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In the past thirty years, the giving and receiving of grants has grown from a small, loosely organized club involving a few elite institutions and a few million dollars to a massive system accounting for more than $75 billion in annual expenditures and involving literally thousands of public and private organizations. This growth has resulted in the formation of a major social and economic system with its own rules and network of institutional relationships. This book analyzes the grant system in its entirety--its history, scope, social and economic impact, importance, and future. This broad approach serves as a good introduction to the grant system for those who are not familiar with it and provides a new, fresh perspective for those who know some aspects of it well.
This paper presents a preliminary manual for "A System of Grant Accounts", so that, if the system is implemented by statistical agencies, a reliable database on grant transactions can be developed and made available through official publications for economic analysis. The manual outlines the System of Grant Accounts (SGA for short) and covers concepts, classification, a framewok and procedures needed to compile grants data at the macro level for the four main sectors of the economy (i.e., Persons, Business, Government and Non-Residents) and summarizes the sectoral transactions into a set of nine standard analytical tables. These tables are aimed at producing sectoral grants data showing the gross and net flows for both domestic and international transactions of the economy. They will help to answer crucial questions such as who is giving grants, who is receiving them, and what is the net outflow from the donors to the donees. The manual also introduces a new approach of analyzing grant net flows by a Grant Originating formula (GO for short) and applies it to the four sector model. The four sector model used here is the same as the one used in the System of National Accounts, so that consistency in the sectoral data can be maintained between the exchange economy measured in the System of National Accounts (SNA) and grants economy measured in the System of Grant Accounts (SGA). The two systems are complementary to each other and they represent the total macro-economic analytical framework by providing vital statistical information to researchers regarding exchange economy on the one hand in the SNA and about the grants economy on the other hand in the SGA. The availability of database for the total economy as well as for the grants economy within a constant sectoral framework will enable researchers to focus more attention to the grants and their analysis. The database will also be useful to the policy makers to evaluate the effectiveness of the income redistribution transactions in the economy
The purpose of this paper is to demonstrate that there is an urgent need for an exclusive System of Grant Accounts to define, classify and organize grants into appropriate tables for analysis. Such a System of Grant Accounts should facilitate the availability of grants data in a central source within a consistent and systematic framework.
Donors, grantors, boards of directors, and regulators all expect a full accounting of how your organization uses money. Fund accounting is an accounting method that groups assets and liabilities according to the functional purpose for which they are to be used. It keeps restricted and unrestricted funds separate for nonprofit accountability and management. You will be able to manage, prepare and maintain fund balance reports manually or with a computerized accounting system. Prepare for A-133 audit requirements of some non-profit organizations depending on size of federal funding, and prepare and support grant fund allocations for funding sources. You will also learn to provide fund reports to management, auditors, funding sources and the board of directors, work with the executive director and project managers in understanding the financial aspects of the program and become aware of the need for budget revisions. Most all Funding sources (Grant providers) have very specific reporting requirements in accounting for funds you have received from their sources. These funds are generally obtained from a Federal, State, Local government and/or private sources designating your funding as the administrator of these grants. The skills and information you will get from this guide will help to ensure you are prepared for your A-133 Audit, provide documentation of receipts and expenditures for your funding sources, provide the organization with invaluable information on the performance of your programs, and help to determine when budget revisions are required. Accurate accounting for funds received can be a determining factor in ongoing funding for your programs; therefore, it is imperative that the methods used to account for grant funds received are in compliance with the guideline set by the governing entities and/or funding sources in the case of restricted funds received from private donors. As an accounting professional, executive director, board member or project manager you will greatly benefit from the information contained in this guide. Included are worksheets that you can use for your organization or use to prepare preliminary information to be transferred to an electronic system of accounting and document maintenance such as Excel or Word and others.