Grants in NORMA exists in a couple of different versions. At any time, you can identify the version of the grant by opening the application/grant and looking at the upper right hand corner.
Version 2.0 (Approx. pre 2022)
- Financial Reporting on Payments
- If a grant is setup with financial reporting, the financial report for a given payment will trigger one year after the payment is made
- The financial report can be re-scheduled after the payment is made
- Subsequent payments cannot be released if there is a pending financial report for a previous payment
- Change Requests are used to make budget revisions (“Make significant budget changes”) and other changes to the grant.
- Final Financial Report process is used for grant closure. The administrator must specify how much they spent.
- The Final Financial Report is created when the last payment or financial report is completed
Version 3.0 (Approx. 2022 onwards)
- Financial Reporting on budget
- Financial Reports are created for either each project year of the grant (Annual) OR one for the whole grant (Single).
- Annual Financial Reports cover the previous 12 months. Single Financial Report encompasses the whole grant period.
- Payments cannot be released if there is a pending financial report for a previous year
- Change Requests are used to make changes to grant (end date, administrator, etc.)
- Budget Revisions are used to revise the budget if needed, and/or following financial reporting
- Grant Closure Report process is used for grant closure. The administrator must confirm reported values and upload supporting documentation or audit report (if required)
- The Grant Closure Report is created when the last or single Financial Report is approved
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