The U.S. Department of Labor’s Employment and Training Administration (ETA) has released a Funding Opportunity Announcement for Financial System Risk Assessment aimed at ensuring grantees can responsibly manage public funds. This document outlines criteria for effective accounting systems, including the need for precise record-keeping, integration with internal controls, and up-to-date financial reporting.
The application process requires organizations to provide their legal name, founding date, principal officers, and financial details, including total revenues. Additionally, applicants must detail their existing accounting systems, addressing key questions around their adequacy, identification of funds, and internal controls.
Further, organizations must disclose any legal or financial concerns impacting grant management and provide evidence of independent CPA reviews of their financial statements. Finally, applicants are instructed to disclose information related to their usage of the Department of Health and Human Services Payment Management System.
This funding opportunity emphasizes the importance of fiscal responsibility and compliance, aligning with federal guidelines to secure effective grant management and accountability.
The Employment and Training Administration (ETA) of the U.S. Department of Labor released a Training and Employment Guidance Letter (TEGL) detailing the application process for FY 2024 Community Project Funding. This guidance outlines eligibility, submission requirements, and funding mechanisms for workforce development projects across the nation, highlighting the awarding of approximately $107.8 million for various initiatives following the Further Consolidated Appropriations Act signed by President Biden. Eligible applicants, as specified in an appendix, must submit comprehensive applications to Grants.gov between September 1, 2024, and January 31, 2025. The document emphasizes the need for projects to demonstrate alignment with Congress-approved descriptions, propose measurable outcomes, and maintain fiscal responsibility. It stipulates required documents for submission, such as budget forms, project narratives, and performance measures while detailing restrictions on funding use. Ensuring compliance with a range of federal requirements and potential pre-award costs is also addressed. Overall, the TEGL serves as a critical framework for organizations seeking federal assistance in enhancing employment training initiatives, underscoring the administration's commitment to building accessible workforce pathways.