District 7610 Rotary Foundation Seminar Grants Management PDG

District 7610 Rotary Foundation Seminar Grants Management PDG Travis White District 7610 Rotary Foundation Stewardship Committee Grants Management Slide 1

Purpose • Understand how to manage a Rotary Foundation grant • Learn stewardship expectations – Responsible financial management – Corresponding accounting practices • MOU implementation and compliance Grants Management Slide 2

Grant Planning and Application • Not our focus in this session • Global Grants – Breakout this AM – Andrew Wade, Global Grants Chair • District Grants – Concurrent breakout – Joe Akkara, District Grants Chair Grants Management Slide 3

Grant Management Grants Management Slide 4

Grant Management Ensures that projects: • Have proper financial control • Adhere to technical standards • Meet the needs of the beneficiaries • Fulfill their objectives • Safeguard funds Grants Management Slide 5

Successful Grant Projects • Meet community needs • Include frequent partner communication • Have implementation plan • Are sustainable • Maintain proper stewardship of funds Grants Management Slide 6

Stewardship • Stewardship is the responsible management and oversight of grant funds, including: – Rotarian supervision – Financial records review – Oversight of funds – Reporting irregularities – Timely submission of reports Grants Management Slide 7

Qualification Requirements To be eligible to receive Rotary Foundation funds, clubs must: • Attend a grant management seminar • Agree to club memorandum of understanding and submit signed MOU to district Grants Management Slide 8

Terms of Qualification • Valid for one year • Club responsibility for grant funds • Disclose conflicts of interest • Cooperate with all audits • Use grant funds properly • Implement the club MOU Grants Management Slide 9

Oversight and Reporting • Best practices for managing funds and record keeping • Which documents need to be retained • Reporting requirements Grants Management Slide 10

Responsible financial management • How do we make sure grant funds are used as effectively and efficiently as possible? • Using Standard Business Practices to • Make informed purchasing decisions • Conduct financial transactions in a transparent, traceable manner • Maintain complete records of all financial activity Grants Management Slide 11

Financial Management Plan • Bank account for funds • Distributing funds • Use checks/bank cards to track funds • Detailed ledger • Include local laws • Document retention • Transfer of custody Grants Management Slide 12

Bank account requirements • Project account requirements • Minimum of two Rotarian signatories • Low or non-interest bearing • Separate account for each grant project, clearly identified • Bank statements • Account activity • Funds withdrawn to make direct payments • Excess returned or seek approval

Use of Grant Funds: Purchases • Cost-effective purchases of goods or services • Bidding process or request for proposals needed to make informed purchasing decisions • Vendor selection and price point clear to district/TRF staff Tip: If prices changed during the implementation stage (differ significantly from approved budget), contact your grant officer and receive approval for the change in prices or quantity

Use of Grant Funds: Payments • Invoices must be received for goods/services Tip: Do not make payments until you have received an invoice • Payments should be made directly to vendors Tip: If purchase has been made by another party, such as a cooperating organization, invoice must be received before payment/reimbursement is made • Payments should be made by check Tip: When cash payments are necessary, use a receipt book to record the expense at local markets and ask the vendors to sign the receipt • Event of misuse

Ledger of Payment Activity Ledger should include (at a minimum): • Date of transaction • Check number • Payee • Amount • Purpose of transaction • Signature of reviewer

Document Retention • Retain for a minimum of five years • Documents that should be filed systematically and cross-referenced in a ledger: – Invoices/receipts – Bank statements – Inventory list • Provide access • Make copies Grants Management Slide 17

Reporting – District Grants • Status mid year • Final on project completion: • Narrative statement with project outcomes clearly defined. • Information regarding the impact of the projects on the beneficiaries. • Full description of Rotarian oversight, management and involvement in the project. • Statement of income and expense (receipts/bank statements). • Detailed narrative describing the implementation of the projects and how experiences gained will inform/guide the district for the next Rotary year. • Should be signed by the Project Coordinator and the Club President. Grants Management Slide 18

Global Grant Reports: Frequency • Progress reports – Within 12 months of first payment – Every 12 months through the life of the grant • Final report within 2 months of completion 19

Global Grant Reports: Content • How partners were involved • Type of activity • Evaluation of project goals • How area of focus goals were met • How funds were spent • Number of beneficiaries and how they benefited 20

Conflict of Interest • Exists when a Rotarian benefits financially or personally from a grant • Benefit can be direct (the Rotarian benefits) or indirect (an associate of the Rotarian benefits) 21

Maintaining Qualification • Follow terms of club MOU • Appoint club member/committee to manage club qualification • Fully implement stewardship practices to prevent misuse of funds 22

Contacts • Stewardship -PDG Travis White, (traviswhite@cox. net; (703 -830 -0649) • Grants – Vance Zavella (vance. zavela@verizon. net) • Global Grants - Andrew Wade. (andrewdwade@gmail. com) • District Grants - Joe Akkara (jaakkara@aol. com) Grants Management Slide 23

Grants Management ? Questions Grants Management Slide 24