Managing Public Grants
Summary 17
The requirements for use of funds imposed by the Federal government are designed to ensure that funds are used in the most efficient manner to provide services that produce desired outcomes. The process of learning and navigating Federal grants management often strengthens an organization's financial and program management systems for future undertakings.
Here are some key points to keep in mind for successful grants management:
- Develop a checklist of the Federal awarding agency's requirements, and follow them exactly.
- Spend the grant funds exactly as specific by the terms of the grant agreement.
- Regularly communicate with project staff and program officers and grants management officers.
- If any deviation from agreement terms is necessary, request prior approval from the funding agency.
- Submit performance and financial reports on time and as required by your agreement.
- Maintain good record-keeping systems in preparation for program audits.
- Monitor programs and services, ensuring alignment with overall project objectives.
- Exercise due diligence and fiscal responsibility when carrying out the tasks supported by the grant.