Description

Join finance and grants expert Carol Kraus for a four part virtual series on financial management and covering a range of topics relevant to CAC leadership and grant management.  Attend this second training session on cost principles including distinguishing between direct and indirect costs, understanding the allowability of costs with emphasis on timekeeping requirements, budgetary controls, budget preparation, prior written approvals, budget narratives, and monitoring budget to actual expenditures.

Speaker Information: Carol A. Kraus, CPA, CGMS, is a seasoned professional with a background in public accounting and extensive experience in state government. As a licensed CPA and Certified Grant Management Specialist, she has specialized in financial and fraud audits, particularly within state, local government, universities, and nonprofit sectors since the early nineties. Throughout her career, Kraus has held various influential positions in state government, including Director of Internal Auditor for the Illinois Office of the Comptroller, Associate Director of the Governor’s Office of Management and Budget, and Chief Financial Officer for the Illinois Department of Human Services (DHS). Notably, during her tenure at DHS, Kraus played a pivotal role in the successful implementation of the Management Improvement Initiative Committee, which led to the passage of the Grant Accountability and Transparency Act (GATA), a landmark legislation aimed at streamlining grant administration statewide. Her leadership continued as she directed the Grant Accountability and Transparency Unit, overseeing the implementation of GATA and realizing significant annual savings and efficiency gains for the state. Since retiring from government service in 2020, Kraus has been dedicated to providing federal grant management training and consultancy services, aiding other states and large federal grant recipients in optimizing grant fiscal and administrative processes.