C-FACTS served as the financial lead for ICF’s State of New Jersey’s OneCPD technical assistance team. Under this engagement, we established the financial management infrastructure for the administration of a $2 billion CDBG Disaster Recovery program. State of NJ finance staff were intimidated by managing such a large sum of federal funds with limited CDBG-DR knowledge. Our consultants helped the grantee modify their existing processes and procedures to accommodate CDBG-DR spending. Existing accounting policies and procedures were revised to integrate use of CDBG-DR funds.
The most daunting task was to identify the number of staff needed to handling literally thousands of DR financial transactions including home owner grants, small business assistance, and payments to municipalities for infrastructure repairs. We designed process maps to ensure payments could be reviewed for accuracy and eligibility and processed in a timely manner. Working with the technology team, we created methods to review and approve documents electronically, established “early and often” monitoring schedules to ensure CDBG-DR compliance and worked with the State Treasurer to process payments expeditiously. The process mapping included time estimates for each step that led to proper staffing analysis to perform accounting tasks.