When you work with federal grants, it’s just a matter of time before someone says “We need the prior approval of the funder” to do this or that. But this vague term “prior approval” may leave you wondering two important questions when you manage grants: When does 2 CFR Part 200 aka the Uniform Guidance […]
How to Create a Financial Management Manual from Scratch
When it comes to financial management with federal grants, it seems like you have to become a Uniform Guidance “Master” to figure out what the requirements are. Even if you consider yourself a problem-solver, 2 CFR Part 200 is “peppered’ with an overwhelming list of documentation requirements centered around, payment management, property management, record retention […]
What is an Advance?
An advance for a federal grant is a payment method where the funder pays the non-Federal entity in advance of spending the grant funds. (Doesn’t that sound better than waiting for a reimbursement?) § 200.3 Advance payment. Advance payment means a payment that a Federal awarding agency or pass-through entity makes by any appropriate payment […]
What is Cost-share or Match?
Cost-share (also called “match“) is the part of the federally-sponsored project or program that is not paid for by the federal government. “Cost sharing or matching means the portion of project costs not paid by Federal funds (unless otherwise authorized by Federal statute). See also § 200.306 Cost sharing or matching.” From 2 CFR Part 200 […]
What is a Contract?
When it comes to federal grant management, these terms award, subaward and contract are NOT interchangeable. And when grant recipients AND funders and federal regulations seem to use them in that way it is SLOPPY communication.
What is a Federal Award?
Let’s look at the term “Award” for the purposes of federal grant recipients. A federal “award” means grants, cooperative agreements, cost reimbursement contracts and other agreements between the federal government and a non-federal entity such as a: State Government Local Government Indian Tribal Government Non-profit Organization Institution of Higher Education (IHE) Here is the definition […]