Obligations after the award.
WHAT A GRANT AGREEMENT TYPICALLY REQUIRES
Spending only on approved purposes Following the agreed budget within tolerances Procurement rules for purchases Separate accounting for the funds Progress and financial reporting Audit rights Acknowledgement of the funder Return of unspent funds
WHY SEPARATE ACCOUNTING
Funders require expenditure to be identifiable and traceable.
WHAT TO ESTABLISH
A separate account or clearly identified ledger codes.
WHAT TO RETAIN
Documentation for every item of expenditure.
WHY
It is examined, and unsupported expenditure is disallowed and repayable.
WHAT DOCUMENTATION IS TYPICALLY REQUIRED
Invoices and receipts Evidence of procurement where required Payment evidence Attendance records for events and training Photographs, in some programmes
WHAT TO ESTABLISH ABOUT PROCUREMENT
Whether the funder requires quotations or competitive process.
WHY
Purchases made without following it are disallowed.
WHAT TO DO ABOUT BUDGET CHANGES
Seek approval before reallocating between lines.
WHY
Unapproved reallocation is a breach.
WHAT REPORTING REQUIRES
Progress against the stated outcomes Expenditure against budget Explanation of variances Evidence supporting claims
WHAT TO ESTABLISH
Reporting deadlines, calendared.
WHY
Late reporting delays subsequent payments and damages standing with the funder.
WHAT TO REPORT HONESTLY
Difficulties and underachievement.
WHY
Funders encounter difficulty routinely, and concealment discovered ends the relationship and future funding.
WHAT TO RECORD
Everything, as it happens.
