Governor Bruce Rauner
Chair Dr. Lazaro Lopez
Executive Director Dr. Karen Hunter Anderson

Illinois Community College Board

Fiscal Monitoring

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 three 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.

Accompanying Documents:

Fiscal Monitoring Cycle
Checklist
Time and Effort Distribution

For more information regarding the fiscal monitoring process see the Perkins Grant Manual or contact:

Kris Pickford
Director for Financial Compliance and Accountability
217.558.4680
kris.pickford@illinois.gov

Jared Ebel
Associate Director for Financial Compliance
217.524.0504
jared.ebel@illinois.gov