Agenda - 05-08-2014 - 6d - Laserfiche WebLink

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34 Documents requested of the subrecipient may include: personnel policies; annual audit; by -laws; fidelity bond; insurance policy; financial policies; tenant selection policies; and marketing strategy. • An exit conference is held with subrecipient staff to discuss concerns and recommendations and to give the subrecipient agency an opportunity to ask questions or clarify policies. • The PJ prepares a draft of the monitoring assessment letter to the subrecipient agency's Director for review. The subrecipient is given the opportunity to make corrections or provide additional information. • Formal assessment letter is sent from the PJ to Director and Board Chairperson for the subrecipient. • Staff presents the monitoring letter at a regularly scheduled Board meeting to respond to questions or concerns. • The subrecipient submits its response to the assessment letter. In order to facilitate desk - reviews of subrecipients who are not monitored on -site, subrecipients are required to submit detailed regular reports that describe the progress of their programs, including rates of expenditure. Quarterly report deadlines are: April 15th (Jan -Mar); July 15th (Apr- June); October 15th (July- Sept); and Jan 15th (Oct -Dec). Final reports include a summary of the program's accomplishments — including the actual number of beneficiaries —and a description of how funds were used. In certain situations, such as rental housing development, annual reports (due July 15) may be required after the project is completed for the duration of the affordability period. Each subrecipient is graded and its score is listed in one ( 1 ) of three categories: low risk: 0 -30 points; moderate risk: 31 -50 points; and high risk: 51 -100 points. Based on the scoring for each subrecipient, the Consortium determines its annual monitoring schedule based on the number of moderate and high risk subrecipients. As a general rule, the staff will monitor on -site all moderate and high risk subrecipients on an annual basis, typically at the midway point of the Fiscal Year. Conversely, the low -risk subrecipients are monitored on -site every other Fiscal Year during the same timeframe, and desk reviews are conducted throughout the year. When a subrecipient's risk assessment calls for an on -site monitoring, the following procedures are followed: • The PJ reviews its own files on the subrecipient to be monitored, particularly quarterly reports, performance agreements, and payment requests. • A visit is made to the subrecipient. PJ staff meets with subrecipient staff, reviews financial and administrative management, and visits program sites. Documents requested of the subrecipient may include: personnel policies; annual audit; by -laws; fidelity bond; insurance policy; financial policies; tenant selection policies; and marketing strategy. • An exit conference is held with subrecipient staff to discuss concerns and recommendations and to give the subrecipient agency an opportunity to ask questions or clarify policies. • The PJ prepares a draft of the monitoring assessment letter to the subrecipient agency's Director for review. The subrecipient is given the opportunity to make corrections or provide additional information. • Formal assessment letter is sent from the PJ to Director and Board Chairperson for the subrecipient. • The subrecipient submits its response to the assessment letter. FY 2014 -2015 Action Plan 29