Federal Financial Drawdown
Federal Risk Level
The Federal Fiscal Monitoring Division conducts an annual risk assessment of all charters, to determine their potential risk of noncompliance. Based upon the outcome of the risk assessment, charters are assigned a risk level of low, medium, or high. The division updates the risk assessment model annually to ensure that risk indicators and weights reflect current risks. Your Charters risk assessment level can be viewed by accessing the GFFC Reports and Data Collections secure application, where you will find a letter for your organization.
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Who needs a user role?
All individuals reporting and certifying expenditures are required to have a TEA Login (TEAL) account and access to the ER application. If you do not have access to TEAL, you must request a user ID. Once your TEAL account is set up, you will log on to TEAL, select My Application Accounts, and follow the instructions to request access to the Expenditure Reporting application.
System Reports
System reports are a very important part of the federal draw down process. You will need the correct system report to verify that you are drawing down the correct information. These reports include the following
- General Ledger
- Expenditure Report
- Payroll Audit Spreadsheet
- Vendor Transaction
Indirect Cost
Do I apply for indirect cost for my charter and if I do apply, do I actually use the percentage rate that is assigned to me? This can be a difficult decision when planning spending amounts for your federal funds. The ideal intention would be to have all allowable expenses directed to fully benefit students, but indirect cost can be an allowable expense that provides a reimbursement to a charter for services that are provided, but do not directly benefit the student. This percentage draw does benefit the charter as a whole and can be a helpful tool to ensure that the federal fund is fully expended in the best interest of the student and the charter.
Things to Remember
- Make sure your NOGA/NOGA’s matches your systems budget
- Pay attention to the start date of your charters NOGA/NOGAs
- Make all changes before you certify your draw
- Upload are appropriate documentation if your charter is considered medium-high risk
- Certify the draws before the 10th business day
- Respond to narrative justification in a timely manner if requested
Have questions?
Contact us!
- Email CFO Jackie Hernandez: jhernandez@charterschoolsuccess.com
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