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How to Monitor Your Grant Without Using Tylenol
to Numb the Pain
Resource Development and Legislative Affairs Department
Marina Kibardina Nick KallierisHarriet Seltzer Nina Smith
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You’ve got the grant…now what?
you need to know:
where to get all the necessary info about the grant
how to monitor grant’s expenditures and revenues
which paperwork to use and when
how to report to the funding agency
how to prepare for the audit
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Grant Agreement as a “Scripture”
Typical grant agreement includes:
the amount of award goals and objectives term of the grant budget guidelines info about funding (revenue recognition)
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Which report is better?
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Grants monthly report
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Organization budget report
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Query (JOURNAL_LINE_REF)
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Which form to fill out and when
Resource Dev. & Legislative Affairs
Budget setup Budget
modifications Journal entry
requests
Business Office
Requisition Purchase orders Travel forms Payment
requests
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How to report to your funding agency
Review your grant’s agreement Verify the data with the Resource
Development & Legislative Affairs and Business Office
Submit the report on time as indicated in the grant’s agreement
If it is submitted without your involvement, request a copy for your records
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How to prepare for the audit
Determine whether you’re even required to have an audit for your grant
if yes, then
- review and update your records before submitting them to the auditors (through RD &LA Dept)
- do not submit more than requested - keep a copy of submitted docs with the date
of submission
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Important issues to keep in mind
Time & Effort reports
Compliance (Circular A-21)
Program related expenditures (should be incurred to meet the objectives and reach the goals of the grant/program)
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Q & A