|Date Issued:||07/26/2007||Date Last Updated:||07/26/2007|
|Bulletin Name:||Revised Federal Grant Procedures - Refunds, Credits and Returns|
To notify agencies of revisions to the following Sections of the New York State Accounting System User Procedures Manual regarding new accounting requirements for refunds received from federal grants after the Final Grant Award Status Report has been filed with the Federal Program Agency:
Throughout the life of a grant award, Grant Award Status Reports are required by all, or virtually all, Federal Program Agencies. Once the program objectives have been met or the term of the award has expired, the grantee State Agency must prepare a Final Grant Award Status Report (Final Report) to be filed with the Federal Program Agency. The Final Report MUST contain award expenditures and disbursements that are reconciled and are in agreement with records maintained in the State's Central Accounting System. Once the Final Report is transmitted to the Federal Government, no further expenditures, refunds or credits to the related State appropriation records are permitted. This ensures that the State's grant award records remain in alignment with the federal grant management system and ultimately the payment management systems at the time the award is closed.
It is required that any refunds received on a grant after the Final Report is filed with the Federal Program Agency, be deposited with a Report of Monies Received (AC909) and be accompanied with a Special Charge Voucher (AC916) to effect a refund to the US Treasury. These procedures are available in Volume XI Section 5.0500.
|Exceptions - New:||
Since terms and conditions can vary for each individual grant awarded to NYS relating to refunds received after the expired grant date, it is necessary to expand the Refund of Appropriation Expenditure Procedures for Federal funds.
In some instances, when the Final Grant Award Status Report has been filed and the award is closed, the Federal awarding agency permits recovered funds to be credited to an open year award and used for approved program purposes. Refunds will be processed as an appropriation credit to an ‘active' federal fund State appropriation provided for identical program purposes when the State agency:
Federal Grant Refund Procedures:
Refunds of Appropriation Expense (AC1286)