Ohio Administrative Code
Title 5101:9 - ODJFS Practices
Chapter 5101:9-7 - Costs and Financial Reporting and Reimbursement
Section 5101:9-7-04 - Workforce Innovation and Opportunity Act (WIOA) local area financing and cash management
Current through all regulations passed and filed through March 18, 2024
The following accounting procedures are necessary for local accountability in the financing and cash management of federal and state funds.
(A) Financing.
The total cash payments to the WIOA local area are disbursed weekly to the area's designated fiscal agent, upon receipt of the draw request for funds. Each WIOA local area and subrecipients of the WIOA local area shall establish and maintain a workforce development fund to be used for all deposits and disbursements of funds for all WIOA activities. Available funds are limited by state appropriation and federal award. All payments are issued via electronic funds transfer (EFT) to the fiscal agent.
(B) Cash management.
When a WIOA local area is funded on a reimbursement basis, program costs are paid with local funds before reimbursement is requested. When funds are drawn in advance, the WIOA local area shall follow procedures to minimize the time elapsing between the transfer of funds from the state and local disbursement. Disbursements to a WIOA local area administering federal programs shall cover allowable expenditures consistent with federal and state regulations.
(C) Quarterly cash on hand calculation.
(D) Quarterly interest liability/program income.
An interest liability accrues if federal funds are received prior to the day the funds are paid. In accordance with 2 C.F.R. 200.305(b)(9), up to five hundred dollars per year of interest earned may be retained by the WIOA local area for administrative purposes. Any additional interest earned on WIOA funds must be treated as program income and must be used before the WIOA local area requests additional WIOA draws. Reported earned interest must be expended before the end of the quarter in which it was received. A WIOA local area shall calculate, and report earned interest as a receipt in accordance with this rule. Earned interest can only be used for the intended program and shall be held in the local account.
(E) WIOA local area accruals and liquidations of accruals.
As expenditures are incurred, they become accrued expenses and shall be reported as accruals. At the time the accrual is liquidated (disbursed), the WIOA local area may draw down funds and shall report the disbursement of the accrual as expenditure for that quarter. All accruals shall be liquidated by the end of the period of availability.
(F) The WIOA local area shall maintain documentation in accordance with the records retention requirements in rule 5101:9-9-21 of the Administrative Code. This documentation may be subject to inspection, monitoring, and audit by ODJFS and the Ohio auditor of state.