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Grant Management: Fiscal Information

Grant Management: Fiscal Information. Monika Lacka U.S. EPA, Region 5. Budget Basics. Grant budget includes anticipated funding needed to achieve objectives Includes any match or cost-share requirement. Budget Preparation. Budget is financial expression of project

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Grant Management: Fiscal Information

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  1. Grant Management: Fiscal Information Monika Lacka U.S. EPA, Region 5

  2. Budget Basics • Grant budget includes anticipated funding needed to achieve objectives • Includes any match or cost-share requirement

  3. Budget Preparation • Budget is financial expression of project • Only necessary, reasonable costs should be included

  4. Official Budget • Budget costs must be • Allowable • Allocable • Reasonable • Eligible • Necessary! Budget Preparation (cont.)

  5. Official Budget Budget Categories Completed Narrative SF-424A Section B The official budget consists ofa) Completed SF-424A, Section B, Budget Categoriesb) Budget Narrative Budget Preparation (cont.)

  6. BUDGET INFORMATION Remember: The budget reflects TOTAL project costs.

  7. Written explanation of costs contained in Object Class Categories should • Be detailed • Clearly describe costs Budget Narrative in addition to SF424A

  8. Personnel • Identify position, annual salary, %FTE, amount charged to grant • Documentation: activity reports and timesheets must be kept • Regulations found at • 40 CFR Part 31 • 2 CFR Part 225 (formerly OMB A-87)

  9. Travel List number of trips and travelers, destination(s) and purpose(s) of trips • Airfare • Per diem and lodging • Mileage reimbursement • Other transportation

  10. Equipment • Items designated equipment per recipient’s policies (i.e., over $5,000 per unit cost) • Inventory control • With EPA approval, can be used for other EPA grants

  11. Supplies • Designated items per recipient’s policies, usually under certain threshold (i.e., less than $5,000 per unit cost) • Paper, pens, pencils, Post-it notes • Lab supplies, computers, software • Field-survey supplies

  12. Contractual • Budget contractors and services, not tribal employees • Competitive proposals • For sole source, documented cost analysis needed

  13. ‘Other’ Direct Costs • Conference/meeting room rental • Phone and postage (cannot be included in indirect cost pool) • Conference/training registration fees

  14. Indirect Costs • Costs incurred for common/joint purpose, a.k.a. “overhead costs” • Allocable to more than one “cost objective” (grant or source) • Not readily identifiable for specific program • Examples: administrative staff, electricity, water, sewer, rent, phones, etc. (indirect-cost rate pool)

  15. Sample Budget Narrative

  16. Match (Non-Federal) Share 1) Determine total federal funds available - $120,000 2) Divide total federal funds available by maximum federal % allowed (federal 95%, non-federal 5%) $120,000 ÷ 0.95 = $126,315 3) Subtract federal amount from the total project costs Total project costs $126,315 Federal amount -120,000 Match $ 6,315

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