Federal grants management policy has loads of “urban legends” — pieces of misinformation that circulate as though they were true. One common topic where the legends show up is the management of cash payments from awarding agencies to grant recipients or subrecipients.
The “legendary” requirements are often so baked into payment procedures that it’s hard to remember why or how they were adopted. Some legends actually have names, like “3-day rule” or “cost reimbursement,” that can trigger misunderstandings.
The actual requirements arise from multiple sources that apply to federal agencies, pass-through entities, and subawardees. They must be read together, and they are readily auditable.
This webinar will revisit the federal grants cash management requirements to help you chart an accurate path to compliance. We’ll cover:
- Required content of written cash management policies
- Available grant payment options
- Advance payments
- Working capital advances
- Reimbursement
- Cash payment requirements affecting pass-through entities
- Recipient and subrecipient payments to contractors
- Internal control features to safeguard federal cash
- Financial reporting linkages
- Single audit testing for cash management compliance
Alternative subject lines:
- It’s time to revisit federal grant cash management “urban legends”
- What does it really mean when a federal grant is cost-reimbursable?
- Federal grant cash management is readily auditable. Enough said?