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During Grant

Rae Ann Dougherty - USA
RaeAnn Dougherty • 9 Junio 2022

DURING GRANT

Tracking grants is an important part of the grant management process. The relevant persons involved should be fully aware of the grant conditions. During the implementation period, the organization must set-up or adapt a system to account for and monitor the progress of the project or activity and the corresponding fund. This will also show your funder that your organization is financially responsible. Here are the considerations:

 

  1. Meet Project Targets
  • Deliver the project activities as described in the contract/agreement – within the agreed timeframe and budget.
  • Request for revision of timeframe and budget if targets will be missed or becoming unrealistic. It is possible to negotiate with funders.

 

  1. Maintain Regular Communication
  • This is to avoid encountering problems among the organization’s staff involved with the grant, and the organization with the funder.
  • Conduct regular meetings.
  • Keep funders informed of variations to the plan.

 

  1. Observe Accurate Accounting and Recording
  • Maintain project accounts. Ensure accuracy of account coding structures.
  • Monitor and record the grant funds that you receive as a part of your organization’s income. Remember that a grant is a restricted fund, with the purpose outlined in the contract.
  • Set up the accounting codes to match the categories in the project budget as agreed in the contract. This will make reporting at the end of the project efficient.
  • Monitor and record expenditures for the activities carried out. Make sure the activities covered in the project proposal match the activities carried out and the amount of money spent.
  • Observe project start and end dates for spending. Don’t make payments or enter into commitments before the agreed contract start date. All invoices must be dated between the official start and end dates.
  • Compare the budget and actual flow of grant funds as you use them. This will help you analyze your use of the funds and to see how much is left.

 

  1. Keep Grant Files
  • Ensure that the contract/agreement, correspondences and supporting documents (e.g. receipts, invoices) are intact and readily available. It is suggested to get things in writing.

 

  1. Review Progress
  • Set-up reminders for the significant dates and reporting requirements. Provide financial and narrative progress reports to funders.