Updated deadlines and procedures for Formula Grant quarterly review of expenditures and year end close out.

Quarterly Review of Expenditures

Quarters end December 31, March 31, June 30, and September 30, annually.

1. Determine whether expenditures have posted appropriately to Formula Grants.
2. Provide cost transfers (non-salary and/or salary payment) within 10 business days from the end of the quarter.
3. Provide support documents for expenses incurred during the quarter within 10 business days from the end of the quarter.

Year End Close Out

1. ALL blanket orders, both internal and external vendors, will close June 30. This does not preclude requisitioning individual items needed during the July-September period. The ONLY exception is item 2.
2. ONLY blanket orders to DoIT will be accepted during the July-August period. DoIT blanket orders will require a new requisition for this period.
3. Specific requisitions for supplies, including requests for copy cards or additions to copy cards, can be processed on the current project number. A strong written justification must be provided for supplies and equipment charges incurred within 30 days from the budget period ending September 30.
4. Supplies may be purchased up to the project budget period end, September 30 on the current project number. A strong written justification must be provided for supplies and equipment charges incurred within 30 days from the budget period ending September 30.
5. Extra labor funds will remain with the project to enable processing of the October A student hourly and/or LTE hourly payrolls.
6. Rebudget requests will not be approved after September 30.
7. Travel expenses, internal billing (i.e. gas, copying, fax, etc.), non-salary payment and salary payment transfer requests occurring PRIOR to September 1 must be submitted by September 30. Travel expenses and internal expenses occurring IN September must be submitted prior to October 10.