Nonprofit Grant Tracking and Fund Accounting Ledger Review
Grant tracking errors and restricted fund mismanagement can trigger grant claw-backs, audit findings, and funder relationship damage. This monthly ledger review ensures all grant funds are properly tracked, expenditures reconciled, and restrictions honored per FASB and OMB requirements.
- Industry: Nonprofit
- Frequency: Monthly
- Estimated Time: 2-3 hours
- Role: Grants Manager / Treasurer
- Total Items: 29
Grant Ledger Accuracy
Verify grant ledger entries are accurate.
- All active grants represented in grant ledger?
- All new grant awards entered promptly after award notification?
- Approved grant budget entered for each active grant?
- Grant period start and end dates entered and current?
- Reporting deadlines entered in grant management system?
Expenditure Reconciliation
Reconcile grant expenditures against budget and ledger.
- All expenditures properly coded to correct grant and budget line?
- Budget vs actual variance report reviewed for each active grant?
- Significant budget variances (>10%) investigated and documented?
- Unexpended grant balances reviewed and spending plan updated?
- No grant accounts showing over-expenditure without prior funder approval?
Restricted Fund Management
Verify restricted funds are properly managed.
- All restricted grants classified as with-donor-restrictions per FASB ASC 958-205?
- Specific restrictions for each grant documented in grant file?
- Restricted funds not co-mingled with unrestricted operating funds?
- Revenue released from restriction properly when restrictions satisfied?
- Endowment funds tracked separately with spending policy applied?
Cost Allocation and Indirect Costs
Verify cost allocation is proper.
- Negotiated indirect cost rate applied consistently to all applicable grants?
- Direct costs to grants documented with adequate supporting records?
- Personnel time records supporting grant payroll charges current and accurate?
- Subcontractor costs reviewed for allowability and adequately supported?
- No unallowable costs per 2 CFR 200 Subpart E charged to federal grants?
Cash Management and Drawdowns
Review grant cash management.
- Federal grant drawdowns timed to minimize excess cash on hand per 2 CFR 200.305?
- Interest earned on federal funds exceeding $500 returned to federal agency?
- Grant invoices and reimbursement requests submitted on schedule?
- Expected grant payments tracked and received per agreement terms?
Grant Closeout and Reporting
Manage grants approaching closeout.
- Grants expiring within 90 days identified and closeout plan initiated?
- Final financial and programmatic reports scheduled before deadline?
- Equipment purchased with grant funds reviewed for disposition requirements?
- No-cost extension requests submitted before grant end date if needed?
- Supporting documentation for all grant expenditures filed and audit-ready?
Related Nonprofit Checklists
- Nonprofit Donor Receipt and Acknowledgment Compliance Audit
- Nonprofit Annual Audit Readiness Review
- Nonprofit Annual Budget Development and Board Oversight
- Nonprofit Financial Internal Controls Annual Review
- Nonprofit Gift Acceptance Policy Compliance Review
- Nonprofit Monthly Financial Reporting Package
- Nonprofit Fundraising Event Planning and Compliance Checklist
- Nonprofit Volunteer Background Screening and Risk Assessment
Related Financial Management Checklists
- Nonprofit Donor Receipt and Acknowledgment Compliance Audit - FREE Download
- Nonprofit Annual Audit Readiness Review - FREE Download
- Nonprofit Annual Budget Development and Board Oversight - FREE Download
- Nonprofit Financial Internal Controls Annual Review - FREE Download
- Nonprofit Gift Acceptance Policy Compliance Review - FREE Download
- Nonprofit Monthly Financial Reporting Package - FREE Download
- Nonprofit Financial Policy Annual Review and Update - FREE Download
- Nonprofit Investment and Endowment Management Review - FREE Download
- Nonprofit Accounts Payable and Disbursement Controls - FREE Download
- Nonprofit Payroll Processing and Compliance Review - FREE Download
Why Use This Nonprofit Grant Tracking and Fund Accounting Ledger Review?
This nonprofit grant tracking and fund accounting ledger review helps nonprofit teams maintain compliance and operational excellence. Designed for grants manager / treasurer professionals, this checklist covers 29 critical inspection points across 6 sections. Recommended frequency: monthly.
Frequently Asked Questions
What does the Nonprofit Grant Tracking and Fund Accounting Ledger Review cover?
This checklist covers 29 inspection items across 6 sections: Grant Ledger Accuracy, Expenditure Reconciliation, Restricted Fund Management, Cost Allocation and Indirect Costs, Cash Management and Drawdowns, Grant Closeout and Reporting. It is designed for nonprofit operations and compliance.
How often should this checklist be completed?
This checklist should be completed monthly. Each completion takes approximately 2-3 hours.
Who should use this Nonprofit Grant Tracking and Fund Accounting Ledger Review?
This checklist is designed for Grants Manager / Treasurer professionals in the nonprofit industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.
Can I download this checklist as a PDF?
Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.