Fiscal Monitoring Services

The Vendor is required to provide financial monitoring review and fiscal integrity reviews of sub recipient contracts.
- Fiscal monitoring is to ensure that:
• Intended program resources are expended on reasonable, necessary, and allowable activities.
• Resources are efficiently and effectively used for authorized purposes and are protected from waste, fraud, and abuse.
• Reliable and timely financial information is captured and reported.
• Applicable laws, rules, regulations, policies and contract terms and conditions are adhered to.
- Fiscal monitoring includes the monitoring of the fiscal activities of the board’s sub recipient as they relate to federal and state funds administered by agency.
• Determine whether expenditures have been charged to the cost categories and within the cost limitations specified in the applicable laws and regulations.
• Determine whether there is compliance with provisions of applicable laws and regulations, contract provisions, uniform administrative requirements for grants and agreements as promulgated in the circulars or rules of the office of management and budget, and official directives.
• Provide technical assistance as necessary and appropriate.
• Development and implementation of a risk assessment tool and a fiscal monitoring plan, to be included into the board’s comprehensive monitoring program.
• Development of a reporting and resolution process.
• The development of written policies and procedures that describe and support continuous quality improvement of fiscal operations for approval of the board.