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Spring 2018
Upcoming Monitoring
Monitoring season is upon us in the Grants Unit. Before the end of our fiscal year (June 30, 2018) we will be monitoring your projects either through a desk or site visit. As a reminder, all projects over $250,000 require annual monitoring, and all projects over $50,000 require monitoring once during the lifetime of the grant. Your Grants Specialist (Jason, Karen, or Mandy) will be contacting you to set up a time that is convenient for you in the near future. Thank you in advance for your cooperation!
Incurring Costs
As you’re setting up contracts and plans in anticipation of new grant agreements on July 1, please remember that we can’t reimburse you for costs incurred before July 1 on ML 19 projects. You can bid out subcontracts, but we won’t reimburse for any work done before the grant start date. Likewise, purchase agreements you enter into and appraisals you order before July 1 are valid, but we can’t reimburse you for the cost of the appraisal. This is the case even if you don’t receive or pay an invoice on the work until after July 1. Please contact your grant specialist if you have questions.
Mileage
The 2018 IRS mileage amount eligible for reimbursement is .0545. This is up from .0535 in 2017.
Pre-Award Financial Review
NGO's with new appropriations in FY19 will need a financial review as part of the Office of Grants Management policy 08-06. Your Grants Specialist will complete this review as part of your upcoming monitoring if necessary, and will ask for the IRS Form 990 or certified financial audit.
Certified financial audit
A certified financial audit is a review of an organization’s financial statements, fiscal policies and control procedures by an independent third party to determine if the statements fairly represent the organization’s financial position and if organizational procedures are in accordance with Generally Accepted Accounting Principles (GAAP). Minnesota nonprofit organizations are required to have a certified financial audit completed for any fiscal year in which they have total revenue of more than $750,000.
IRS Form 990
An IRS Form 990 is a federal tax return for nonprofit organizations. Nonprofit organizations that are recognized as exempt from Federal income tax must file a Form 990 or Form 990 EZ if it has averaged more than $50,000 in annual gross receipts over the past three tax years.
4th Quarter Reminders
- For those ENRTF and OHF recipients who have a project expiring on June 30, 2018, please keep in mind we cannot reimburse the final payment until LSOHC and/or LCCMR approves the final report.
- Our office will be closed on Monday, May 28 for Memorial Day
Prevailing Wage
If you are contracting for a construction project over $25,000, that project is subject to prevailing wage regulations. You should make sure your bidders address this in their bid response. If you have questions about whether prevailing wage applies to your project, contact the Department of Labor & Industry at 651-284-5091 , or dli-prevwage@state.mn.us
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