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Before agreeing to take on federal funding, your organization should thoroughly understand the financial implications, including how funds will need to be tracked, how staff and contractor time and effort will need to be recorded, what program costs are allowable , and how they will be communicated and tracked with program staff and finance staff.
They assure adherence to Federal statutes, regulations, and the terms and conditions of the Federalawards. The finance office must provide a monthly or quarterly grant report to PI which should include the transaction dates, vendor names, description, and amount charged to the grant.
For example, if you need to file Schedule of Expenditures of FederalAwards (SEFA) Reports , you can create a report that shows those expenditures by grant. Flexible reporting allows you to meet your compliance and transparency requirements without having to recreate reports each time you need them.
As you undertake your search for financing, this article contains outlines to give you basic idea of funding structures. Every day, the federal government distributes millions of dollars in grants. In order to be qualified for state government funding opportunities, you must first understand what these federalawards entail.
As you undertake your search for financing, this article contains outlines to give you basic idea of funding structures. Every day, the federal government distributes millions of dollars in grants. In order to be qualified for state government funding opportunities, you must first understand what these federalawards entail.
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