Hello. My name is Bonnie Janicki.
And I'm a senior grants officer at the Corporation for National and Community Service.
Today I'm going to talk to you briefly about the Federal Financial Report.
During this brief talk, I'm going to answer four basic questions.
What is the Federal Financial Report?
How will you submit this report?
What new information will be collected?
And what has been removed form this report?
And what is the corporation's implementation plan?.
After I answer these questions, I will then briefly walk you through the eGrant screens
for entering the Federal Financial Report and finally tell you
where you can find our posted frequently asked questions.
This FAQ includes all information that I will cover today with you.
With that said, let's begin.
What is the Federal Financial Report?
The Federal Financial Report, also known as the FFR, issued by the Office of Management
and Budget, also known as OMB, is a consolidated Federal Cash and Federal Expenditure Report.
It is replacing the Financial Status Report that you submit to us,
and the Federal Cash Transaction Report that you submit to the Payment Management System.
It also creates a governmentwide standard for reporting periods and due dates.
All reports be it annual, semiannual, quarterly, or final will have a reporting period end date
that falls on the end of a calendar quarter.
And reports will be due 30 days after the reporting period has ended.
Federal agencies will have the option to specify which data elements from the FFR they want
to require but may not collect more than what appears on the form.
Okay. On to the second question.
How will you submit the FFR?
In accordance with guidance from OMB, the Corporation will continue
to have you submit your expenditure data via eGrants
and your cash transaction data via the Payment Management System.
Although the actual FFR Report will not look the same as the FSR, the Corporation has tried
to keep the design of the FFR screens as close
to the Financial Status Report screens as possible.
You will access the FFR in eGrants the same way you access the Financial Status Report.
eGrants will continue to display the previously entered amounts and continue
to calculate totals and percentages.
Now for the [inaudible] FFR information.
What new information will be collected and what has been removed from the FFR.
There are eight items of interest that I will go over with you right now.
First, the Final Check Box has been replaced with a drop down Report Type menu
where you will select annual, semiannual, quarterly, or final FFR.
Second, the Total Recipient Share Required is a new field and will auto-calculate based
on the overall match percentage in the approved budget.
Third, another new field is the Remaining Recipient Share to be Provided
which is simply a calculation based on the difference
between Total Recipient Share Required and Recipient Share of Expenditures.
Fourth, the Recipient Share of unliquidated obligations field has been removed.
Fifth. Program Grant Fees, the split between operating costs and member costs
and both the federal and recipient share and for senior program fees the split
between support costs and volunteer costs have been removed.
And now the exciting field and sixth point.
We have added an excess program income field.
You will only enter data here if you have earned program income in excess
of what you have reported in the recipient share of the expenditures section.
Let me stress this again.
This field is only for excess income that is not captured in the recipient share of expenditures.
The seventh we have eliminated the need for you to complete indirect expense section.
Also if you are a senior corporate employee you will no longer report volunteer data
and foster grandparent and senior corp non-stipend and retired senior care volunteers
with foster grandparents and senior corp type service on the FFR.
These fields have been moved to the senior corp progress report.
and finally the eight point is that we have increased space available for to add comments
in the remarks field and encourage you to use the space as necessary.
Now for the final question to cover.
What is the Corporation's implementation plan?
Grantees of financial reports with reporting periods that end on 12/31/08,
and all subsequent reporting periods must submit financial data in eGrants using the FFR.
As it is now, the Corporation does not require sub-grantees to submit a financial report to us
but our direct recipients are required to have accurate and timely sub-grantee data
to complete their financial report.
If you need a copy of the electronic version of the FFR for either you or your sub-grantees,
you can find it at our resource center or at OMB's website.
The new FFR screens will be available in eGrants for you
to begin entering your data after the 5th of January.
Also you will continue to submit your Cash Transaction Report the same as always.
The Payment Management System plans on implementing their new form by October 1, 2009.
Should you have any questions please contact your grants officer.
We will spend our last few minutes briefly walking through the data entry of the FFR.
Like always, you will open eGrants and go to the Reporting to CNCS section on the home page.
Click on the Financial Report link.
Find the report you're going to work with.
And click edit.
We are now moving to the General Information tab.
All of the data on the general information tab in the beginning is the same as before.
In the Report Type field from this drop down menu, you will now select your report type.
For most of our grantees you will select semiannual.
Then you complete the rest if the general information like always.
Then save and click next.
We are now, like always, on the Transaction Tab.
As I mentioned before you will see here for Americorps, and Seniorcorps grantees,
that the federal and recipient share are no longer broken
out between operating [inaudible] cost and volunteer [inaudible] member costs.
If you need to make an adjust to your previously reported amount
on the federal share you should do that here otherwise just leave that amount alone.
Then enter the amount of federal funds expended for this period here.
If you have any unliquidated obligations, you will enter it here.
Next you will want to complete the recipient share.
And now we're on to the excessive program income field.
Like I stressed before and as it is stated in the instructions,
enter only excess program income here.
This should only be amounts not already recorded in the recipient share of this report.
Then if you have expended any of your excess program income, depending on the terms
and conditions of your award, you will put the expended amount
in the deductive or additive line.
Here you will see that we've repositioned your expenditure analysis information.
Not only is it available for your use, but also it's a part
of what your grants officer uses during their FFR review as well.
Then click save and next.
We are now at the end of the FFR.
In the Remarks field we have expanded the space to make any of the comments you need
or want the grants officer aware of related to this report.
Please don't hesitate to use this field.
Finally, you will certify and submit as you always have.
Now, remember the actual report for the FFR does look very different
from the Financial Status Report, but as I've shown you,
the data required to populate this report has really not changed significantly.
If you have any questions, you should contract you grants officer.
Information on who and how to contact your grants officer can be found on the bottom
of your most recent Notice of Grant Award.
So in addition to this webinar, we have put together an FAQ that can be found
in our resource center, and you can download it right here.
Also in early January we will release a more comprehensive webinar
where we will walk you through each field of the FFR.
Thank you so much for your time, and remember
to always submit your report on or before the due date.