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

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

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)

Which report is better?

Grants monthly report

Organization budget report

Query (JOURNAL_LINE_REF)

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

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

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

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)

Q & A