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After the decision

Keeping track of grants

Funders differ in how they give out grants. Some direct credit the grant to the group’s bank account. Others send a cheque or give it out at a function. Lottery asks for a client agreement form to be returned before the grant is uplifted.

Major projects may have conditions placed on the grant. The most common is that the grant will be paid when the project proceeds.

Most grants are given for a specific purpose and should not be used for other purposes. It is important to know when the grant is spent.

A grant for equipment, such as a computer, is readily accounted for from the record of purchase. If a grant is for a programme, costs come under different budget headings. The easiest method of keeping track of spending is to use an exercise book, with a page for each grant. From the cash book, enter the items spent for the project and keep a running total of the balance remaining. Accounting software programmes will allow you to code expenditure against a grant.

If you are not able to spend the grant on the purpose for which it was granted, contact the funder and explain why. Don’t spend the money first! If there is a good reason, most funders will agree to a change of project.

If you receive two grants for the same project, contact the second funder and ask if the grant can be spent on a similar purpose or held over. If not, it will need to be returned.

Accountability

Most funders have some form of accountability process for the grant. They may ask for an accountability form to be completed and returned by due date. Some funders ask for copies of receipts for items purchased. Diary accountability deadlines when the grant is received.

If the accountability requirements are not met, most funders will decline to fund in the following year. In some instances funders may ask you to return the money.

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