Non-Profit – Tips on Grant Management

[ad_1]

  1. Setup summary sheet for each concentration with reporting dates and other important date information. This list is updated for each new provision and is reviewed every week to make sure nothing falls through the cracks.
  2. Develop your own standard templates for each grant. Every write-up should look like with a few sentences about the purpose of strength and fields for dates, specific requirements and other compliance issues in detail, such as staff education requirements. Templates may be setup in a spreadsheet or database for easy access and reporting.
  3. Make sure your accounting system captures the income and expenses of each concentration. You may identify funding through the chart of accounts have ordered several numbers to certain grants or through “categories” or other method specific to software. You may also need to train your accounts receivable and pay staff to recognize the grant money coming in and out so they can code them properly. If things are not coded correctly, you will have a nightmarish time providing reports grantors and other interested parties.
  4. Develop a good filing system. Be sure to download and print all Omb circulars and other documents relating to authorize the Board, including notes on meetings and phone conversations. Keep them filed and accessible at all times. You can make a summary listing of all non-allowable expenses you are likely to have and maintain it well.
  5. Establish a budget for the organization based on the strength budgets. Every grant-funded project should have its own budget, which is recognized in the accounting life. Review reports for each project monthly to be analyze errors and monitor financial compliance.
  6. Review data for calendar items associated with the grants. It is easy to make mistakes in the journal entries and regular review can find and correct mistakes. All calendar items should have the right data to them clearly explain the purpose of entry and how the figures were derived.

[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *