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Financial Management of Grant Funds Rotary Foundation. To familiarize Rotarians with the expectations and requirements of the donors and to assist clubs to achieve compliance with expectations and requirements. Objectives.

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To familiarize Rotarians with the expectations and requirements of the donors and to assist clubs to achieve compliance with expectations and requirements.


donor s expectations

Assurance that donated funds are spent effectively and for the intended purpose of the grant.

Encourage donors to continue giving to Rotary.

Donor’s Expectations

donor s concerns

Supervision of projects by Non-Rotarians (Rotarians provide assurances of Honesty, Integrity, Leadership, Capacity and completion of projects)

Mismanagement of funds

Lack of participation by Rotarians

Lack of project sustainability beyond grant funds (Rotarians provide Leadership, Business Acumen, and success to project)

Donor’s Concerns


Notify the Foundation of any irregularities or change in the purpose or conditions of the grant.

Seek written authorization before any change is implemented

The Foundation will investigate any irregularity or material change noted in the reports



Failure to comply with the requirements of the grants and or the Foundation could result in:

Demand of funds to be returned

Demand the mismanaged portion to be returned

Suspension of the Club from receiving grants up to 5 years

Destroying the Goodwill of the community, the reputation of the club and its members to effectively manage grant funds


responsibilities of rotary clubs

Effective Management of Project Funds

Misuse of funds

Poor or improper investment of funds

Assure Rotarian capacity and leadership



If project is to be implemented by a third party, provide to the Rotary Club assurances of its capacity to implement the project successfully. Project funds remains in the custody of Rotarians.

Responsibilities Of Rotary Clubs

organize project implementation

Establish/Select an Implementation Committee of Rotarians (Rotarians provide assurance and guarantee of success)

Set clearly the grant goals/purpose

Set milestone/post to monitor implementation

Set guidelines for



Accounting Records


Organize Project Implementation

set guidelines for completion of project changes delays trouble shooting set clear responsibilities
Set guidelines for completion of project



Trouble Shooting

Set clear responsibilities

Organize Project Implementation

organize project implementation1

Manage the project according to

Best business practice

The Four Way Test

Best Accounting Practices

To demonstrate transparency, no conflict of interest

To assure compliance with grant purpose and conditions.

To provide adequate evidence of compliance

To provide timely, meaningful reports of the project and management of funds.

Organize Project Implementation

best business practice

Bank accounts should be

Authorized by the club

Clearly identify club and project

All payments made by cheques

Cheque require the signature of 2 Rotarians (involved in project)

Bank accounts should be reconciled monthly. Retained.

Ledgers, Journals or Program should be open

Best Business Practice

best business practice1


Bids should be obtained for major purchases (min. 3)

Bids should be presented to the project committee

Minutes of meeting should at minimum detail

Compliance of Bids to request as to quality, price, time & service

Selection and award to successful bidder

Authorization of purchase

Best Business Practice

best business practice2

Receipt of Goods/Service

Issue properly authorized Purchase Order

Upon receipt of Good/Service – Proof of

Verification and certification of good/service

Purchase Order – quality, quantity and price

Proper authorization for payment


Best Business Practice

best business practice3


Present payment request with the following attachments.

Project Committee Approval

Purchase Order

Proof of receipt

Proof of verification and certification


2 Rotarians must sign cheque

Obtain receipt of payment and make copies of all attachments for

Project Report

Club Report

Foundation Report


Record disbursement in Journal/Ledger/computer

Record receipt of donation. Make needed copies

Best Business Practice

best business practice4

Prepare Monthly Reports

Accounting Reports

Attach receipts, disbursements, etc.

Project Progress Report compared to mile post/goals of implementation

Note exceptions and problems

Provide explanations

If needed seek guidance and help

(Rotary and Rotarian reputation are at stake)

Best Business Practice

best business practice5

Prepare Completion Report

Within 2 months of completion

If project is beyond 1 year, reports should be prepared at a minimum of 12 months intervals

Best Business Practice

best business practice6

Retain records for Projects for 5 years

Smile, you have provided adequate evidence to assure the Donors, the Foundation, the Club, the Rotarians and the Community that all project funds were

Managed effectively

Utilized to achieve the purpose of the grant

Best Business Practice