Grant Phases

All grant-funded projects, be they government or foundation funded, generally go through three phases –award, post award (active project), and closeout.


AWARD
The “award phase” happens when the funder notifies you that you have received an award and the funder finalizes a funding agreement.

Some funders require the award notification be countersigned by the grantee. In these cases, the award notification should be sent to Excelsior’s Legal office for review and signature.  Following this the funds are disbursed.

After the award has been disbursed, the program manager at the funder oversees the awardee’s reporting compliance. The process extends across the life of the grant award and will involve multiple reports.

Within the award letter there are rules dictated by the private funder and/or policies relevant to legislation. The award recipient is responsible for meeting the administrative, financial, and programmatic reporting requirements of the award. The Grants Office will work closely with the project team to meet all responsibilities.


POST AWARD
Within the “post award phase” (that is, once the award has been received and the project work begins) representatives from the funder may perform on-site visits with your project director and implementation staff. Oversight may also occur in the form of auditing. Reporting consists of regular financial reporting and programmatic reporting that provide information about the overall financial status and program performance of your project. Please keep this in consideration, particularly if some project staff are only paid through the life of the award. A grant specific project manager is not likely to still be working at Excelsior for the final reports in the closeout phase.

After the award has been disbursed, the Grants Office will coordinate with the project team and internal departments at Excelsior to assist in moving the project forward on time and within budget. The project team can expect to have regularly scheduled Budget & Project Update meetings with Grants, Fiscal, and key project players. This internal control not only assists in keeping everyone on the same page, but also gives the opportunity to collaboratively work out any potential issues.


CLOSEOUT
The “Closeout” step is where the grant process ends. In order to complete a closeout, the project director will work with the Grants and Fiscal Offices to submit financial and programmatic reports (often 30 – 90 days after the grant award expires or is terminated). The grant is officially over when the funder confirms that all grant work and applicable administrative tasks are complete. This process can take several months if there are financial concerns or questions, or if you acquired property using grant funding (which may be returned to the agency, if requested). Please keep this in consideration, particularly if some project staff are only paid through the life of the award. A grant specific project manager is not likely to still be working at Excelsior for the final reports in the closeout phase.

You are required to retain all of your grant records, including emails, for at least four years from the date of the final expenditure report, unless otherwise specified by the project’s funder.