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How to Monitor Your Grant Without Using Tylenol to Numb the Pain

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. You’ve got the grant… now what?. you need to know:

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How to Monitor Your Grant Without Using Tylenol to Numb the Pain

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  1. 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

  2. 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

  3. 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)

  4. Which report is better?

  5. Grants monthly report

  6. Organization budget report

  7. Query (JOURNAL_LINE_REF)

  8. Resource Dev. & Legislative Affairs Budget setup Budget modifications Journal entry requests Business Office Requisition Purchase orders Travel forms Payment requests Which form to fill out and when

  9. 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

  10. 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

  11. 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)

  12. Q & A

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