The document summarizes a boot camp for Small Business Development Center (SBDC) directors to review financial procedures and prepare for the upcoming year. It covers reviewing the previous year's invoices and performance, financial examinations, funding sources, time and effort reporting, and drills on budget revisions and quarterly reimbursements. The boot camp aims to ensure compliance with accounting rules and help directors properly manage finances and complete required paperwork for reimbursements and reporting.

2. 2016 LSBDC Center
Director’s Conference
BOOT CAMP for Center Director’s

3. Contents
• Purpose
• Review of Previous Year
• Financial Examinations
• Funding Sources
• Time & Effort Reporting
• Drills
• More Drills
• Even More Drills
• Award Ceremony
• Questions & Answers

4. Purpose
• The purpose of this presentation is to:
• Review proper procedures
• Answer frequently asked questions
• Prepare you for 2017

5. Review of Previous Year
• Invoices Due
• Draft – October 31
• Final – November 15th
• Print out from your host university
accounting system that matches the
invoice.

6. Review from Previous Year (cont)
• We were headed into 2016 with smooth
sailing!

7. 2016 Retrospective
Let’s take a look back on how well we did…

8. Overview - SBDC Financial
Management
• Compliance with Required Accounting
Documentation
• What Rules Do SBDC’s Have to Follow?
• Program Announcement
• Notice of Award
• CFR / Circulars
• http://www.ecfr.gov/cgi-bin/text-idx?tpl=/ecfrbrowse/Title02/2cfr200_main_02.tpl
• Your Host
• Frequent errors
• Failures to seek prior authorization when
required (PSA, Equipment, Leases)
• Incomplete quarterly invoices
• Paying Late Fees

9. Financial Examinations
• The Risk Assessment is also known as the
Financial Questionnaire
• Conducted between October and November
• Questionnaire - you fill in, telling us about
your network and your host organization
• Your results are reviewed by the LSBDC
Financial Manager
• Once reviewed, the Financial Manager will
reach out to each center director and
schedule a date to perform your financial
examination.

10. The Exam Process

11. Funding Sources
• Federal Funds
• Matching Funds
• Program Income
• These funds are all program funds.

12. Drills
Welcome to Boot Camp for 2017

13. Drills
• Drills will cover procedures for the
following:
• Allowable Vs. Unallowable
• Program Income
• Time & Effort Reporting
• Budget Revisions
• Reimbursement Requests
• Mid-year Financial Reporting
• Year-end Financial Reporting

14. Allowable Vs. Unallowable

15. Allowable Vs. Unallowable

16. Program Income
• Program Income means gross income earned
by the recipient that is directly generated by a
supported activity or earned as a result of the
award ~ 2 CFR 200.80
• “Program Income must be used to further the
objective of the SBDC Program and cannot be
used for other purposes.” ~ SBA Program
Announcement
• Each quarter’s invoice for program income
generated should match Center IC

17. Program Income

18. Program Income

19. Program Income

20. Program Income

21. Time & Effort Reporting
• What is Effort?
• Total effort is defined as whatever
amount of time a person devotes to
fulfilling his/her responsibilities.

22. Question/Answer Drills

23. Budget Revision Drill
Question: When requesting for a budget
revision – what must be included in every
request?

24. Budget Revision Drill
Answer: These are required for EVERY
budget revision request
• Budget revision spreadsheet indicating
which line items have changed
• Narrative describing need for revision

25. Quarterly Reimbursement Drills

26. Reimbursement Drills
Question: What must be included and
performed with every invoice for each
quarter?

27. Reimbursement Drills
Answer:
• LSBDC Approved Invoice Form
• Reconciled by the Center Director
• Print out of your host university’s
accounting system that matches the
invoice.
• Remaining Balance for Program Income
• Allocation of Expenses for that quarter on
the invoice for Program Income

28. Reimbursement Procedure –
Rejecting Invoices
• Invoices with errors will simply be rejected.
• The rejection email notice will be sent to
the email address of the Center Director
along with the Associate State Director
and State Director
• The rejection email notice will explain the
corrections needed.

29. Invoice Reimbursement
Procedure – Rejecting Invoices
• If you have any questions about the
rejection, you may contact your Financial
Manager for clarification.
• This will allow us to provide you with a
more prompt response to let you know
there are issues. The rejection email
notice will formally let you know that the
center’s reimbursement is on hold.
Resubmit the corrected invoice.
• Errors - IDC calculation
• Errors - Allocation of equipment

30. Financial Reporting Drills
Just getting warmed up!

31. Financial Reporting Review
Don’t misfire! Simple steps to follow each
time.

32. Potpourri Drill
Question:
Do any of the numbers on your quarterly
invoices have to match actual expenses for
the 4th quarter final invoice?

33. Potpourri Drills
Dean Winchester from Supernatural says…

34. Potpourri Drills
Ariel the Little Mermaid, what say you?

35. Potpourri Drills
Jack Hodgins from Bones, what does your
forensic examination say?

36. Potpourri Drills
Commander Data?

37. Our Hearts Will Go On
Don’t worry, there is still hope for 2017!
LSBDC shall not let go.

38. How LSBDC Can Help…
• LSBDC Staff is always available by email
and phone.
• LSBDC provides tools to assist the Center
Director’s with compliance.

39. How LSBDC Can Help…
• LSBDC maintains all currently relevant
training on the internet:
Online Policy and Procedures Manual
• LSBDC is now providing a Monthly
newsletter

40. Congratulations Graduates!!!!

41. Before Your 2017 Deployment…
Do you have any…
QUESTIONS?