federalgrantaccountingandreportingpolicy;cmia（9页）.docVIP

MMARS Policy: Federal Grants Issue Date: September 8, 2014 Date Last Revised: September 8, 2014 Federal Grant Accounting and Reporting Executive Summary The purpose of this policy is to provide guidance to departments for the financial management of federal grants activity in the state accounting system (MMARS). Considerations MMARS is the official record of the Commonwealth for federal grant expenditure and revenue information. Departments must take special care to ensure that the information entered into MMARS for any federal grant is accurate and complete. While federal grants processing in MMARS has some automated processes, review and reconciliation of federal grant account activity is required to ensure the accuracy of the accounting system. State departments are responsible for working with the Comptroller (CTR) and the Treasurer (TRE) to ensure that federal funds are received in a timely fashion and in compliance with all federal and state regulations. State departments must inform CTR of impending changes in processes or in codes that may affect future requests for federal funds. Below is an alphabetical listing of topics detailed in this policy. Accounts Payable Period/Cross Fiscal Year Applying for a New Federal Grant Assessment of the Indirect Cost Rate Refunds Cash Management Improvement Act (CMIA) Treasury State Agreement (TSA) Closing the State Fiscal Year Comptroller Implementation of State Accounting System and Internal Controls Converting from Non-Central Draw to Automated Central Draw Disbursement of Federal Grants Draw-Down Reimbursement Mechanism: Automated Central Draw Mechanism DUNS Numbers for Federal Grants Exception to Automated Central Draw Mechanism: Non-Central Draw Mechanism Expenditure Correction (EX) and Payroll Adjustment (LARQ PRADJ) for Federal Grants Federal Funding Accountability and Transparency Act (FFATA) Reporting Federal Grant Chart of Account Elements MMARS Set-up Federal Grant Interde