Office of Finance & Management

Title I Reporting Requirement

There will be two (2) financial type reports required for each project. They are a monthly financial cumulative status expenditure report (FSR) and an annual project completion report (PCR). The FSR should be used to request reimbursement of TITLE I funds. The PCR will include cumulative expenditures by function/object as stipulated in the budget of the approved project plan.

Title I funds must be expended as approved or amended. The applicant is required to request a transfer or amendment to any function in which expenditures/obligations within a function or object will exceed the approved/amended budget amount by ten percent (10%) or more and by more than $100.

INSTRUCTIONS FOR COMPLETING THE TITLE I MONTHLY FINANCIAL STATUS REPORT

Reporting Period: Period of expenditures/obligations since last status report.

Budget Number, Budget Period, Date Approved and Local Education Agency and Address: From Page 7A of the plan.

(A) Total Approved Budget: From Page 7A of the plan; (B) Cumulative Expenditures: Report CUMULATIVE expenditures to date for each approved function; (C) Obligations: Report OBLIGATIONS only as of the end of the reporting period. Do not list expenditures; (D) Total Expenditures and Obligations: Column B plus Column C; and (E) Budget Balance: Column A minus Column D.

(7) Equipment purchased this reporting period must have an updated equipment inventory form attached to the FSR. (FSR is not processed until both the FSR and the equipment inventory report have been submitted to the Grants Management office.)

(8) **Grand Total: Should not exceed the total approved in Title I plan on Page 7A.

(9) Indirect Cost Rate: Percentage calculated by Department of Education and Cultural Affairs. (Page 7A of the plan). (6) Indirect Costs: Approved rate times subtotal of cumulative expenditures and current obligations. Indirect costs MUST BE REDUCED if payment of obligations are less than were originally obligated.

(10) Funds Received OR Requested Prior to this Report: Title I funds received or requested from state agency from prior financial status reports.

(11) Line (8) Column (B) **Total [Exp Only]: Do not include obligations in this total. Expenditures only.

(12) Funds on Hand. Difference between revenue received or requested and total expenditures. Line [10] minus line [11].

(13) Funds Requested This Period: Amount of funds to meet EXPENSES FOR NEXT REPORTING PERIOD.

(14) Total Title I Funds Requested/Received: Total of funds received to date plus funds requested this reporting period. Line 10 plus Line 13.

(15) Obligations Paid After June 30th: For FSR’s submitted after June 30. Indicate the amount of obligations paid after June 30.

Authorized Representative: Must agree with page 1 of approved project plan. If not the same, a copy of the Board Minutes naming the authorized representative MUST be sent to the Grants Management office.