How to Monitor Your Grant Without Using Tylenol to Numb the Pain Resource Development and Legislative Affairs Department Marina Kibardina Nick Kallieris.

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Presentation transcript:

How to Monitor Your Grant Without Using Tylenol to Numb the Pain Resource Development and Legislative Affairs Department Marina Kibardina Nick Kallieris Harriet Seltzer Nina Smith

Youve got the grant… now what? you need to know: where to get all the necessary info about the grant how to monitor grants 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 grants agreement Verify the data with the Resource Development & Legislative Affairs and Business Office Submit the report on time as indicated in the grants agreement If it is submitted without your involvement, request a copy for your records

How to prepare for the audit Determine whether youre 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