MASBO NEW CLERKS ACADEMY Grants Management Grant Management
MASBO NEW CLERKS ACADEMY Grants Management
Grant Management Grants and Fund 15 Auditors pay a lot of attention to grants in Fund 15 Be careful to make sure that you use Project Reporter Codes for all grant money
Grant Management Setting Up Grants Try and have a discussion with the grant manager when they are applying Set expectations Reporting requirements Important dates Possible limitations It’s good to have this discussion every year with recurring grants and whenever there is a change in the grant manager
Grant Management Setting Up Grants(cont. ) Grants do not need to be coded to Fund 15 in your financial system Using It a different fund code for each grant makes tracking simpler is easier for grant managers to understand Report Project PRC generation is less tedious Reporter Codes (PRC) Codes can change each year Set up a block of PRC’s that can be tied to a grant and change each successive year 100 -109 can be changed each year to match to the fiscal year, i. e. 100 ties to FY 2020
Grant Management Sample Form:
Grant Management Tracking and Maintaining Grants Be diligent in tracking grants throughout the year Reconcile monthly This will help eliminate a mad scramble at the end of the year OPI has a handy spreadsheet for a limited number of funds OPI/Leadership/School Finance/Accounting/Guidance & Manuals/Miscellaneous Fund Worksheet Create your own spreadsheet Use these spreadsheets for auditors, for balancing purposes, and to create supporting documents for cash requests and as additional checks and balances. Work closely with the county Treasure to correct errors as soon as they are identified
Grant Management Tracking and Maintaining Grants(cont. ) Be familiar with grants, particularly local grants These can have odd reporting requirements and allowable cost restrictions Make sure you are tracking and reporting allowable cost for the grant (Indirect Cost Rate) Allowable Necessary and reasonable to the performance and administration of the project Authorized or not prohibited by state or local laws or regulations
Grant Management Tracking and Maintaining Grants(cont. ) Unallowable Entertainment Excess of costs over the grant amount Termination OPI pay and auditors pay close attention to what you report
Grant Management Closing out grants Monthly tracking and reporting should make closing out grants fairly easy Make sure you know the grant end date and close out date Federal – September 30 State – June 30 Local – Can vary Be ready to close out as soon as all expenditures are accounted for i. e. payroll processed and invoices received This Photo by Unknown Author is licensed under CC BY-ND
Grant Management Indirect Costs What are Indirect Costs The costs of doing business that are charged to the General Fund Accounting/Payroll HR Special Education Admin Title I Admin Can be viewed as another revenue to offset General Fund Cost Can be spent as designated by the Board Reduces the amount available for the grant’s purpose Must be approved by OPI to apply
Grant Management Questions
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