Office of Finance & Management

Title IV Reporting Requirement

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

Title IV 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 IV MONTHLY FINANCIAL STATUS REPORT

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

Budget Number, Date Approved, and Local Education Agency and Address: From Page 9 of the plan.

(A) Approved Budget: List by category from Page 9 of the application; (B) Previously Claimed Expenditures: Report total claimed expenditures from column D of previously submitted claim; (C) Currently Claimed Expenditures: Report expenditures being claimed since the previous claim; (D) Total Claimed Expenditures: Column B plus Column C; and (E) Budget Balance: Column A minus Column D.

(6) Indirect Costs: Approved rate times subtotal of Previously Claimed Expenditures and Currently Claimed Expenditures.

(7) Capital Acquisitions: Capital Acquisitions can only be for security equipment and cannot exceed twenty percent (20%) of Title IV funds. 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 IV plan on Page 9.

(9) Indirect Cost Rate: Percentage calculated by Department of Education and Cultural Affairs. (See IASA Allocation Sheet or Page 9 of the plan.)

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

(11) Total Claimed Expenditures: Line 8 Column D.

(12) Funds Needed to be Requested This Period: Difference between revenue received or requested and total expenditures. Line 11 minus line 10.

(13) Total TITLE IV Funds Requested/Received: Total of funds received to date plus funds requested this reporting period. Line 10 plus Line 13. Should equal Total Claimed Expenditures (Line 8 Column D).

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

Authorized Representative: Must agree with Page 10 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.