Common use of Cost Reporting Clause in Contracts

Cost Reporting. Recipients will be reporting their Federal share of grant program expenditures (including indirect costs, if applicable) through AmeriCorps’ eGrants system. Recipient’s financial management systems must be able to routinely produce reports which support and reconcile to the amounts drawn from the Payment Management System (PMS) and/or reported to eGrants. As part of closing out individual awards, recipients must ensure drawdowns reconcile to the FFR in eGrants as applicable within 120 days of the end of the project period. Recipients must also ensure that the financial management systems of any subrecipients can routinely produce the same reports. As part of its ongoing fiscal oversight of recipients, AmeriCorps may randomly select recipients to provide reports supporting their Federal cash disbursements (including supporting information for cash disbursements made by subrecipients). AmeriCorps expects recipients’ and subrecipients’ financial management systems to be able to produce those supporting reports on a routine basis.

Cost Reporting. Recipients will be reporting report their Federal share of grant program expenditures (including indirect costs, if applicable) through AmeriCorps’ eGrants systemGrants Management System. Recipient’s financial management systems must be able to routinely produce reports which support and reconcile to the amounts drawn from the Payment Management System (PMS) and/or reported to eGrantsin AmeriCorps’ Grants Management System. As part of closing out individual awards, recipients must ensure drawdowns reconcile to the FFR in eGrants AmeriCorps’ Grants Management System as applicable within 120 days of the end of the project period. Recipients must also ensure that the financial management systems of any subrecipients can routinely produce the same reports. As part of its ongoing fiscal oversight of recipients, AmeriCorps may randomly select recipients to provide reports supporting their Federal cash disbursements (including supporting information for cash disbursements made by subrecipients). AmeriCorps expects recipients’ and subrecipients’ financial management systems to be able to produce those supporting reports on a routine basis.