ACTION ITEM:
For all grants (federal, state, and local) with revenue and/or expenses in fiscal year 2024, departments are now required to complete the attached year-end reporting form for each grant. Please send the completed forms to help.munis@deschutes.org by July 31, 2024.
The grant year-end reporting form is being implemented to increase the accuracy of the County’s year-end revenue recognition. This process is a response to comments received from our external auditors during the last two annual financial statement audits. The County has a very long history of clean financial statement audits. However, continued inaccuracies in revenue recognition could result in an audit finding (more impactful than a comment). Audit findings have the potential to increase the County’s future borrowing (debt issuance) costs and decrease our appeal as grant recipients.
In the past two fiscal years, the auditors identified two instances where the County recognized revenue earlier than we should have. The County received the cash up front but wasn’t anticipating spending the grant funding until future fiscal years (unearned revenue).
We value your cooperation and understanding in this matter. Should you have any questions or require assistance during this process, please do not hesitate to reach out to the Finance Department at help.munis@deschutes.org.
GRANT REMINDERS:
System for Award Management (SAM) has transitioned from DUNS to Unique Entity Identifiers (UEI) as the primary means of identifying entities registered for federal awards.
Please make sure you use the following identifiers when applying for any grants on behalf of the County.
DUNS: 030805147
UEI: SVJRCF7JN519
CAGE: 3YZA4
EIN: 93-6002292