Effective grant management keeps your activities in line with the agreements made with a funder, organizes your budget and allocations, and helps maintain a strong relationship with foundation partners.
Community Partners records all grant agreements for projects. However, it's important for projects to assist in tracking grant specific expenses by connecting with your finance liaison in order to create funder codes and sub-accounts in Community Partners' accounting system (AccuFund). These funder codes and sub-accounts need to be set up at the beginning of a grant period in order to properly allocate all expenses to the grant.
Once you have the funder codes or sub-accounts established, you'll need to make sure these are always noted on all check requests or Certify submissions related to the grant. Accurate tracking is crucial and extremely helpful at grant reporting time. Talk to your finance liaison as soon as a grant contract is signed to get funder codes or sub-accounts set up.
Projects are responsible for adhering to the grant agreement and reporting requirements listed by the funder. Examples of activities projects should monitor and record include:
- Expenses listed in the application
- Program activity as listed in the application
- Progress towards goals and objectives as listed in the grant application
Community Partners Responsibilities
- Community Partners allows projects to create funder codes and sub-accounts to track project expenses. Discuss this option with your finance liaison.
- For government contracts, Community Partners will help you with monthly/quarterly invoices