Fiscal Oversight Committee

Meeting Schedule:

Held the 2nd Tuesday of every month at the Council offices, 11:30 to Noon

Meetings for 2007:

    May 8, 2007
    June 12, 2007
    July 9, 2007
    August 14, 2007
    September 11, 2007
    October 9, 2007
    November 13, 2007
    December 11, 2007


Members:

Chris Luby - Chairperson
Betty Henderson
Corry Robinson

Fiscal Oversight Committee Minutes:

December 12, 2007

Minutes – prepared by Mackenzie Helton

Members Present – Mackenzie Helton, Chris Luby (by phone)

Members Absent – Corry Robinson, Ben Sutton, Betty Henderson

The meeting time had been changed so Chris Luby was on the phone and Mackenzie was in attendance.

Ben Sutton had indicated he would attend and be responsible for his transportation.  He arrived at the Council offices after the meeting had ended.

Chris Herron was not aware the meeting time had been moved up to 1:30 from the regular time of 2:00 p.m. and she also arrived after the meeting had ended.  Chris is a new Council Member and has indicated that the Fiscal Committee is one that she is considering.

Here is the agenda that Chris prepared and forwarded to the Committee on Tuesday morning:

1.                   Call to order

2.                   Introductions

3.                   Latest Fiscal Update

4.                   Do we need anything for the January full Council Meeting?

5.                   Other business

6.                   Adjourn at 2:00 p.m.

Chris asked Mackenzie to be responsible for sending out meeting reminders and tracking who would be coming to the future meetings.  Also, Mackenzie will send the minutes out after the meetings.

Chris will be responsible for the Agenda and will distribute it ( e-mail ) the week before the meeting.

April 9, 2007

Current activities:

Mackenzie Helton, the Council's fiscal manager, sent committee members drafts of statements the committee can use to inform the Council of the status of the Council's budget and granted projects.  The committee will decide if the format is helpful and easily understood.  The FFY2007 grant is being entered in to the budget the council approved in September 2006, and will be presented to the Council at its May meeting.

I.            Purpose of the Committee

            The purpose of the Fiscal Oversight Committee is to do the following:

1.            Participate in overseeing the fiscal management and reporting by the Colorado Developmental Disabilities (D.D.) Council. 

2.            Receive monthly reports from the Council’s Fiscal Manager that show the current status of each open Federal grant, including information about any obligation or spending deadlines connected with each open grant.

3.            Become familiar with the Council’s Federal spending and fiscal reporting requirements, using materials available from the Administration on Developmental Disabilities (ADD), from the National Association of Councils on Developmental Disabilities (NACDD), and from the Colorado D.D. Council.

II.            Purpose of This Document

The purpose of this document is to do the following

1.            Outline the processes that the Fiscal Oversight Committee will use to perform its duties.

2.            Describe how the Fiscal Oversight Committee plans to manage fiscal and/or budgetary changes, in coordination with the full Colorado D.D. Council.

III.            Implementation

A.  The following policies and procedures, in combination with State fiscal rules, State travel rules, and State personnel rules, are intended to direct all Council members and staff regarding the fiscal operations and reporting of the Colorado D.D. Council

1.            The Colorado D.D. Council shall establish a committee whose sole purpose shall be to receive monthly fiscal status reports from the Council’s Fiscal Manager and to agree on any actions needed as a result of such reports.

2.            The Fiscal Oversight Committee shall receive additional reports whenever a fiscal issue merits reporting outside the established monthly cycle.

3.            The Fiscal Oversight Committee shall do the following:

(a)  Become familiar with the Federal grant process as it applies to the Colorado D.D. Council, including Federal three-year grant timelines.

(b)  Understand how the State fiscal year interacts with the Federal fiscal year.

(c)  Understand the 70%/30% split requirements regarding Council expenditures, in which at least 70% of Council expenditures must be for activities directly related to the Council’s Five-Year Plan and no more than 30% of expenditures may be for administrative activities.

(d)  Develop a protocol for overseeing the status of all open Federal grants (annual grants made from the Federal Administration on Developmental Disabilities to the Colorado D.D. Council).

(e)  Develop a protocol to ensure that Federal obligation and spending deadlines are met for each open Federal grant.

(f)  Provide fiscal reports to the Council on a quarterly basis.