Michigan Department of Education

Great Start Readiness Program

GSRP Fiscal Audits

GSRPFiscal Audits

Policies and Guidelines

1. State Legislation2. Assurances and Certifications3. GSRP Implementation Manual4. MI Public School Accounting

Manual5. Generally Accepted Accounting

Principles (GAAP)

GSRPFiscal Audit Process

1. ISD Notification2. On-Site3. Documentation 4. Final Report5. Compliance Plan

GSRPDocumentation

ISDGeneral Ledger (GL)GSRP Policies and ProceduresGSRP Employee ListPayroll ReportsContracts – subrecipients,

vendors, employees

GSRPDocumentation

MEGS+ Final Expenditure Report

(FER)Carryover FERBudgetsOther reports/pages as

necessary

GSRPDocumentation

General Ledger:Revenues

Expenses

MEGS+FERCarryover FERBudgets

GSRPDocumentation

GSRP Policies and Procedures Internal ControlCARES:- Compliance-Accomplish-Relevant and Reliable-Efficiently and Economically-Safeguard

GSRPDocumentation

What policies? Where do we start?

Examples of Policies and Procedures

Cash Management Procurement

GSRPEmployee List and Payroll

Reports

Direct GSRP Employees

Salary Benefits

Proration

GSRPContracts

Include:- Scope of services- Defined compensation- Signature of all parties w/titles - Dated- Defined period

GSRPContracts

GSRP Implementation Plan

ISD Responsibilities section

Written Agreements

GSRPFiscal Audit Final Report

Findings Commendations Recommendations

GSRPFiscal Audit Compliance Plan

Alright, all gears stopWhat do I do now?

Steps to meet GSRP Compliance

GSRPFiscal Audit

Hints

1. Policies and procedures 2. Contracts3. Allowable Costs