7.4 Post-award management and reporting

Grant management doesn't end when you get the money. It's an ongoing process of tracking, reporting, and evaluating your project's progress. You'll need to stay on top of finances, follow the rules, and show your funders the impact you're making.

Reporting is key to keeping everyone in the loop. You'll share financial updates, progress reports, and outcome measurements. Be ready for audits too. Good management and clear communication will help you build trust with funders and set you up for future grants.

Grant Management

Understanding the Grant Agreement and Compliance

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• Grant agreement serves as a legally binding contract between the grantor and grantee
• Outlines specific terms, conditions, and expectations for the funded project
• Includes project scope, timeline, budget, and reporting requirements
• Compliance involves adhering to all stipulations in the grant agreement
• Requires careful review and understanding of federal, state, and local regulations
• Necessitates implementation of internal controls to ensure proper fund management
• Involves maintaining accurate records of all grant-related activities and expenditures

Managing Grant Modifications and Closeout Procedures

• Grant modifications address changes to the original agreement during the project
• Can include budget revisions, timeline extensions, or alterations to project scope
• Require formal approval from the grantor before implementation
• Often necessitate submission of detailed justification for proposed changes
• Closeout procedures mark the formal end of the grant period
• Involve submitting final reports, financial statements, and project outcomes
• May include returning unused funds or equipment purchased with grant money
• Require thorough documentation of project accomplishments and lessons learned

Reporting and Evaluation

Financial Reporting and Progress Reports

• Financial reporting provides detailed accounts of grant fund expenditures
• Includes itemized expenses, budget comparisons, and explanations for variances
• Often requires submission of supporting documentation (receipts, invoices)
• Typically follows specific formats or templates provided by the grantor
• Progress reports offer periodic updates on project activities and achievements
• Highlight key milestones, challenges encountered, and solutions implemented
• May include quantitative data (number of people served, services provided)
• Serve as a communication tool between the grantee and grantor

Outcome Measurement and Audit Requirements

• Outcome measurement assesses the impact and effectiveness of the funded project
• Involves collecting and analyzing data related to project goals and objectives
• Utilizes both quantitative (statistical data) and qualitative (testimonials, case studies) methods
• Helps demonstrate the value and success of the project to stakeholders
• Audit requirements ensure proper use of grant funds and compliance with regulations
• May involve internal audits conducted by the grantee organization
• Often include external audits performed by independent auditors or government agencies
• Focus on financial management, program performance, and adherence to grant terms
• Can result in recommendations for improving grant management practices