Getting the grant is often the easy part. After a notice of award is made to your project, a significant amount of work begins over the duration of the award dates, which includes implementing the grant, reporting progress, and completing the closeout requirements. While this process can seem overwhelming, Buckeye Hills is here to assist as you navigate the grant terms and conditions.
As a grantee, you have a responsibility to faithfully and diligently carry out the grant program. Once the grant is awarded, the work can truly begin, and this includes implementing the grant, reporting progress, and completing the closeout requirements. Buckeye Hills and the funding agency that makes the award are here to assist and ensure your organization complies with the grant terms and conditions.
The funding agency maintains various programmatic and financial reporting procedures to monitor your progress and expenditures. A performance metric is issued per the grant agreement to guide you on what the agency expects to have done through the award. While the majority of award recipients carry out the grants ethically and efficiently, these monitoring procedures are necessary to maintain transparency and to prevent fraud and abuse.
A grants management officer and program officer is designated from the awarding agency to each grant and works alongside you and your project throughout the life of the grant. These officers will review reports and conduct site visits, so it’s crucial to build an effective line of communication with them. It is better to prevent issues by talking to your grant and program officers to clarify grant terms or expectations than it is to submit a report and wait for problems to be identified and recourse initiated.
The specific reporting requirements, schedules, and systems can vary for each grant, so please review the grant terms and conditions carefully for this information. Utilizing our years of experience, the Community Development team is happy to assist you to better understand any award expectations.
State and federal grant-making agencies and grant recipients can expect to be audited. The Government Accountability Office (GAO), Office of Inspector General (OIG), and various departments within each agency monitor and analyze policies, expenditures, and more activities within each grant-making agency. These same entities, as well as others, also monitor and analyze the performance of grant recipients.
Once the project is completed and funds are expensed, the closeout step begins. In order to complete a closeout, the award recipient must submit the final financial and programmatic reports. According to the OMB Uniform Grants Guidance §200.343, the recipient must submit all financial, performance, and other reports required under the grant within 90 days after the grant award expires or is terminated. The funding agency will review these reports to ensure compliance will all the grant terms and conditions as well as to make sure you spent all the funds appropriately.
How do you know when a grant is officially over? The funding agency has to confirm that the recipient has completed all of the required grant work and all the applicable administrative tasks. Until the awarding agency confirms this, you are still responsible for fulfilling all the terms of the grant. The closeout process can take several months if there are financial concerns or questions to reconcile. Also, if your organization acquired any property using grant funding, the closeout step is when you must make sure to handle this property exactly as the grant stipulates, which includes completing the appropriate reports on this property. Lastly, you are typically required to retain your grant records for at least three years from the date of the final expenditure report.
Need assistance with your grant or project? Contact our Community Development team to find out how we can help. Email us: development@buckeyehills.org
