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IS THAT THE END OF THE MATTER OR DO WE NEED TO MONITOR HOW THE FUNDS ARE SPENT?
For very small grants given without conditions being attached, the process may stop at this point. However, for grants of any size or where conditions were applied, the charity trustees have an obligation to ensure that their charity’s monies are being used by the intended recipient for the purpose intended and in a manner consistent with the charity’s objectives and ethos. Such continued monitoring may include some or all of the following:
Ÿ Regular reports from the grant recipient and/or specialists o Narrative
o Financial
o Specialist progress reports – for example, from surveyors in the
case of construction projects
Ÿ Interviews/meetings with the recipients
Ÿ Site visits to the projects being funded – especially in the case of large donations/grants and capital projects
Ÿ Con rmation of compliance with conditions imposed
Where concerns are raised as a result of the monitoring activity, the charity trustees must be prepared to cease or postpone the charity’s funding until such time that they are happy that the charity’s funds are being used in an appropriate way consistent with the original terms and conditions of the grant.
The monitoring of projects and the use of grants by recipients is another example of where a carefully designed checklist can ensure consistency, proper recording and fairness and transparency at all stages.
Regular reports are essential for all but the smallest grants.
WHAT RECORDS
DO WE NEED TO KEEP?
As a minimum the following needs to be kept in respect to grants and the decisions made:
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