Accounting and Financial Reporting

10 Steps to Managing Grants Effectively

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Grants are an important source of revenue for many governments and allow investments in infrastructure, development of programs, and results for the community that otherwise would not be possible using local sources alone. Grants are not simply “free money,” though, and if governments don’t fully understand grant requirements, they can be a source of frustration and, in the worst-case scenarios, could end up actually cost you money and create regulatory compliance issues and legal challenges.

To help your organization manage its grants effectively, GFOA has developed the following ten steps, which are based on its best practices Grants Administration and Establishing an Effective Grants Policy. You can use these ten steps as a checklist to develop a grants management policy and procedure for your organization.

  • Publication date: April 2023