Riverside Community College District Grants Office

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Riverside Community College DistrictGrants Office

• Year-End Closing Requirements for Project
  Directors

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Recommendations

• Monitor program activities and expenditures early
  and often throughout the fiscal year
• Avoid spending large amounts of funds at the end
  of a grant year, especially if it is the end of a
  multi-year award period
• Assess the need to provide notification of the
  expiration of a specially funded program to
  classified staff per California Education Code
  section 88017

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Year-End Closing Requirements

• Remain cognizant of year-end purchasing deadlines
  and plan authorizations accordingly
• Grants are subject to all year-end purchasing
  deadlines
• If a budget transfer is needed to re-allocate
  funding between major object code categories,
  transfer will require board approval

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Year-End Closing Requirements

• Request and process all final payments for the
  current fiscal year
• Special project time sheets
• If work not to be completed in the academic term,
  special project should be closed out
• Summer term hours through June 30th should be
  submitted as soon as the work is completed
• Time sheets for hourly employees
• Vendor invoices
• Invoices related to sub-awards and contract
  agreements
• Itemized expense requests for travel
• Mileage reports

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Year-End Closing Requirements

• Purchase orders are encumbered. If an entity to
  whom you have authorized funds on a P.O. invoices
  for more or less than what was encumbered, you
  will either need to have an add-on processed or
  make a request to disencumber the remaining funds

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Year-End Closing Requirements

• Plan in advance for authorizations that will need
  to be in place at the start of the upcoming
  fiscal year and process them ahead of time
• If the authorization requires board approval
  (e.g. contract agreement over 76,700), submit
  it to the board in the current fiscal year (there
  is no board meeting in July)

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Year-End Closing Requirements

• What it means when the grant year extends beyond
  the college fiscal year
• Projecting costs for the remaining grant year
• Staff salaries
• Salaries of permanent staff are only encumbered
  through the end of the fiscal year, however, you
  can include salary costs that extend beyond the
  fiscal year in the adopted or revised budget
• Costs for special projects or hourly staff are
  not encumbered

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Year-End Closing Requirements

• Statutory benefits
• What they are STRS, PERS, SUI, FICA, Medicare,
  Workers Compensation
• 2008-09 rates
• Certificated _at_ 11.31
• Classified _at_ 18.688
• Hourly _at_ 3.06

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Year-End Closing Requirements

• Health and welfare benefits
• Medical plan
• Varies according to plan chosen and number of
  covered members
• Paid October through June with two payments in
  June
• Delta dental paid monthly
• Life insurance - Paid October through June with
  two payments in June
• For health and welfare benefit rate information,
  call Pauline Castro at x3873
• Increase 10-20 each benefit year

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Year-End Closing Requirements

• Grant-funded positions spreadsheets used in
  developing a tentative budget expected to be
  sent out in mid-April
• Changing staff allocations
• Change Salary Budget Codes form
• Teaching assignments
• Completing Final Budget Worksheets
• Carryover and new year funding

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Year-End Closing Requirements

• Galaxy housekeeping
• Check to ensure that all charges are allocable to
  the program
• Assess the need for budget transfers
• As long as you maintain a neutral or positive
  balance in the major object code categories 3XXX,
  4XXX, 5XXX 6XXX and 7XXX, it is not necessary to
  cover negatives in individual line items
• In the 1XXX and 2XXX categories, each individual
  line item in these categories must always be
  neutral or positive