Are funds (Federal and partners) obligated in a timely manner, spent for the intended purpose and accurately reported?
Explanation: Federal funds are obligated within the timeframes set out by ED schedules and used for the purposes intended. In FY 2006, ED made all non-competing continuation awards by the end of April, two months earlier than in past years. This improvement enables recipients more time to plan effectively and begin hiring processes. Further, to ensure that funds are properly managed, ED monitors grantees’ financial records using Grants and Administrative Payment System (GAPS) and quarterly reports from the Office of the Assistant Secretary for OPE to alert staff of any grantees’ excessive drawdown or inactivity of Federal funds. In addition, to ensure that funds are properly managed, ED has strengthened its financial management practices by implementing e-Monitoring. ED e-Monitoring is a new software tool that enables grant program staff to better monitor their grants and helps to prevent potential fraud, waste, and abuse. Evidence: Title III Performance Measurement System; annual spen
