The Board Has Generally Effective Processes for Approving and Monitoring the Currency Budget’s Multicycle Projects but Can Better Document Those Processes

Develop new or modify existing MOU supplemental schedules to include a framework for multicycle project budgets with specific illustrative criteria describing which projects should be categorized as multicycle, as well as roles and responsibilities for
a. developing and approving the currency budget’s multicycle projects, including which costs may be conditionally approved and how to receive full approval.
b. reviewing to ensure multicycle projects’ quarterly funding requests are justified and subsequently advancing funds.
c. annually reconciling the prior year’s advances to expenses and adjusting future advances as appropriate.