Government Grant Considerations: The New Era-Managing Federal Grants: Checklist for Recipients & Subrecipients

Managing Federal Grants: Checklist for Recipients & Subrecipients

Pdf Summary

This checklist guides recipients and subrecipients in effectively managing federal grants, emphasizing compliance and accountability. Key points include:<br /><br />1. Compliance: Adhere to 2 CFR 200 Uniform Guidance and the specific terms in the Notice of Award. Maintain up-to-date policies and procedures.<br /><br />2. Financial Management: Use an accurate and complete financial system with strong internal controls to prevent fraud, waste, and abuse. Track costs by funding source and reconcile reports with expenditures.<br /><br />3. Allowable Costs: Ensure all expenses are necessary, reasonable, allocable, and allowable. Monitor budgets versus actual spending and secure prior approval for budget changes when needed.<br /><br />4. Procurement & Oversight: Follow procurement standards ensuring competition and documentation, conduct risk assessments on subrecipients, establish clear agreements, and monitor their performance and compliance.<br /><br />5. Programmatic Reporting: Track progress on performance measures and submit timely, accurate program and financial reports, maintaining documentation for all reported data.<br /><br />6. Property Management: Tag and track federally purchased equipment, maintain records of its use and condition, and comply with federal rules when disposing of property no longer needed.<br /><br />7. Audit & Record Retention: Determine if a Single Audit is needed (for federally funded expenditures of $1 million or more per year), promptly address audit findings, and retain records for a minimum of three years after final report submission or longer if required.<br /><br />8. Communication & Governance: Keep leadership informed of grant responsibilities, provide training for staff managing funds, and document decisions and approvals to ensure transparency and oversight.<br /><br />This checklist ensures federal funds are managed legally, efficiently, and transparently to achieve program goals while meeting federal requirements.

Keywords

Federal grants management

Compliance

2 CFR 200 Uniform Guidance

Financial management

Allowable costs

Procurement standards

Programmatic reporting

Property management

Audit and record retention

Communication and governance