ClassWallet’s Post

How to ensure fiscal compliance? Don’t risk compliance issues and reduce your anxiety with public fund distributions. Have you ever wished for a streamlined process? There is a better way. #digitalwallet #ensurecompliance #classwallet

Complement your Grants Management system with an innovative approach to managing and distributing funds. Compliantly increase mission impact and efficiencies while getting funds where they are most needed. #GrantManagement #SocialServices #EducationFunding #Compliance #EarlyChildhoodEducation #ClassWallet

The Biden-Harris Administration has recently finalized guidance to enhance accessibility and transparency in federal grant funding. Key updates include: Uniform Grants Guidance: This new guidance is intended to streamline processes and ensure consistent application of rules across various federal awards, including grants, cooperative agreements, and other financial assistance programs. Cost Principles and Audit Requirements: Detailed in 2 CFR Part 200, these principles and requirements now apply to all awards, Stafford Act declarations, and selected other financial assistance programs. Flexibility in Application: Federal agencies have the option to apply these new guidelines to awards issued prior to October 1, 2024, although it is not mandatory. Reduced Administrative Burdens: The new rules aim to materially reduce administrative burdens on recipients, thereby facilitating easier access to funding and compliance. Understanding and implementing these rules can be confusing. If you find yourself in need of assistance, please feel free to contact us to discuss the services we offer.

Big news for government grantmakers: Uniform Guidance is changing this Thursday. Here are a few key takeaways from the National Grants Management Association Conference to help you prep for the upcoming transition 👇

Grant management is so much more than just applying for grants, organising numbers on a financial report and filing paperwork. In fact, a lot of good grant management is done before a grant is even applied for. 📑 Read on to understand the nuances between grant administration and grant management: https://lnkd.in/gig6mESj

Not-for-profits need to have a process to manage the complexity of funding from the European Commission. Here are three questions to ask candidates wishing to become co-applicants on European Commission-funded projects: 1. Is your organisation audited yearly? Can you send me last year's report? 2. Have you received funding from the European Commission before? Can you extract the P/L of this grant using your analytical accounts? 3. Using your analytical accounts, can you tell me last year's total staff costs for staff X? Any not-for-profits seeking public funding but do not get audited yearly or haven’t set up analytical accounts that allow generating reports on grant or staff expenses should raise red flags. Lack of financial capacity might not be a reason to refuse an organisation’s involvement in the project. But at the very least, it would suggest that this potential co-applicant would need serious help upgrading their working methods to comply with the needs of managing such a grant. Feel free to follow me 🔔 for more tips on managing your grants' finances and administration.

On April 4, the Biden Administration announced revisions to the Uniform Guidance for Federal Financial Assistance focused on streamlining compliance requirements, removing burdensome aspects of the application and grants administration process, clarifying vague and complex language, and improving access to funding for underrepresented communities and groups. The impact promises to be significant for organizations receiving federal funding. In this post, CBM highlights several key revisions and what operations leaders and grants managers can do to get their organizations ready. https://lnkd.in/ezW8EWJy #uniformguidance #federalfunding #cbm #cbmcpa #compliance

GRANTS! We love that free money! Wait, you say that money isn't actually "free"?? Join us for our webinar on what it really costs when you are awarded a grant and how you can best recover your administrative costs. January 17th, 2023 1pm-2pm EST #grantsmanagement #grants

"The Federal government puts conditions on ... funding with the goal of making sure Federal money is spent properly. However, sometimes those conditions create burdens without adding value. The end result is that [it]... wastes taxpayer resources and government unnecessarily increases the cost of finding and applying for Federal programs." If done properly, this should: ✅ Provide more #equitable #accesstofunding for worthy recipients that do not have the excessive resources & time to dedicate to unnecessary requirements. ✅ Allow recipients more time & resources to dedicate toward direct implementation, #impact and #outcomes. ✅ Allow recipients more time & resources to focus on the people they serve rather than compliance work that does not actually improve performance. This is also a great example of how identifying & applying one's #riskappetite, to decide where it makes sense to implement #controls because they add value or more efficiently move one towards one's strategic objectives, and where it does not. https://lnkd.in/d899ZMYY

❌ 𝐃𝐨𝐧’𝐭 𝐰𝐚𝐢𝐭 𝐟𝐨𝐫 𝐪𝐮𝐚𝐫𝐭𝐞𝐫𝐥𝐲 𝐫𝐞𝐩𝐨𝐫𝐭𝐬 𝐭𝐨 𝐦𝐨𝐧𝐢𝐭𝐨𝐫 𝐲𝐨𝐮𝐫 𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠! 📊👀 By keeping a close eye on your finances, you’ll have the opportunity to readjust, align your actions with your goals, and plan ahead. Thank you Janice for sharing this empowering tip or successful grant management! #BoydGrants #GrantManagement #GrantWriting #GrantAward #GoalAlignment