Financial Reporting

Financial Reporting Guidelines

Grant subrecipients must follow these requirements when submitting financial reports:

• Submit a financial report each quarter, even if you are requesting $0 in reimbursement.
• Submit the report by the 30th day of the month following the end of each quarter. If the project ends outside the regular quarterly reporting cycle, submit the report by the applicable project end date.
• Report actual expenses incurred, not estimated expenses.
• Do not spend more than the amount available in your approved budget. Review your current budget notice in the Grants Management System (GMS) before making expenditures.
• If you submitted a financial report electronically and it has not yet been approved, contact your fiscal specialist or the IT Support team to have the report returned to you for corrections.
• If an electronically submitted financial report has already been approved, you must submit a revised financial report manually. Follow the instructions below for submitting a revised report.

Instructions for Revised Financial Reports

If an approved financial report needs to be corrected, follow these steps:

1. Download and print the approved report.
   Download the financial report from the Grants Management System (GMS) and print a copy.

   

2. Mark the report as revised.
   Clearly write "REVISED" across the top of each report that needs to be corrected.

3. Cross out the incorrect amounts.
   Draw a line through each amount or total that needs to be changed. Do not use correction fluid or otherwise cover the original amounts.

   Review and correct all affected fields, including:

   • Grant fund and match amounts
   • Total amounts
   • Reimbursement amount
   • Previously reported amounts
   • Amounts expended during the reporting period and to date
   • Remaining project funds
4. Enter the corrected amounts.
   Write the full corrected amount next to each amount you crossed out. Do not enter only the difference between the original and corrected amounts.
5. Sign and upload the revised report.
   • Sign the revised report.
   • Scan the signed report.
   • Upload the scanned document to the Documents tab in GMS.

6. Notify your Fiscal Specialist.
   Email a copy of the revised report to your Fiscal Specialist.

   Include the following information in the email subject line:

   • Subaward number
   • Revised Financial Report
   • Reporting period end date

   Example: 1234 – Revised Financial Report – Period Ending 09/30/20XX

Need Help?

If you have questions about revising a financial report, contact your Fiscal Specialist.