Templates | Monitoring and Submonitoring-Subrecipient Monitoring Sample Risk Assessment Tool

Subrecipient Monitoring Sample Risk Assessment Tool

Pdf Summary

The document provides a sample Subrecipient Monitoring Risk Assessment Tool designed to evaluate and manage risks associated with grant subrecipients. Risk factors are assigned weights based on their importance, and a composite risk score is calculated to develop an appropriate monitoring plan.<br /><br />The tool includes 14 risk factors such as subrecipient type, whether the subrecipient is new, award amount, availability of matching funds, number of budget adjustments requested, timeliness of financial and progress reports, results of independent single audits, single audit opinions, presence of program income and equipment expenditures, conference costs, timing of the last on-site review, and participation in grant training. Each factor is assigned a risk score with corresponding weighted scores, reflecting varying levels of risk.<br /><br />For example, subrecipient types like non-profits or educational units are given higher risk scores than municipalities; new subrecipients and those with higher award amounts or lack of matching funds receive elevated risk scores. Untimely financial or progress reports and adverse audit findings increase risk ratings. Absence of recent monitoring visits or lack of grant training also contributes to higher risk. The tool also includes a pre-award risk rating categorized as high, medium, or low.<br /><br />The composite risk score, derived from the weighted scores of all factors, guides the pass-through entity in tailoring a monitoring plan to address identified concerns. The document emphasizes that this tool is a sample and not exhaustive. Entities should customize their risk assessment methods based on specific grant programs, scope, geographical factors, and other relevant considerations to effectively manage subrecipient risk.

Keywords

Subrecipient Monitoring

Risk Assessment Tool

Grant Management

Risk Factors

Composite Risk Score

Financial Reporting

Audit Findings

Monitoring Plan

Risk Scoring

Grant Training