Bookkeeping Practices Bookkeeping Practices for Self-Help Grants (523)for Self-Help Grants (523)

Theresa M. HuntSelf-Help Specialist

June 18, 2013

A Brief overview of 523 grant funds, structuring your accounting system, federal requirements, allowable and disallowed expenditures, federal tax forms and the importance of budgeting.

What are 523 grant funds.

Who controls the grant funds.

Guide to Basic Bookkeeping Guide to Basic Bookkeeping for Not-for-Profit for Not-for-Profit OrganizationsOrganizations

Structuring your accounting systemThis Training Guide can be found on

FNPH’s website: www.fnph.org under publications

OMB Circulars and RD OMB Circulars and RD Instruction 1944-IInstruction 1944-I

Federal RequirementsOMB Circulars can be found at

www.whitehouse.gov or from a link on FNPH’s Website www.fnph.org under Publications

RD Instruction 1944-I can be found from a link on FNPH’s Website under Rural Development Regulations.

RD Instruction 1944-I, §1944-405 RD Instruction 1944-I, §1944-405 and Exhibit A, Page 2 (C )and Exhibit A, Page 2 (C )

Allowable expenditures

RD Instruction 1944-I, §1944.406RD Instruction 1944-I, §1944.406

Disallowed expenditures

Tax Calendar, but remember to Tax Calendar, but remember to personalize.personalize.

Federal Tax Forms

Monthly Financial ReportMonthly Financial Report

Importance of Budgeting

Not limited to Draw Down Not limited to Draw Down Requests, Cash Transaction Requests, Cash Transaction Reports, SHARES and A-133Reports, SHARES and A-133

Program Reporting