If there are expenses that should be charged to or deducted from the previous report’s expenditures amount, create a new column labeled “Adjustments” and enter the necessary adjustments, noting if the adjustments are positive (adding) or negative (subtracting). Enter the sum of the total expenses by line item and the cumulative expenses from the previous expenditure report in the “Cumulative Expenses to Date” column. If the report being prepared is the first expenditure report of the subaward, the “Expenses this Period” will be the same as “Cumulative Expenses to Date.” Include any adjustments made in the “Adjustments” column, if necessary. Calculate and enter the balance by subtracting the “Cumulative Expenses to Date” line-item total from the “Budget” line-item total. Enter in the “Cash Report” section all payments from ICAP to the subrecipient for activities and costs associated with the subaward Scope of Work. Include the month and year that funds were received. Enter the total from the “Cumulative Expenses to Date” column in the “Cash Report” table. Calculate the difference between the total “Cash Received” and the “Cumulative Expenses to Date” to find the balance of cash on hand. Enter the name and title of the subrecipient authorizing official. Procure the signature of the authorizing official. Enter the date of the signature. Print on subrecipient letterhead. Send the report and accompanying documents to the ICAP Subaward Representative, and keep a copy on file. REIMBURSEMENTS Some subrecipients are funded under a cost-reimbursement method rather than a method. For payment by reimbursement, the subrecipient must submit a signed invoice for subaward expenses for the previous month(s), including supporting documentation for all invoiced expenditures. In addition, the subrecipient must submit a Quarterly/Monthly Expenditure Report to document current and past expenditures and all payments from ICAP. The expenditure report must be signed by an authorized official of the subrecipient organization and must conform to all specifications above. FINANCIAL MANAGEMENT AND ACCOUNTING SUBRECIPIENT PAYMENT OF EXPENSES While subawards must be requested in U.S. dollar (USD) amounts, subrecipients will generally use local currency for their transactions. Subrecipients may not open USD
In the event of loss of equipment through theft or any other means, the subrecipient must immediately report the loss to ICAP, no matter the dollar amount. The subrecipient should obtain a police report, where available, and other documentation of the loss or damage, and send the report to the ICAP Country Office as soon as it is available. If the loss or damage involves a vehicle, it must be reported to ICAP even if the local insurance policy may cover the loss. If the local insurance company provides compensation for the loss or damage, these funds may not be spent without prior written approval from the ICAP Country Director. The subrecipient may not replace a lost asset without consultation with ICAP and sponsor approval. Personal Use of ICAP-Funded Property: Equipment purchased with ICAP funds may not be used for personal use, either for an employee or non-employee of the subrecipient. Equipment may only be used for program-related activities, unless specific ICAP approval is obtained. Changes in Status of Equipment: Whenever there is a proposed change in the status of equipment procured with USG funding through ICAP, e.g., through disposal, the subrecipient should notify the Subaward Representative. ICAP will then determine if the change in status requires approval from the sponsor and if so, will seek that approval. Change of Location: Subrecipients should notify the Subaward Representative of any permanent change in equipment location, even if the move is from one subrecipient site to another within the same region. Disposition of Property: For procedures on disposition of assets, see . TIMEKEEPING SYSTEM AND DOCUMENTATION Subrecipients receiving salary support from ICAP must have in place a timekeeping system to facilitate the management and documentation of employee time and effort. For each employee receiving salary support, a timesheet must be prepared at least monthly and should be signed by the individual employee and the supervisor. The Subrecipient Monthly Timesheet Template is recommended for use by subrecipients. Documents supporting employee timekeeping must be consistent with the requirements of the (commonly referred to as the Uniform Guidance – 2 CFR 200). ANNUAL TIME AND EFFORT CERTIFICATION