We all know how much information is out there about how to manage your federal grants.
And yet with all that information, does it still feel like you’re drinking from a fire hose?
- The latest visit from the Program Officer.
- The need for processes and procedures.
- Indirect cost rate proposals.
- The push to hire and train more grant staff-quickly.
And then throw on top of that, learning about and implementing the new grant regulations.
What’s Working for Grant Management in 2014
It may seem impossible at times, but here it is:
The foundations of managing your grant the right way hasn’t changed…even if there are a whole new set of regulations for your Federal Award.
- You still need good internal controls
- You still need a program staff that is well-trained on what it takes to spend Federal funds appropriately
- You still need to monitor subrecipients, and make sure that time and effort reporting is well documented.
While that may sound good in theory– does it still feel a bit overwhelming?
We feel your pain, because we’ve been in your shoes.
But keep your eyes closed and hoping for the best, is just not going to fly in 2014.
The times they are changing…
What’s NOT Working for Grant Management in 2014
With the increased focus in the new grant regulations on performance and oversight, you can bet there will be pressure at the Federal level to make sure grant management is not “business as usual.”
Let’s look at 3 things that won’t be working in 2014.
- Excuses: No more can the organization say they didn’t know how the grant funds were spent. Soon a senior manager will be certifying the costs.
- Denial: No more is it enough to “hope” the federal funds are producing results. New expectations of performance and outcome based funding will shine a big light on what the taxpayers are really getting for their money.
- Mum’s the Word: No more waiting to see “if” the auditors will find something. New disclosure, assessment and certification requirements put the organizations on notice they need to start the conversation when problems are known.
Over the years, we’ve seen what works and what doesn’t.
And in the coming weeks we’ll be sharing some thoughts with you on exactly that with a special focus on the effect of the new grant regulations.
P.S. If you’d like to find out more about the new grant regulations, our next webinar will be looking at the new disclosure and certification requirements contained in the new grant regulations.
We’ll also have a Q & A session for grantees as well.
Register Now for Our Free One-Hour Informative Webinar on Thursday February 27th, 2014
When: Thursday February 27th at noon Eastern Time, (11 AM Central Time, 10 AM Mountain Time, 9 AM Pacific Time)
If you registered for the last webinar, you don’t have to register again. We will email all the details to you as we get closer to February 27th.
Lucy Morgan CPA
CEO, Chief Compliance Warrior