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recognize the revenue and create a receivable.
c. FMS Grant Accounting is responsible for monitoring bank account
activity, and, when ACH deposits hit the appropriate bank account,
making entries (eRDDs) to reflect the sums received.
d. FMS Grant Accounting is responsible for reconciling receivables and
payments received.
11. Journal Entries:
a. The Administering Departments are responsible for making all grant-
related journal entries corresponding to a particular accounting period
(month) no later than the deadline specified in each month’s published
close schedule. Nothing herein shall prohibit FMS Grant Accounting
from identifying entries that need to be made and making them on behalf
of departments when necessary to ensure compliance with City policy,
grant requirements, or Generally Accepted Accounting Principles
(GAAP).
b. FMS Grant Accounting is responsible for reviewing and posting any
such journal entries.
c. For large journal entries better handled by uploading, the Administering
Department shall provide FMS Grant Accounting with the necessary
data and back-up, and FMS Grant Accounting will upload, review, and
post the journal entries.
d. FMS Grant Accounting is responsible for City fiscal year-end entries
such as accruals, adjusting entries, etc.
e. At the close of each grant, the Administering Department, with support
and assistance from FMS Grant Accounting, is responsible for ensuring
that all applicable revenues, expenditures, and transfers are reflected in
PeopleSoft.
12. FMS Grant Accounting will serve as the point of contact for the annual Single
Audit and coordinate and provide responses to the City’s external auditors.
13. FMS Grant Accounting will prepare the annual Schedule of Expenditures of
Federal Awards (SEFA) and Schedule of Expenditures of State Awards
(SESA), and will coordinate with the City’s external auditors to file the results
with the Federal Audit Clearinghouse (FAC).

E. Grant Closeout

1. After completion of all required performance period activities, the
Administering Department and FMS Grant Accounting shall perform grant
closeout tasks in accordance with §200.343 Closeout or corresponding State

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