Grant Administration System
The Grants Administration System can be utilised by any Charity or grant making body to administer and control grants and programmed related investments (loans).
• Time and cost savings through improved administrative processes
• Transparency of information for the trustees and management
• Improved financial control to SORP 2005, FRS12 and FRS17 standards
The system is based on Global OneOffice 3000 Financial Accounts. It can operate as a stand-alone system or integrate with another database such as Raisers Edge.
Grant requests are entered into the system; these can be entered manually or imported for initial data take-on.
Normally after contact with the beneficiary, perhaps by a volunteer or welfare worker, additional information on the grant request will be entered into the system.
The system then produces a detailed report on these requests for consideration of a grants committee.
Draft or final approvals are entered into the system as a result of grant committee decisions, so an up-to-date picture of each case is always available.
The individual beneficiary records are updated, the system generates decision letters to beneficiaries and to volunteers and welfare workers if required and final approvals are also automatically committed into the accounts, as Grants Payable Expenditure on the SOFA and Commitment to Beneficiaries on the balance sheet.
The system then handles grant payments, whether regular or one-off emergency payments, either by bank payment or cheque, directly to the beneficiaries or via third parties.
Completely electronic payments, generated directly into the banking system supported by an e-mailed remittance advice, are a particular time saver. Regular payments are prepared automatically; one off payments are checked and made against approved grants. In any case the system is ensuring that payments are being made only against approved grants.
The results of grant payments are also being fully accounted for in the accounts, reducing the commitments already posted.
At any time the system can report on the current position either by beneficiary or overall, comparing grants approved against grants paid out, with the ability to provide a full reconciliation between the individual beneficiary records and the final accounts. Tolerances are allowed for small overpayments.
The system also accounts fully for grants approved but not taken up, writing these back into the accounts.
Loan requests are handled similarly. They are submitted to the grants committee for approval, and when paid are entered onto the beneficiary's individual records, as are loan repayments. Total figures are automatically transferred into the final accounts.
All transactions are fully recorded in the financial accounts with a Statement of Financial Activity to SORP 2005 standards and Balance Sheet. The system produces many other reports:
• Committed Grant Balance Report by Beneficiary
• Grants Analysis by area/branch
• Grants Analysis by type
• Grant Over/Underspend analysis
• Loan (PRI) Balance Report
For further detailed information please contact us: