What are Some Financial Best Practices with Grant Funds?

 

·      Follow your spending plan to distribute and use grant funds for the stated purpose in a timely manner.

·      Make project-related expenditures by check or other traceable method.

·      If payments are made electronically by one person, maintain a paper trail showing that the payment was approved by both signatories.

·      Maintain detailed receipts and record each transaction in a ledger. The ledger should list each transaction, noting the date, amount, and reason for the transaction.

·      Make sure to share the information so grants run smoothly and funds are secure.