• Skip to content
  • Skip to primary sidebar
  • Skip to footer

MyFedTrainer.com Blog

  • Home
  • Training
    • ONLINE Self-Study Grant Management Boot Camp
    • LIVE Instructor-Led WEBCAST Grant Management Boot Camp
    • LIVE On-Location Grant Management Boot Camp Events
    • LIVE Onsite Group Training
    • Course Information
  • Templates
    • Editable Financial Management Manual
    • Editable Grant Management Manual
    • Editable Procurement Manual
    • Editable Grant Management Presentation Slides
    • Editable New Grant Regulations Presentation Slides
  • Store
  • Blog
  • Contact Us
  • MyTraining
You are here: Home / Articles / Top New Year’s Resolutions for Grant Management

January 15, 2013 By admin

Top New Year’s Resolutions for Grant Management

Each year, the top New Year’s resolutions involve getting rid of bad habits and adopting good habits. Grant management is no different.

We all want to have a healthier relationship with our Funding Agency, lose the weight of grant mis-management that’s dragging us down and quit being in denial about our internal controls being strong when we don’t actually do anything to make them that way.

1/3 Federal Grants Have Audit Findings

Would it shock you to know that 1 in 3 federal grant recipients have audit findings?

A couple years ago we analyzed over 1000 A-133 audit results and found that having reportable conditions with a federal grant or sponsored agreement is more common than you may have realized.

What Happens When There Are Audit Findings?

A corrective action plan is generally the next step after the auditors tell you there are findings on the A-133 audit.

Think of a corrective action plan as a “New Year’s resolution” for your federal grant.

  • How are you going to get rid of the bad habits that occurred?
  • How will you implement good habits going forward?

Three Steps to Make a Corrective Action Plan Successful

Just like sticking to a New Year’s resolution, the key to making a corrective action plan successful involves the following three steps:

Set Reasonable Goals:

The issues that caused the negative report probably didn’t happen overnight, similarly the solutions will involve time to put new systems in place, and train employees on the new expectations or new ways of managing your grants.

Design a Schedule to Achieve Goals:

The corrective action plan is the beginning, not the end. Achieving the desired results involves a schedule of activities designed to make the goal happen. These activities should be specific, measurable, attainable, realistic and timely.

Monitor Results

Monitoring is the “stepping on the scale” moment. If you don’t monitor the results of your corrective action plan, you won’t know if you are meeting your goals.

  • Is the grant management now in compliance?
  • Are there any unintended consequences as a result of the corrective action plan?
  • Do adjustments need to be made to the plan?

Monitoring is how you keep from having the same problem surface when the next year’s audit rolls around.

Need To Write a Corrective Action Plan for a Federal Grant?

Trying to make 2013 a better year for grant management? As the New Year starts, we thought this would be a good time to re-visit an “oldie, but goodie” on How to write a corrective action plan.

 

Author:

Lucy Morgan CPA, MBA

CEO, Compliance Warrior

MyFedTrainer.com

Filed Under: Articles, Best Practices, Blog, Compliance Warriors, Grant Management, Training and Development Tagged With: grant training federal government

Reader Interactions

Primary Sidebar

Upcoming Training

  • Join our next Webcast Grant Management Boot Camp-No Travel Required!
  • Join our next Live Grant Management Boot Camp Event in Orlando Florida
  • Join our next Live Grant Management Boot Camp in Denver Colorado

Search topics

Recent Posts

  • Decoding Grant Management-Success Tip: Revision of Budget and Program Plans
  • 3 Tips for Coping with Questioned Federal Grant Costs
  • What’s In a Name? 5 Tips to Spot Subrecipients
  • 7 Basics of Internal Control Grant Managers Should Know
  • Federal Audit Finds Sheriff’s Organization Misspent More Than $704,000 in Award Funds
approved trainer

Top Post

  • New Procurement Rules Clarified By OMB

See More Posts

Footer

Recent Posts

  • Decoding Grant Management-Success Tip: Revision of Budget and Program Plans
  • 3 Tips for Coping with Questioned Federal Grant Costs
  • What’s In a Name? 5 Tips to Spot Subrecipients
  • 7 Basics of Internal Control Grant Managers Should Know
  • Federal Audit Finds Sheriff’s Organization Misspent More Than $704,000 in Award Funds
  • Facebook
  • RSS
  • Twitter
  • YouTube

Resources

  • Resources
    • FAQ
    • Group Training
    • Terms of Use
    • Guest Blogging Policy
    • Blog

Company Profile

MyFedTrainer.com is a leading provider of online grants management training and live grant management training seminars.Available via the 24/7 convenience of the Internet, training can be self-paced to fit even the busiest schedule.We also offer live, interactive training seminars in various locations including on-site at your location.Our passion is helping individuals and … Read More... about Company Profile

Customer Service

  • Customer Service
    • Contact Us
    • Feedback
    • E-Mentoring
    • Learning Management
    • Privacy Policy

Connect With Us

MyFedTrainer, LLC
WE'VE MOVED! OUR NEW ADDRESS IS:
8270 Woodland Center Blvd.
Tampa Florida 33614
P: 970-744-3214
E: Support@MyFedTrainer.com
We are a Women-Owned Small Business (WOSB) Our DUNS # is 962332602

Search

Company

  • Company
    • About Us
    • Our Values
    • Why Buy From Us
    • Testimonials
    • Site Map

MyFedTrainer, LLC Copyright © 2019 (All Prices are shown in USD)