Post assistance requirements...
Local Boards are expected to monitor the expenditure of funds in their respective jurisdictions. It is for that reason that requests for second checks (all awards are divided into two payments) must be made by the Local Boards. Along with the request for the second payment, the National Board receives an interim report on eligible spending during that phase. A Final Report also must be filed by each LRO with its Local Board. The Local Board then compiles all the Final Reports within its jurisdiction and submits them (along with any requested documentation) to the National Board. Failure of an LRO to file a Final Report will result in its award being held in escrow the succeeding year.
This section indicates whether program reports, expenditure reports, cash reports or performance monitoring are required by the Federal funding agency, and specifies at what time intervals (monthly, annually, etc.) this must be accomplished.
Local recipient organizations receiving $25,000 or more in EFS funding must have an independent annual audit in accordance with Government Auditing Standards. Organizations must meet the requirements of OMB Circular No. A-133 as applicable. In addition, the National Board reviews all new agencies and any agencies with previous program compliance problems. This desk audit for program compliance includes the submission of all supporting documentation (invoices, canceled checks, etc.) For fiscal year 2004, on-site monitoring reviews and audits have also been scheduled by EFS staff. FEMA's Office of Inspector General also conducts random field audits while the National Board has a private accounting firm perform an additional sample audit.
This section discusses audits required by the Federal agency.
The procedures and requirements for State and local governments and nonprofit entities are set forth in OMB Circular No. A-133.
These requirements pertain to awards made within the respective State's fiscal year - not the Federal fiscal year,
as some State and local governments may use the calendar year or other variation of time span designated as the fiscal year period,
rather than that commonly known as the Federal fiscal year (from October 1st through September 30th).
Local Boards are required to remain in operation until all program and audit requirements of the National Board have been satisfied. All records related to the program must be retained for three (3) years.
This section indicates the record retention requirements and the type of records the Federal agency may require.
Not included are the normally imposed requirements of the General Accounting Office.
For programs falling under the purview of OMB Circular No. A-102, record retention is set forth in Attachment C.
For other programs, record retention is governed by the funding agency's requirements.