Fiscal year-end reminders: Project cash requests and budget revisions

5/31/2022

The state fiscal year ends June 30. To prepare districts and other entities receiving grant funds, the Department offers the following reminders related to project cash requests and budget revisions.

The state’s accounting system will stop processing payments in mid-June for fiscal year-end closing procedures. Therefore, the Department will adjust its timetable for approving project cash requests. To ensure prompt payment, grantees must submit project cash requests to the Department’s Office of Grants Management by June 14 at 5 p.m. Grantees can request funds to cover allowable expenses already incurred, as well as advance funds to cover expenses that will be paid June 1 through July 15, 2022.

As grantees send final budget revisions for approval, it’s important to remember grantees should only obligate a fiscal year’s funds to meet a bona fide need arising in the fiscal year for which the award was made. Therefore, when approving budgets, keep in mind the Department recommends that grantees incur obligations in sufficient time to receive goods and services and provide a benefit during the award’s period of performance. Review the guidance “Factors Affecting Allowability of Costs” for additional information. The last day to submit budget revisions normally is June 30. Additionally, program offices should review grantee application statuses and strive to have them in a final approved status by June 30. Grantees cannot start their Final Expenditure Reports until the applications are final approved. 

Find complete details about fiscal year-end project cash requests and budget revisions in the May Treasurer’s Newsletter. Contact grants.management@education.ohio.gov with questions.