Federal grant programs can provide much-needed financial relief to state and local governmental entities and not-for-profit organizations. However, grant recipients must administer programs and spending in accordance with the provisions of the Uniform Guidance as well as individual program regulations. These provisions include:
• Establishment of adequate internal controls over compliance
• Documentation of policies and procedures for determining allowable costs
• Accurate financial reporting of grant and program activity
• Monitoring of subrecipients and contractors
• Implementation of anti-fraud, waste, and abuse processes
The risks of non-compliance include the loss of available funding, the cost of resources necessary to address audit findings and implement corrective measures, financial loss due to fraud or mismanagement, and reputational damage.
How We Help
From pre-award to post-closeout, P&N understands the grants management process. We have the experience to help you design efficient processes and navigate complex compliance requirements. We provide guidance related to grant program compliance, advise in the establishment and documentation of internal controls, prepare or design processes for grant distribution and requests, provide financial reports, conduct subrecipient monitoring, and recommend process improvements while maintaining a focus on the appropriate, transparent, and efficient distribution of funds.
P&N offers a team of accountants, auditors, internal controls specialists, fraud examiners, project managers, and others with a deep understanding of the public sector and its unique challenges.
Additionally, because of our extensive experience as auditors of federal programs in accordance with the Uniform Guidance, we are keenly aware of these requirements and what your auditor will be looking for and can offer assistance to help you mitigate the risk of audit findings related to your grants administration processes.
Our services include:
- Assistance with the application process
- Internal control assessment, review, and documentation
- Preparation of claims and reimbursement requests
- Establishment of accounting processes for tracking allowable costs
- Subrecipient monitoring and closeout
- Program design and execution
- Preparation of indirect cost rate proposals
- Financial and performance reporting
- Fraud, waste, and abuse detection, prevention, and monitoring