Delivering key functionality for K-12 schools to find additional Grants Funding

GrantsNow delivers key functionality for K-12 schools to find additional Grants Funding and ensure effective management and compliance with a Grant Funder’s requirements.
1.Grant Funding Opportunities and Applications:
Identify grant opportunities that align with the school’s needs and objectives.
Review grant guidelines, eligibility criteria, and deadlines.
Develop a comprehensive grant application that outlines the school’s goals, activities, budget, and expected outcomes.

2.Grant Award Acceptance:
Upon successful application, review and accept the grant award.
Understand the terms, conditions, and reporting requirements associated with the grant.

3.Grant Budget Development:
Develop a detailed budget that aligns with the grant’s objectives and guidelines.
Allocate funds for personnel, supplies, equipment, professional development, and other allowable expenses.
Automated workflows for review and approvals of Grant budget, to reduce manual interventions and duplication of effort.

4.Financial Management:
Establish accounting procedures to track grant funds separately from other school funds.
Monitor expenditures to ensure compliance with the approved budget.
Maintain accurate records and reporting of financial transactions related to the grant.

5.Reporting and Compliance:
Prepare and submit required progress reports, financial reports, and other documentation as specified by the grantor.
Monitor project performance and outcomes to assess progress towards grant objectives.
Comply with all reporting deadlines and requirements to maintain grant funding.

6.Monitoring and Evaluation:
Implement an evaluation plan to assess the impact and effectiveness of the grant-funded activities.
Collect and analyze data to measure outcomes and achievements.
Use evaluation findings to inform program improvements and future grant applications.

7.Grant Closeout:
Complete all final reporting and documentation as required by the grantor.
Ensure that all funds are expended and accounted for appropriately.
Close out the grant according to the grantor’s guidelines and procedures.
Throughout these processes, effective communication, documentation, and adherence to grant guidelines are essential for successful grant administration in K-12 schools.
Compliance with regulatory and reporting requirements ensures accountability and transparency in the use of grant funds to support your educational initiatives.

Shortform version:

GrantsNow is a Grant Funding Management solution built on the Oracle Cloud PaaS, covering the entire Grants Administration project journey, including:

Identifying funding opportunities from leading Funders and applying for competitive bids
Costing & Pricing for preparing proposals for submission to Funders
Handling ethical review and approval processes.
Accepting Grants Awards and adjustments prior to sending it to your finance system.
Contract document management, negotiation, approval workflows & digital signatures.
Full Reporting suite for KPI metrics management & analytics to make informed decisions.
Post Awards Reporting and budget monitoring for awards
Handling the “claims” process for each individual school to apply for their allocation of a funding award
Ongoing budget monitoring to deliver accurate reporting to Funders & Donors on utilisation of revenues.

The system has been designed to seamlessly integrate via APIs with the current IT infrastructure of any institution, to maximise the efficiency of managing all aspects of your Grant funded projects.

(Separate notes for Post Awards – IGNORE for the moment!)

Setup Activity/Project segment in Chart of Accounts
Setup Cost Centre/Dept relation to Activity/Project
Setup Customer/sponsor
Create Billing cycle to receive funds
Setup Budget for Cost centre/School for Activity or Project
Allow Purchase orders against project/Activity for the cost centre
Payroll costing distribution to Project to track Salary Expenditure
Employee Expense Reports against Project/Activity for the cost centre to track expenses
Create Budget Vs Actual Vs Forecast (Est) Reports