The US Department of Labor requires the Department of Workforce Development and its sub-grantees to report on an accrual accounting basis.
Accrued expenses are reported monthly on the FSR. The monthly FSR is due at the end of the following reporting month (ex: May FSR due at the end of June).
Federal Unliquidated Obligations
Report the amount of all obligations incurred, for which an expenditure has not been recorded. This includes the unexpended portion of awards to sub-grantees and contractors. The net increase or decrease of unliquidated obligations for the reporting month is reported. Note that when a subcontract is issued, the total amount must be reported for the month that is is put in place. As expenditures occur against the obligations(s), the unliquidated obligation(s) amounts should decrease accordingly.
On the final Financial Status Report this lines must be zero. There cannot be a total accumulated unliquidated obligation balance of less than zero at any time.
Program Income Revenue
Report all program income revenue associated with WIOA administration and program codes. This is income received by the grantee or sub-grantee directly generated by a grant-supported activity, or earned only as a result of the grant agreement during the grant period.
Examples include fee for servies, user or rental fees, or sale of products.
Program income is to be expended in conformance with the terms and conditions of the grant.
On the monthly and the final Financial Status Report program income revenues and program expenditures must be equal.
Program Income Expense
Report all income expense associated with the WIOA program codes.
All program income expense should be funded by program income revenue received.
On the monthly and final Financial Status Report program income revenues and program expenditures must be equal.