On the five-point scale in our grant readiness assessment, organizations exceptional (5) with their accounting system:

• Have an automated accounting system;
• Program managers regularly review expenditures and budget balances for accuracy;
• A system that identifies the receipt and expenditure of program funds separately for each grant or contract;
• A system that records expenses to specific cost categories in the approved budget;
• A system that allows for the comparison of expenses with budget amounts;
• A system that generates accurate and reliable reports;
• Top management reviews expenditures and budget balances for accuracy;
• A system that prevents spending in excess of (1) total funds available and/or (2) total funds available in individual expenses categories;
• A system that prevents expenditures after grants close; and
• A system that can segregate direct and indirect expenses.

Download the complete grant readiness assessment.