(A) A "WIA Fiscal Agent" is an entity designated by the chief elected official in accordance with section 117(d)(3)(B)(i)(II) of WIA to assist in the administration of WIA grant funds under the direction of the local workforce investment board. The WIA fiscal agent shall receive and manage all formula WIA funds for the area and other federal, state, or local funds allocated to the local workforce area.
(B) The WIA fiscal agent is responsible for the receipt, disbursement, accounting and reporting of all funds related to WIA program operations including collection and disposition of program income generated by WIA program activities pursuant to federal regulations.
(1) Subaward notification and advances
WIA fiscal agents are responsible for notifying local WIA sub-areas of subgrant awards, the catalogue of federal domestic assistance (CFDA) number of the subgrant, and respective grant availability periods of the funding. WIA fiscal agents are also responsible for ensuring processes are in place to minimize the time elapsing between receipt of WIA funds and disbursement in order to maintain cash balance.
(b) WIA fiscal agents shall ensure processes are in place to approve draw requests from and issue funding to local sub-areas.
(c) WIA fiscal agents shall ensure processes are in place to amend budgets if necessary and shall communicate amendments to local sub-areas.
WIA fiscal agents are responsible for establishing the reporting practices to be utilized by WIA sub-areas. The fiscal agent combines all local area financial data, which includes the compilation of all sub-area financial data, and performs area-wide state reporting via county finance information system (CFIS) web as described in rule 5101:9-7-29 of the Administrative Code.
(a) The local WIA area shall ensure its sub-areas utilize a unified financial reporting system for recording financial activity, generating and reporting financial statements, cash draws, and participant information.
(b) Fiscal agents are required to allocate costs in accordance with rule 5101:9-7-20 of the Administrative Code. However, all WIA stand alone areas shall allocate their costs by the process contained in rule 5101:9-31-17 of the Administrative Code.
Reconciliation involves the comparison and process of correction of local area financial data which includes the compilation of all sub-area financial data related to budgets, draws, net zero vouchers, expenditures and ceiling excess and effort reporting.
(a) The WIA local area shall establish a written reconciliation process which includes reconciling expenditures, receipts, accruals and obligations between sub-areas and the fiscal agent.
(i) The WIA local areas are required to complete the reconciliation process each quarter.
(ii) The WIA local area shall review and update, if necessary, their reconciliation process on an annual basis.
(b) The WIA fiscal agent shall ensure that the combined disbursements, receipts, accruals, obligations and cash balance of sub-areas match those reported on the local area's quarterly certification submitted to the Ohio department of job and family services (ODJFS).
(c) The WIA fiscal agent shall review CFIS web reports and make adjustments and/or corrections prior to the final approval of the financial data for the last month of the quarter. The WIA fiscal agent has access to system reporting throughout the quarter and can make ongoing adjustments/corrections as necessary.
The WIA fiscal agent is responsible for overseeing and monitoring the WIA fiscal activities of their sub-areas, subrecipients and contractors.
(a) The WIA fiscal agent shall ensure expenditures are allocated against the appropriate cost categories and within cost limitations as specified in the WIA plan, state and federal statutes and regulations.
(b) The WIA fiscal agent shall communicate, in writing, to the local area and sub-areas all fiscal related audit findings including any appropriate corrective action steps necessary for compliance.
(c) The WIA fiscal agent shall provide technical assistance to local sub-areas regarding financial issues.
(C) The 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 the ODJFS office of fiscal and monitoring services (OFMS) and the Ohio auditor of state (AOS).