Business Management Systems for Grant Recipients
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Grant recipients and Subawarding agencies must implement the broad Federal standards for business management systems. Participants enhance skills needed to evaluate and improve systems for accounting, procurement, personnel, property, and travel. Students develop an action item list to check for and monitor system improvements at their organization. This is an elective course in the Pass-Through and Recipient Tracks of the Grants Management Certificate Program™.
- Identify the business management systems for which federal agencies set standards
- Discuss the statutory and regulatory requirements that impact recipient business management systems
- Develop a working definition of adequacy for each system
- Examine elements that comprise business management systems, as defined by OMB and established by good business practices
- Review sample records and forms used to document system operations
- Discuss the benefits that result from establishing and maintaining adequate systems
- Review procedures federal agencies have established to certify the adequacy of recipient business management systems
- Prepare action item lists to improve organizational systems
- Which Systems Are Subject to Federal Standards?
- What Constitutes an “Adequate” System?
- Federal Standards for Financial Management Systems
- Components of an Adequate Accounting System
- Accounting System Internal Controls
- Federal Requirements for Cash Management
- Budget Control
- Allowable Costs
- Accounting Records and Source Documentation
- Financial Reporting
- Benefits of an Adequate Accounting System
- Federal Procurement Standards
- Components of an Adequate Procurement System
- Procurement System Internal Controls
- Benefits of an Adequate Procurement System
- Components of an Adequate Personnel System
- Personnel System Internal Controls
- Benefits of an Adequate Personnel System
Property Management System
- Components of an Adequate Property Management System
- Real Property
- Property Management System Internal Controls
- Benefits of an Adequate Property System
- Components of an Adequate Travel System
- Travel System Internal Controls
- Benefits of an Adequate Travel System
Impact of Establishing and Maintaining the Required Systems
- Maintaining Adequate Financial and Management Systems
- Agency PoliciesFederal agencies have not published implementing rules or agency policies reflecting the Uniform Guidance, therefore, the agency policies discussed in this section reference the previous OMB grant circulars and guidance. The inclusion of the policies is designed to promote discussion and reflection on how agencies implement OMB grant guidance.
- Ramifications of Agency Reviews and Audits
Who should attend
Personnel responsible for ensuring that their systems meet the requirements for managing Federal grant funds. Auditors and Federal personnel, and Pass-Through Entities who review and evaluate recipient and subrecipient systems will benefit from this course.