Restricted funding carries obligations that continue well past the award letter: allowable-cost rules, reporting calendars, matching requirements and record-retention terms that vary by funder.
Track restriction at the transaction level rather than reconstructing it from program budgets at year end. Every expenditure charged to an award should carry the identification that makes it traceable back to the award terms.
Reporting deadlines set by funders frequently do not align with the fiscal year. Maintain a single calendar of every reporting obligation across all awards, with the responsible person named.
Organizations expending federal awards should confirm current Uniform Guidance requirements, including the expenditure threshold that triggers a single audit, for the fiscal year in question. Terminology from the superseded A-133 circular still circulates and should not be used as a current reference.
Editorial noteConfirm current Uniform Guidance single audit expenditure threshold and date-stamp before publication.
This article is general information for nonprofit leaders and is not legal, accounting or tax advice. Requirements change; confirm current guidance for your organization's fiscal year before acting.
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