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Skills / Working / Manage a grant budget

Working Money skill

Manage a grant budget

Track restricted funding, eligible costs, match, changes, and evidence against an approved award.

Procedure

  1. Confirm executed award, period, budget, restrictions, reporting, match, procurement, and record-retention terms.
  2. Have qualified owners resolve legal, tax, accounting, and allowability interpretations.
  3. Create budget codes by work package, cost category, funding source, and reporting requirement.
  4. Map approvals, procurement, time records, invoices, allocation methods, outputs, and evidence.
  5. Reconcile budget, actuals, commitments, forecast, match, advances, and cash position regularly.
  6. Flag potential ineligible, unsupported, late, related-party, or over-budget costs before reporting.
  7. Obtain approval for rebudgeting, extensions, scope changes, and transfers before acting.
  8. Prepare reconciled reports and retain an accessible, controlled audit file through closeout.

Guardrails

  • Do not assume a necessary cost is eligible under the award.
  • Never move cost between funding sources merely to exhaust a budget.
  • Protect participant, payroll, banking, and commercially sensitive evidence.

Related skills

  • Manage a debt covenant calendar — Manage debt covenant dates, definitions, calculations, submissions, headroom, amendments, and evidence across facilities.
  • Manage a project budget — Reconcile project budget, actuals, commitments, forecast, contingency, and approved changes.
  • Manage a chart of accounts — Manage a chart of accounts as a controlled, versioned structure for posting, reporting, tax, consolidation, and analysis.