AmeriCorps - 20-01 - 24

Document and implement policies and procedures to include the following: (a) Establish a thorough and robust quality control process to ensure that the Trust Obligation and Liability Model (TOLM) and Monthly Obligation and Liability Calculator (Calculator) are reviewed by qualified CNCS personnel prior to relying on its outputs to record transactions. All errors identified for which management ultimately decided against making updates to the TOLM or Calculator should be documented along with an explanation as to how management arrived at the final decision; (b) Perform monthly reviews and reconciliations of the recorded new and outstanding obligations to ensure the accounting information is valid and proper; (c) Review obligation amounts to ensure amounts accurately reflect the status of the obligation; (d) Review obligations to verify that amounts, timeframe (i.e., grant dates are correctly reflected in the obligation); (e) Ensure obligations are sufficiently supported (i.e., by documentary evidence); and (f) Perform complete reconciliations of all outstanding obligations monthly, and ensure any discrepancies identified are promptly researched and resolved.