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The IHL Institutions will be SUB-RECIPIENT Of SFSF from the Governor

Mississippi Institutions of Higher Learning (IHL) EXHIBIT G Business Process for Requesting, Distributing, Reporting and Oversight of State Fiscal Stabilization Funds (SFSF) American Reinvestment and Recovery Act (ARRA) of 2009 (Process as of 11/9/09).

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The IHL Institutions will be SUB-RECIPIENT Of SFSF from the Governor

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  1. Mississippi Institutions of Higher Learning (IHL) EXHIBIT GBusiness Process for Requesting, Distributing, Reporting and Oversight of State Fiscal Stabilization Funds (SFSF)American Reinvestment and Recovery Act (ARRA) of 2009 (Process as of 11/9/09) The IHL Institutions will be SUB-RECIPIENT Of SFSF from the Governor IHL Executive Office will require each institution to submit a narrative regarding its plan for use of SFSF and identification of its official point of contact. Is report and supporting documentation sufficient for processing of payment? IHL Executive Office is responsible for establishing the IHL state appropriated and other funds FY budgets in the Statewide Automated Accounting System (SAAS) System and submitting paper 1) DFA Form Z-1 and 2) DFA Escalation of Federal Funds Form. (Must be submitted at same time) NO YES All documents will be forwarded to Director of Support Operations for final review, approval and update to a summary spreadsheet tracking SFSF requests. IHL Executive Office Contracts & Grants Accountant will contact Preparer of Request via email (cc to Institution’s POC, & CFO & Director Support Operations) where additional explanation and/or supporting documentation will be requested. IHL will communicate to each institution its SFSF amount via an official award notice directed to the Institutional Executive Officer and Chief Financial Officer. Summary spreadsheet (current and cumulative requests per institution) will be forwarded onto Director Of University Budgets for input into SAAS. Source documentation will be maintained in a official designated location within Finance & Administration. • IHL will develop template for SFSF monthly expenditure reporting purposes. The template will require expenditures be reported on a line-item category basis. Additional reporting requirements will be incorporated. • Support documentation including a copy of the institution’s detailed general ledger report will be required. • CFO must sign Director of University Budgets will follow standard procedure for inputting payment request amount into SAAS. Institutions’ bank account will be credited via ACH within 3 to 5 days of submission. IHL Executive Office of Contracts & Grants will conduct pre-audit of institution’s report and supporting documentation. 1) Periodic desk audits will be conducted in which copies of support documentation will be required. 2) Compliance reviews will be lead by the Internal Auditor. 3) Program considered “major” program and will be subject to single audit. Continuous updates (reporting/oversight) will be posted to the Stimulus section on IHL’s website. Link: http://www.mississippi.edu/stimulus

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