The grant life cycle begins with identifying a project or need, then proceeds through budget development and project planning, application and award, and project execution. After the project is completed, the grant must be closed out and records retained through a post-closeout period. Prior to award, a grantor should assess applicant internal controls and financial systems to ensure the applicant can adequately account for grant progress and expenditures, while protecting the grantor’s investment in the project. Grantor monitoring of the grant should occur from the start of project execution through post-closeout, by reviewing reports, conducting desk reviews, or performing audits. For many grants, external auditors may also review progress and spending during those phases. The grant life cycle can be a complicated process; Colhio Grant Consulting can assist grantors and grantees through every phase of a grant.
| Grantor | Phase | Grantee | ||
|---|---|---|---|---|
| Plan funding opportunity | Planning | Plan project/program/ funding need |
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| Announce funding opportunity | ◄◄ Announce | | | | Research ►► | Research grantmakers Identify potential funding |
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| Receive & screen applications | Application | Prepare proposal(s) Submit application(s) |
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| Award funding Notify non-recipients | Award | Audit Possible | Accept award Review grant criteria & requirements | Potential Audits: ♦ Pre-award capacity ♦ Desk review ♦ Grant audit ♦ External audit ♦ Single Audit |
| Provide support Technical assistance Monitor grant | Project Execution | Perform project/program Manage grant Plan for future needs |
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| Ensure requirements met Assess deliverables Review final reports | Closeout | Prepare final reports Retain records |
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| Retain grant records | Post-Closeout | Retain grant records | ||
Let Colhio Grant Consulting assist with your grant administration needs, so you can focus on your mission.
Colhio Grant Consulting
Grant Planning ♦ Grant Management ♦ Reporting & Monitoring