ARRA Receipts - Drawdown
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ARRA Receipts - Drawdown |
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TEA wires funds directly to a District bank account. Records are reviewed daily for the receipt of funds. As funds are received, a bookkeeper in the Business Office codes the funds to the appropriate revenue account number. Receipts are reviewed daily by the Account Manager, or designee, for accuracy.
Procedures for Drawdown of Funds 1. Each Staff Accountant and the Chief Accountant has grants assigned to them for periodic reimbursement. 2. Reconcile the general ledger to the activity sub-system. Verify that all account codes balance. 3. Review expenditures for items charged to grant by system, due to Lawson payroll system set up. 4. Run an Activity Commitment Summary (AC295) in Lawson system. Move printout into excel and total all Actual Expenses. Print this out for back-up. 5. Complete expenditure form or on-line expenditure form. Print out expenditure form and attach back-up. 6. Take to Chief Accountant or Director of Accounting for Review and Approval. The print out will be initialed and dated by the approver. For TEA, Chief Accountant and Director of Accounting will certify expenditure reports. 7. The responsible Accountant will write general ledger and activity code on expenditure form and a copy is given to the bookkeeper that books the deposits. 8. File copy of expenditure report and back-up in grant notebook.
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