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SIX KINDS OF FINANCIAL REPORTS COMMONLY
SUBMITTED WITH GRANT PROPOSALS
1. Project budget
- What is the organization trying to do?
- How will the project be structured, staffed and managed?
- Based on what you know about similar projects, do the expenses seem reasonable?
- Are the plans for income realistic?
- Are the expenses and income consistent with the program described in the narrative?
- Does the budget reflect cash flows?
2. Organization-wide budget
- How does the proposed project budget fit with the organizational budget? It is in or out of proportion with total costs and income?
- Does the organization as a whole have appropriate income streams and a realistic budget that adequately covers core operating costs?
- How is the budget constructed? Does it reconcile with expected cash flows? How are temporarily restricted funds handled?
- How does the organization monitor budget to actual?
3. Recent financial statements
- Is the organization able to issue timely internal financial statements?
- Are they any areas significantly different from the organizational budget or previous financial activity? If so, what are the implications?
4. Audit
- Does the organization need an annual audit? Does it have one?
- Has the auditor issued and “unqualified opinion” showing that the organization’s financial statements are fairly presented?
- Does the audited balance sheet indicate a sufficiently stable financial context for the project to succeed?
5. Federal Form 990
- Has the organization filed a Federal Form 990?
- Do you feel comfortable with the proportions of program, management and general expenses and fundraising costs?
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