In these cases, the Board needs to determine whether the project is still viable, what the new timetable for the project should be, and whether the entire approved funding for the project should remain allocated to the project. Deadlines for submitting grant expenditures would assist the Board in closing out grant files and predicting when payments for projects will be finalized. Established guidelines for cases in which project completion dates are not met would aid the Board in addressing these situations in a consistent way and utilizing its resources in the most beneficial manner to meet its constitutional mandate. The Board will establish policies regarding deadlines for reimbursement requests, define guidelines for handling projects which are delayed past their completion date, and further define procedures for reallocating funds which were designated for a grant but will not be spent on that grant. Increase the Reliability of Interim Financial Information Great Outdoors staff produce interim financial information to aid the Board and staff in overseeing activities and in decision making.
Staff have some procedures in place to verify the reliability of interim information.
However, there are additional areas where procedures are needed to ensure that information given to the Board and used by staff is dependable. These areas include grant expenditures, grants payable, accounts payable, fixed assets, and miscellaneous receivables. Of these areas, grant expenditures are particularly important because of the need to monitor project expenditures. Until the fourth quarter of Fiscal Year 1995 the Board did not have a grant tracking system in place. Therefore, reconciliations between the tracking system and the accounting system could not be performed.