Funding Agreements, Reporting, and Acquittals

Funding Agreements

Part of a comprehensive grants strategy for any organisation is knowing what to do with a grant when you win. Applications can be a gruelling process, and even after submission, it is often months before you’ll hear an outcome. So, before you start applying for grants en masse, it is critical that your organisation is set up to handle grants agreements; to understand what they are, what you’re committing to and how to curate healthy relationships with your funders!

In this article, we’ll look closely at what funding agreements look like, what’s involved in the execution process, common reporting requirements and how to submit a timely and satisfactory acquittal. First off…

Funding Agreements

What is a funding agreement?

A funding agreement can be considered similar to any other contract or agreement between two parties; in fact, they are legally binding you and the funder to the intended purpose(s) for the funds you have received. Typically, the details within a funding agreement won’t come as any great surprise and will be consistent with what you said you would accomplish in your grant application as well as the grant guidelines you read before applying.