There are many moving parts when you are managing federal grants.
That’s why we wanted to make it easier to find all our favorite tips from “Decoding Grant Management – The Ultimate Success Guide to the Federal Grant Regulations in 2 CFR Part 200.”
Here are 7 success tips in our most favorite federal grant reference book:
#1: Decoding Grant Management-Success Tip: Types of Federal Awards
Does the idea of a bunch of grant regulations make you feel unsettled?
(Maybe even a little anxious?)
Since the founding of the United States, federal grants have been seen as a “gift” with a few conditions thrown in.
For example, you could argue that the federal government didn’t take the whole concept of performance and accountability too seriously until the start of 2 CFR Part 200.
(And that’s why we put together 7 Success Tips.)
We have entered a new time in the evolution of grant management with the OMB Uniform Guidance changes.
Some are even calling this period “The New Age of Accountability.”
In the past, making an effort may have been good enough, but now it is performance and results on your federal award that matter.
And grant regulations 2 CFR Part 200 have a role in spelling out everyone’s roles and responsibilities.
This post looks at the first step in managing grants; understanding the main types of federal awards in our first of 7 success tips.
#2 Decoding Grant Management-Success Tip: Subrecipient Monitoring
One of the (many) things I found very confusing when I started working in the world of federal grant management is how the terms subrecipient, subawardee, contractor, subcontractor, and vendor are bandied about, seemingly interchangeably.
It didn’t matter if I was talking with my colleagues or federal agency personnel; there always seemed to be much confusion around these terms.
And I knew making the distinction was important because there were very different grant compliance and monitoring requirements based on the classification.
(That’s why we selected this as the second of our 7 success tips.)
This article looks at the responsibilities of grant recipients to monitor subrecipients.
#3 Decoding Grant Management-Success Tip: Revision of Budget and Program Plans
Maybe I’m a dreamer, but I like to believe that it is rare that a grant recipient would intentionally misuse funds.
However, without proper planning and documentation, an organization places itself at risk for misuse of funds.
Prevention of these undesirable outcomes starts at the beginning of the grant application and writing process.
Organizations that carefully construct and review the budget delivered to the federal awarding agency will reduce the risk of misuse of federal funds by ensuring that the budget is adequate and realistic in meeting grant requirements.
But what do you do when things change after the budget is sent to your funding agency?
This article (our third of 7 success tips) discusses how to handle changes in program plans and budgets with your federal grant.
#4 Decoding Grant Management-Success Tip: Competition and Affirmative Steps
“It’s not fair!”
This cry is not just for toddlers and politicians.
The federal government also jumps in the mix regarding federal grants.
The Uniform Guidance (2 CFR Part 200) requires grant recipients to spread federal dollars around to businesses that may have been shut out of federal spending in the past.
This fourth of our 7 success tips looks at what serving these underserved communities of small business, women-owned and minority-owned enterprises means for your federal grant.
#5 Decoding Grant Management-Success Tip: Allowable Costs
I recently had a conversation with a dedicated and innovative engineer about how to receive funding for his organization, which builds specially designed 3D printers to create prosthetic hands for children injured by the effects of war and poverty.
It is an admirable and exciting program that could transform the lives of some of the most vulnerable and traumatized citizens in diverse areas of the world.
However, he was focused more on cool technology than young lives that could be dramatically improved, from a place of hopelessness to pride and excitement.
He failed to recognize that funders care more about programs and people.
Simply put, funders want to fund programs that make a difference and improve lives.
This fifth or our 7 success tips looks at how you comply with the rules and keep funders happy.
#6 Decoding Grant Management-Success Tip: Adequate Documentation
Like zombies rising from the dead, inadequate documentation can return to haunt you alarmingly.
Want an example?
I recently analyzed a case study where the review of administrative and clerical costs resulted in $1.7 million being deemed unallowable!
Unfortunately, all those moaning sounds are not just zombies.
So what makes documentation “adequate,” and what are some examples of adequate documentation?
This sixth of 7 success tips gives you several insights.
#7 Decoding Grant Management-Success Tip: Record Retention
Are you facing the “Goldilocks Dilemma” of record retention? Is your record retention too much? Not enough? Or just right?
Are you wondering which records you need to keep to comply with the federal grant record-retention requirements and which ones can be tossed?
(Inadequate supporting documentation is an area that gets many federal grant recipients into trouble.)
This last article in our 7 success tips walks you through the basics of record retention for your federal grant under the Uniform Guidance.
I hope this summary has been helpful to you!
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