EdGrants 102: Final Financial Reports (FR-1)
EdGrants 102: Final Financial
Reports (FR-1)
Webinars hosted by Grants Management Staff
2
•
10% threshold rule: if line item is
overspent
by
$100 or 10% (whichever is greater) or
exceeds $10,000; an amendment would need
to be filed and is subject to program approval
prior to completing the Final Report (FR-1).
•
FR-1 displays the last approved budget on
file with GM.
•
Enter true expenditures by budget line item.
•
A signed copy is needed.
10% Threshold Rule
Submissions
Final Financial Report (FR-1)
•
Available in the Submissions menu in
EdGrants after the end date of the grant.
•
Due date of the FR-1 depends on type of
grant / end date; State, Federal or Federally
funded Multi-year. See next slide for more
info.
•
Upload a signed (PDF) FR-1 into EdGrants in
the Attachments list formlet.
•
FR-1 can be submitted, and grant project
closed even if funds were left unclaimed; no
decrease amendment needed.
Final Financial Report due dates
•
Final reports are due to be submitted 60 days after the
project ends.
3
*It is the expectation that all Applicants will fully obligate and expend the funds
in the first 2 years of the award. Moving funds into Year 3 should be viewed as
worst case scenario.
*It is the expectation that all Applicants will fully obligate and expend the funds
in the first 2 years of the award. Moving funds into Year 3 should be viewed as
worst case scenario.
Final Financial Reports (FR-1):
•
Submit FR-1 in EdGrants
o
Available in the submissions menu after the end date of the grant
o
Please do not file until all payments have been reconciled
o
Please review the last budget submitted to determine if an
amendment is needed prior to filing
o
Attachments List is where upload a signed PDF of the final report
o
Grants Management will continue to offer webinars in June and
throughout the summer/fall
6
Final Financial Reports (FR-1) Transitional Period
•
FY2017 reports and earlier:
o
Use excel form template, sign and email PDF to
EdGrants@mass.gov
7
How to get help?
1.
Call us at 781-338-6595
o
If urgent, or locked out of EdGrants – always call!
2.
edgrants@mass.gov
3.
Grants Management will have documentation as to how to
complete the Final Report. (To be posted, currently under
development).
(
http://www.doe.mass.edu/grants/default.html
)
8
Final financial reports (FR-1) play a crucial role in grant management. Learn about submission rules, due dates, threshold rules, and requirements for different grant types. Get insights on federally funded multi-year grants and important deadlines for various grant programs under ESSA and IDEA. Ensure compliance and successful closure of grant projects by adhering to the guidelines provided.
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Presentation Transcript
EdGrants 102: Final Financial Reports (FR-1) Webinars hosted by Grants Management Staff
Final Financial Report (FR-1) 10% Threshold Rule Submissions Available in the Submissions menu in EdGrants after the end date of the grant. Due date of the FR-1 depends on type of grant / end date; State, Federal or Federally funded Multi-year. See next slide for more info. Upload a signed (PDF) FR-1 into EdGrants in the Attachments list formlet. FR-1 can be submitted, and grant project closed even if funds were left unclaimed; no decrease amendment needed. 10% threshold rule: if line item is overspent by $100 or 10% (whichever is greater) or exceeds $10,000; an amendment would need to be filed and is subject to program approval prior to completing the Final Report (FR-1). FR-1 displays the last approved budget on file with GM. Enter true expenditures by budget line item. A signed copy is needed. 2 Massachusetts Department of Elementary and Secondary Education
Final Financial Report due dates Final reports are due to be submitted 60 days after the project ends. Grant Type - end date Final Report Due State / Trust Account grants - 6/30 end date August 31 Federal grants typically* 8/31 end date October 31 Federally funded multi-year grants Varies *Check the RFP posting for the end date of the grant 3 Massachusetts Department of Elementary and Secondary Education
Federally Funded multi-year grants end date is determined by multi-year filing Award Year Grant Programs End Date FR-1s due ESSA grants: Title I (Fund Code: 305), Title II-A (140), Title III (180 & 186), Title IV (309) 11/30/2022 or 60 days post final draw down, whichever comes first. 2020 9/30/2022 Funds cannot be obligated after 9/30/2022. ESSER I (Fund Code 113) 11/30/2022 or 60 days post final draw down, whichever comes first. 2020 or 2021 9/30/2022 Funds cannot be obligated after 9/30/2022. ESSA grants: Title I (Fund Code: 305), Title II-A (140), Title III (180 & 186), Title IV (309) 11/30/2022 or 60 days post final draw down, whichever comes first. 2021 9/30/2022 Funds cannot be obligated after 9/30/2022. IDEA: (Fund Codes: 240 & 262) Funds cannot be obligated after 9/30/2022 11/30/2022 or 60 days post final draw down, whichever comes first 2021 9/30/2022 11/30/2023 or 60 days post final draw down, whichever comes first. 2021 or 2022 ESSER II (Fund Code 115) 9/30/2023 *It is the expectation that all Applicants will fully obligate and expend the funds in the first 2 years of the award. Moving funds into Year 3 should be viewed as worst case scenario.
Federally Funded multi-year grants end date is determined by multi-year filing Award Year Grant Programs End Date FR-1s due ESSA grants: Title I (Fund Code: 305), Title II-A (140), Title III (180 & 186), Title IV (309) 11/30/2023 or 60 days post final draw down, whichever comes first. 2022 9/30/2023 11/30/2023 or 60 days post final draw down, whichever comes first. 2022 IDEA: (Fund Codes: 240 & 262) 9/30/2023 ARP IDEA grants: ARP IDEA (Fund Code 252) & ARP IDEA Early Childhood (Fund Code 264) 11/30/2023 or 60 days post final draw down, whichever comes first. 2022 9/30/2023 11/30/2024 or 60 days post final draw down, whichever comes first. 2022 ESSER III (Fund Code 119) 9/30/2024 10/31/2024 or 60 days post final draw down. 2022 ARP Homeless Children & Youth I (Fund Code 301) 8/31/2024 10/31/2024 or 60 days post final draw down. 2022 ARP Homeless Children & Youth II (Fund Code 302) 8/31/2024 8/31/2023 or 60 days post final draw down. 2022 Civics Teaching and Learning Grant (Fund Code 589) 6/30/2023 *It is the expectation that all Applicants will fully obligate and expend the funds in the first 2 years of the award. Moving funds into Year 3 should be viewed as worst case scenario.
Final Financial Reports (FR-1): Submit FR-1 in EdGrants oAvailable in the submissions menu after the end date of the grant oPlease do not file until all payments have been reconciled oPlease review the last budget submitted to determine if an amendment is needed prior to filing oAttachments List is where upload a signed PDF of the final report oGrants Management will continue to offer webinars in June and throughout the summer/fall 6 Massachusetts Department of Elementary and Secondary Education
Final Financial Reports (FR-1) Transitional Period FY2017 reports and earlier: oUse excel form template, sign and email PDF to EdGrants@mass.gov 7 Massachusetts Department of Elementary and Secondary Education
How to get help? 1. Call us at 781-338-6595 oIf urgent, or locked out of EdGrants always call! 2. Email edgrants@mass.gov 3. Grants Management will have documentation as to how to complete the Final Report. (To be posted, currently under development). (http://www.doe.mass.edu/grants/default.html) 8 Massachusetts Department of Elementary and Secondary Education
