New Search
FINANCIAL POLICIES AND PROCEDURES MANUAL — GRANTS <br />I-1. Grant Management <br />LEGAL REQUIREMENTS: <br />OMB Circular A-102, “Uniform Administrative Requirements <br />for Grants and Cooperative Agreements to State and Local Governments”, OMB Circular A-87, <br />“Cost Principles for State, Local and Tribal Government”, and Generally Accepted Accounting <br />Principles (GAAP). <br />OBJECTIVE: <br />These policies and procedures are intended to foster stewardship of the public <br />trust through adherence to ethical and professional standards associated with grant related <br />activity. Adherence to these policies and procedures will promote efficiency, better <br />transparency, a greater accountability, a strategic approach to funding opportunities, and <br />generally place the City in a more competitive position for securing grant funds. <br />POLICY: <br />Grant related revenue and expenditures shall be authorized, within policy, and <br />properly accounted for according to local, State and Federal regulations, legal requirements, <br />underlying agreements, program objectives, and the terms and conditions of the grant award. <br />GRANT TYPES: <br />Block Grants <br />– a broad intergovernmental transfer of funds or other assets by the U.S. <br />Congress to state or local governments for specific activities such as secondary education or <br />health services, but with few restrictions attached. Block grants are distributed according to <br />legal formulas defining broad functional areas such as health, income security, education or <br />transportation. They are used for a variety of activities, largely at the recipient’s discretion. <br />Competitive (Discretionary) Grants <br /> – an award of financial assistance in the form of <br />money, or property in lieu of money, by the Federal government to an eligible grantee, <br />usually made on the basis of a competitive review process. <br />Cooperative Agreements & Contracts <br /> – a type of Federal assistance; essentially, a <br />variation of a discretionary grant, awarded by a Federal agency when it anticipates having <br />substantial involvement with the grantee during the performance of a funded project. <br />Formula Grants <br /> – a grant that the Federal agency is directed by Congress to make to <br />grantees, for which the amount is established by a formula based on certain criteria that are <br />written into the legislation and program regulations; this funding is directly awarded and <br />administered in the Federal agency’s program offices. <br />Pass-thru of any grant type <br /> – grant funds received from one grantor, but passed through <br />another grantor or funding source. <br />Reimbursement Programs <br /> – a type of funding program under which the grantee is <br />reimbursed for qualifying expenditures already incurred, as specified in the terms of the grant <br />agreement for such a program. <br />Financial Policies and Procedures Manual 10/2008 <br />I_Grant Management.docx <br /> <br />