Tag: grants

Carryover Complications

Say a school is allotted $20,000 (with carryover allowed) and they only spent $15,000.  The carryover amount is: a) $5,000 b) something else Often the answer is b) “something else” This is because the central office will usually give the school site the net award amount – i.e. the award minus the indirect cost on the

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Grants, Entitlements, and Carryover

When I started working at a California school district one of the first things I had to learn was the difference between a grant and an entitlement. A few years ago the state accounting manual was revised to refer to funding sources (resources) as either those with a fund balance or those with unearned revenue and no fund balance.

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Grant Carryover: An Ounce of Prevention

I have a short term assignment at a new district.  When working with grants that carry over year after year it is a great idea to check that the “carryover” amount is correct.  I did a quick check yesterday on two grants and found in fact the carryover was not correct on either of them. For the

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Calculating Indirect Costs – The “Magic” Formula

Question: Your district has received a grant for $100,000.  The indirect cost rate is 5%.  What is the indirect cost amount for this grant? Answer: a) $5,000 b) Something else And, the answer is ….. b) Something else Explanation: The real question here is, how much of this grant can you spend on items other

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