The objective of the fiscal monitoring process is to confirm providers are expending funds according to grant guidelines. ICCB staff will conduct a fiscal monitoring review for each provider at minimum once every five years. There may be a scheduled on-site visit for some programs, but the majority of fiscal monitoring will be completed through a desk review.
The fiscal monitoring process consists of reviewing the provider’s revenue and expenditures in the general ledger for the Perkins grant of the requested fiscal year. After the initial review, there will often be a second request for back up documentation on sampled items from the initial review. The following five (5) categories outline the specific types of expenditures and information that are reviewed to ensure fiscal compliance: equipment, salaries, student information, transit of funds, and cash on hand.
Once the fiscal monitoring review is completed, a summary report is written and sent to the provider for their review and response. This report will include any compliance findings or advisory recommendations.
For more information regarding the fiscal monitoring process see the Perkins Grant Manual or contact:
Director for Financial Compliance and Accountability