Year End Replenishment
This fiscal year has come and gone so quickly, and we’ve all learned a lot about what works, and what doesn’t work with the NC Checking Account System. Although there are still several challenges ahead, I am confident that we can continue to progress and make this system a vast improvement over prior funding processes. As such, and in an effort to give NCs the most opportunity to spend down their funds this fiscal year, our final monthly automatic replenishment (for June) will be done a bit differently. Instead of the regular replenishment to $4,000 we will have different tiers of replenishment:
- For any NCs that are current (through March 2015) with their Monthly Expenditure Reports (MERs) or have two (2) or less outstanding reports, your checking accounts will be replenished with the full balance remaining in your appropriation accounts at the beginning of June.
- For any NCs that are missing three (3) or more MERs, but whose funds were not frozen in the last round of MER compliance checks, your accounts will be replenished with up to $10,000 at the beginning of June. If you need more funds, you can submit a cash request form to the Department, and we will process within 3-5 days (including bank transfer time ).
- If your NC’s funds are currently frozen for non-compliance with MER reporting requirements, please continue to work with your Treasure, Signer, C4C representative, your appointed temp accounting assistant, and the Department to get current. Once you are current, we will work with you to immediately unfreeze your account and provide you with full funds from your appropriation account.
For any NCs that are currently in either category 2 or 3 listed above, as soon as you submit your outstanding MERs, and the Department accepts your reports, we will process a cash request to fully fund your checking account with the remaining balance of your appropriation account (3-5 business days). Please keep in mind that all other deadlines stated in regards to the fiscal year end still apply.
May 15th – was the last day to submit Contracts and Leases (new and renewals)
June 17 and 18 – Funding Team will be available in regional offices (Valley, Harbor, South LA, West LA, and Central) to receive, and review your FRF submissions. Specific times and locations to be announced shortly.
June 22nd – Last day to submit Funding Request Forms (FRF) for Department Approval for: Neighborhood Purpose Grants (NPGs), Community Improvement Projects (CIPs), Any expenses over $2,500.00 (including Board Member reimbursements), Events, Election expenses. Your FRFs will be processed in the order received and we will attempt to complete within 3-5 days contingent on the number of requests received.
If your FRF requests come in after June 22, although we will not reject them, we cannot guarantee that you will get an authorization in time to issue payment and meet the June 30th deadline. Nonetheless, depending on the workload, we will always strive to assist you if at all possible and process your requests expeditiously.
June 30th – Last day to issue payments using 2014-2015 funds from your NC Checking Account. However, you must provide the Department with a listing of outstanding checks and payments processed on June 30th.
July 1 – Budget package due, and submitted online.