Grant Regulations

Government Funding Requirements

Are you:

  • New to government funding?
  • Tired of tracking endless funding requirements?
  • Concerned that you may not be compliant?
  • Unable to find or keep qualified staff to manage your grant?

Financial Lifecycle of Government Funding

Financial Lifecycle of
Government Funding

Let Lumix guide you.

Lumix Advisors can walk you step-by-step through the rules, policies, and procedures needed to:

  • fulfill your government grant obligations,
  • retain your funding, and
  • strengthen your eligibility for future grant awards.

Or choose Lumix to outsource some or all of your financial and regulatory requirements.

As a mission-based organization, you know that government grants are key to expanding your capacity and reach. But they come with a host of special (sometimes contradictory) requirements. Lumix experts guide you through:

  • Core accounting
    Efficient processes for accounts payable/receivable, payroll, time-keeping, financial reporting, and annual audits
  • Award setup
    Required policies, procedures, templates; uniform data-collection for program reports; separation of lobbying and conference activities; exporting a range of accounting/grant data; staff training on general grant requirements as well as how to use reporting and similar platforms; tracking compliance with special conditions
  • Award management
    Best practices for drawdowns, invoicing, and budget modifications; using the FFATA Subaward Reporting System (FSRS); identifying allowable expenses; salary/benefit/leave allocations; staffing limitations; tracking program income and matching costs; drafting and filing quarterly programmatic and financial reports
  • Financial strategies
    Spend-down strategies for maximizing funds; identifying factors that affect cash flow; calculating/applying for/monitoring NICRA; monitoring budget vs. actuals; SAM registration/maintenance; preparing for the extensive Single Audit
  • Subrecipient/contractor monitoring
    Contractor/vendor procurement; risk assessment; subaward agreements and budget compliance; invoicing formats and rules; processes for monitoring, recording, and reporting on subaward activity, including budget adjustments; developing reporting channels for prime FFATA compliance; creating a reference toolkit to house all subrecipient policies and procedures
  • Award-closing procedures
    Pacing expenditures for full and appropriate use of funds; identifying need for no-cost extensions and submitting timely requests; creating thorough accounting records of grants for final financial reports and future audits
  • Award oversight (audits/site visits/inspections)
    Understanding which red flags trigger inquiries and how to avoid them when managing your grants; responding effectively to inquiry letters; anticipating site-visit queries; preparing detailed, organized records of grant activity and financials for prompt response
Let Lumix handle the details
so you can change the world.

Contact us at 240-395-4500 for a free consultation to see how Lumix can transform your organization and give you peace of mind.

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