identifier within the agency (internal identifier) Is used to track the award information within the agency

    24. BREAK!!

    25. Noncash Columns 1. CFDA No. Required Column Catalog of Federal Domestic Assistance Number (CFDA No.)

    26. Noncash Columns 2. Federal Awarding Agency Populated Column Directly Funds Federal Program 3. CFDA Program Title Populated Column Program in which expenditures are reported

    27. Noncash Columns 4. Total Noncash Benefits Required Column Portion of expenditures in form of noncash assistance 5. Total Program Expenditures Required Column Total amount of expenditures reported under federal program Ties to SEFA Data Column number 12

    28. Loan Tab Only applies to State Universities and Community Colleges/State Colleges

    29. State Entities Tab Contains a list of State of Florida Entities For Transfers, copy and paste in Column 10 of SEFA Data Tab

    30. Grantor Names Tab Contains a list of Grantor Names For Indirect Awards, copy and paste in Column 10 of SEFA Data Tab

    31. SEFA Checklist Instrument to ensure and promote accuracy, accountability, and compliance #19 on the Statewide Financial Statement Compliance Checklist Preparer must certify to all statements in the checklist

    32. SEFA Checklist Electronically Submit (with SEFA Form and Reconciliation Template) to: fedreporting@myfloridacfo.com Checklist – 4 Parts Electronic Signature – Preparer SEFA Checklist

    33. Reconciliation Template A reconciliation must be prepared using your federal expenditures reported and your basic financial statements prior to SEFA submission Electronically Submit (with SEFA Form and Checklist) to: fedreporting@myfloridacfo.com Reconciliation Template

    34. Submissions & Revisions Submit electronically by September 16, 2011 to: fedreporting@myfloridacfo.com Any revisions after due date must be in the form of an audit adjustment and should be submitted by your field auditor

    35. Common Mistakes Common mistakes include: Reporting programs and notes incorrectly due to changes in the compliance supplement Reporting incorrect source of funding Not including the grant/award number when required (e.g., Indirect, R&D, ARRA, and Other Federal Awards) Not including the Grantor name when required (e.g., Indirect Awards)

    36. Common Mistakes Common mistakes include: Submitting Reconciliation Templates that do not tie to financial statements and SEFA Form Formatting names incorrectly in the Pass-Through grantor Column (column 10) Subgranted columns adding up to be more than Total Expenditures Reporting negative amounts in the Total Expenditures and Subgranted columns

    37. FLAIR & CFDA No.’s Reporting entity requesting to add a CFDA in FLAIR shall send a request including the CFDA No., the CFDA Program Title, and the Federal Awarding Agency to: newaccountcode@myfloridacfo.com You can check this information on the CFDA website: https://www.cfda.gov/?s=program&mode=list&tab=list

    38. Federal Audit Letters Federal cognizant agencies send resolution letters to DFS requesting further responses DFS electronically sends letter to the A-133 contact of the agency of interest

    39. Federal Audit Letters A response is due within the time frame allotted by the Federal cognizant agency (e.g., 30, 60, 90 days) Respond directly to the Federal cognizant agency and copy DFS: fedreporting@myfloridacfo.com

    40. SEFA References Enterprise Accounting and Financial Reporting Website: (forms / guidance) http://www.myfloridacfo.com/aadir/statewide_financial_reporting/index.htm U.S. Office of Management and Budget Circular A-133 http://www.whitehouse.gov/sites/default/files/omb/assets/a133/a133_revised_2007.pdf U.S. Office of Management and Budget Circular A-133 Compliance Supplement & Changes to the Compliance Supplement (Appendix 5 ) http://www.whitehouse.gov/omb/circulars/a133_compliance_supplement_2010 CFDA website www.cfda.gov AICPA Audit Guide, Government Auditing Standards and Circular A-133 Audits (October 1, 2009) Florida Statutes Lookup: http://www.leg.state.fl.us/Statutes/index.cfm?Mode=Search%20Statutes&Submenu=2&Tab=statutes

    41. Statewide Cost Allocation Plan (SWCAP)

    42. SWCAP Authority/Guidance Section 215.195, Florida Statutes U.S. Office of Management and Budget Circular A-87 (now codified 2 CFR Part 225, Appendix C, Appendix D, Appendix E) Agency Addressed Memorandum No. 12 (2007-2008)

    43. Plan Submission and Approval

    44. SWCAP References Enterprise Accounting and Financial Reporting Website: (AA Memo) http://www.myfloridacfo.com/aadir/statewide_financial_reporting/index.htm U.S. Office of Management and Budget Circular A-87 (Circular A-87 is now codified 2 CFR Part 225, Appendix C, Appendix D, Appendix E) http://www.whitehouse.gov/omb/circulars/index.html Florida Statutes Lookup: http://www.leg.state.fl.us/Statutes/index.cfm?Mode=Search%20Statutes&Submenu=2&Tab=statutes

    45. Federal Reporting Contacts Mike Rutherford Financial Administrator (850) 413-5594 Mike.Rutherford@myfloridacfo.com David James Senior Management Analyst II (850) 413-5666 David.James@myfloridacfo.com Steve Wilson, CPA Professional Accountant Specialist (850) 413-5643 Steve.Wilson@myfloridacfo.com Tanner Collins Professional Accountant Specialist (850) 413-5534 Tanner.Collins@myfloridacfo.com

    46. Questions & Comments

    47. Evaluations Please complete evaluations before you leave Thank you!!