What if I am unable to complete the risk assessment required in the contract process?

We understand the risk assessment may be challenging for some grantees to complete. We recommend letting us know as soon as possible if you anticipate any barriers to completing the risk assessment. In this case, AMCHP will work with you to determine the best way to support your participation in the Replication Projects. This may involve being referred to small business financial training ahead of being awarded as well as AMCHP disbursing project funds in installments and requiring additional documentation/paperwork. Below are the three levels of financial risk and tentative monitoring plans.

Lower Risk

  • Review audit reports through and Federal Clearinghouse 
  • Review invoices to ensure: 
    • Timeliness, completeness and accuracy 
    • Milestones are representative of spending 
  • PI approval states “okay to pay” 
  •  Work is performed within the period of performance 

Moderate Risk

  • Review all steps in the “Lower Risk” category in addition to the following: 
  • If findings exist in the subrecipient’s audit report, determine how material they are and the risk(s) involved (operational, financial or compliance risks) 
  • Elevate potential risks to Grants & Contract team and Office of Finance and Accounting for discussion 
  • Request and monitor invoices more frequently (monthly vs. quarterly) 
  • Request and review financial reports more frequently (if possible) 

Higher Risk

  • Review all steps in the “Lower Risk” and “Moderate Risk” categories in addition to the following: 
    • Exercise your right to audit or consider performing a site visit or desk review 
    • Request supporting detail for all financial invoices and expenses 
    • Request regular contact and communication with the PI 
    • Document conversations and retain pertinent emails 
    • Withhold payments, if necessary