District 7610 Rotary Foundation Seminar

Grants Management Slide 1

Grants Management

PDG Travis WhiteDistrict 7610 Rotary Foundation Stewardship Committee

Purpose

• Understand how to manage a Rotary Foundation grant

• Learn stewardship expectations– Responsible financial management– Corresponding accounting practices

• MOU implementation and compliance

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Grant Planning and Application

• Not our focus in this session• Global Grants

–Breakout this AM–Andrew Wade, Global Grants Chair

• District Grants–Concurrent breakout–Joe Akkara, District Grants Chair

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Grant Management

Grant Management

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Ensures that projects:• Have proper financial control• Adhere to technical standards• Meet the needs of the

beneficiaries• Fulfill their objectives • Safeguard funds

Successful Grant Projects

• Meet community needs• Include frequent partner communication• Have implementation plan• Are sustainable• Maintain proper stewardship of funds

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Stewardship

•Stewardship is the responsible management and oversight of grant funds, including: – Rotarian supervision – Financial records review– Oversight of funds– Reporting irregularities– Timely submission of reports

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Qualification Requirements

To be eligible to receive Rotary Foundation funds, clubs must:• Attend a grant management seminar• Agree to club memorandum of

understanding and submit signed MOU to district

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Terms of Qualification

• Valid for one year• Club responsibility for grant funds• Disclose conflicts of interest• Cooperate with all audits• Use grant funds properly• Implement the club MOU

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Oversight and Reporting

• Best practices for managing funds and record keeping

• Which documents need to be retained• Reporting requirements

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Responsible financial management

• How do we make sure grant funds are used as effectively and efficiently as possible?

• Using Standard Business Practices to• Make informed purchasing decisions

• Conduct financial transactions in a transparent, traceable manner

• Maintain complete records of all financial activity

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Financial Management Plan

• Bank account for funds• Distributing funds• Use checks/bank cards to track funds• Detailed ledger• Include local laws• Document retention• Transfer of custody

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Bank account requirements

• Project account requirements• Minimum of two Rotarian signatories

• Low or non-interest bearing

• Separate account for each grant project, clearly identified

• Bank statements

• Account activity• Funds withdrawn to make direct payments

• Excess returned or seek approval

Use of Grant Funds: Purchases

• Cost-effective purchases of goods or services

• Bidding process or request for proposals needed to

make informed purchasing decisions

• Vendor selection and price point clear to

district/TRF staff

Tip: If prices changed during the implementation stage (differ significantly from

approved budget), contact your grant officer and receive approval for the

change in prices or quantity

Use of Grant Funds: Payments

• Invoices must be received for goods/servicesTip: Do not make payments until you have received an invoice

• Payments should be made directly to vendorsTip: If purchase has been made by another party, such as a cooperating

organization, invoice must be received before payment/reimbursement is made

• Payments should be made by checkTip: When cash payments are necessary, use a receipt book to record the expense at local markets and ask the vendors to sign the receipt

• Event of misuse

Ledger of Payment Activity

Ledger should include (at a minimum):

• Date of transaction

• Check number

• Payee

• Amount

• Purpose of transaction

• Signature of reviewer

Document Retention

• Retain for a minimum of five years

• Documents that should be filed

systematically and cross-referenced in a

ledger:– Invoices/receipts

– Bank statements

– Inventory list

• Provide access• Make copies

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Reporting – District Grants

• Status mid year• Final on project completion:

• Narrative statement with project outcomes clearly defined.

• Information regarding the impact of the projects on the beneficiaries.

• Full description of Rotarian oversight, management and involvement in the project.

• Statement of income and expense (receipts/bank statements).

• Detailed narrative describing the implementation of the projects and how experiences gained will inform/guide the district for the next Rotary year.

• Should be signed by the Project Coordinator and the Club President.

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Global Grant Reports: Frequency

• Progress reports–Within 12 months of first payment–Every 12 months through the life of the

grant

• Final report within 2 months of completion

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Global Grant Reports: Content

• How partners were involved• Type of activity• Evaluation of project goals • How area of focus goals were met• How funds were spent• Number of beneficiaries and how they

benefited

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Conflict of Interest

• Exists when a Rotarian benefits financially or personally from a grant

• Benefit can be direct (the Rotarian benefits) or indirect (an associate of the Rotarian benefits)

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Maintaining Qualification

• Follow terms of club MOU• Appoint club member/committee to

manage club qualification• Fully implement stewardship practices

to prevent misuse of funds

Contacts

• Stewardship -PDG Travis White, (traviswhite@cox.net; (703-830-0649)

• Grants – Vance Zavella (vance.zavela@verizon.net)

• Global Grants - Andrew Wade. (andrewdwade@gmail.com)

• District Grants - Joe Akkara (jaakkara@aol.com)

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Grants Management

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Questions

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