FINANCIAL MONITORING SYSTEMS ASSURANCE SECTION

The Financial Management Systems Assurance Section (FMSAS) is responsible for various monitoring and compliance activities for cost allocation plans, financial monitoring and contract monitoring for AWl subrecipients.  Other related activities include providing technical assistance and training to the subrecipients and performing research for AWl management, Workforce Florida, Inc., the Office of Early Learning or other responsible parties as needed.

Financial Monitoring - The FMSAS staff provides assistance with the development, implementation and maintenance of annual monitoring plans for regional workforce boards (RWBs), early learning coalitions (ELCs), contracted subrecipients and other pass-through entities as identified by AWl management.  These financial monitoring tasks include the procurement, execution and oversight of the monitoring services contracts with outside CPA firms.  Other annual tasks include, but may not be limited to, approval of all financial monitoring procedures performed; follow-up on all prior year financial monitoring findings; review of annual audit reports; summarizing current year financial monitoring findings; notice to subrecipients of monitoring findings; receipt of resulting corrective action plans; analysis of all corrective action plans to ensure timely review, revisions (as needed) and final approval; and preparation of periodic progress reports as requested or needed by management.

Cost Allocation Plan  - The FMSAS staff provides assistance with AWl's statewide guidance and established procedures for the development and submission of cost allocation plans for the Agency's subrecipients (RWBs, ELCs and others). This unit also reviews and approves the cost allocation plans submitted for AWl subrecipients to ensure all plans adequately identify/assign costs to cost objectives and comply with cost limitations and specific programmatic reporting requirements in accordance with State and Federal laws.

Contract Monitoring - AWl is charged by state and federal regulations and sound business practices with oversight of the funds it expends for contracted services. The FMSAS staff perform activities related to the development, implementation and maintenance of annual financial monitoring plans for pass-through entities and contracted vendors of AWl. Other annual tasks include, but may not be limited to, approval of all financial monitoring procedures performed; follow-up on all prior year financial monitoring findings; review of annual audit reports; summarizing current year financial monitoring findings; notice to subrecipients of monitoring findings; receipt of resulting corrective action plans; analysis of all corrective action plans to ensure timely review, revisions (as needed) and final approval; and preparation of periodic progress reports as requested or needed by management.