Grant Writing Post-Award Grant Management Questions and Answers Flashcards
6 cards from real Grant Writing practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Grant Writing Post-Award Grant Management Questions and Answers flashcards as text
During a Single Audit, which finding would be classified as a material weakness?
Answer: Lack of segregation of duties allowing one person to authorize and record grant expenditures
A material weakness is a deficiency in internal controls severe enough that there is a reasonable possibility that a material misstatement will not be prevented or detected in a timely manner.
What is the key difference between a no-cost extension and a supplemental funding request?
Answer: A no-cost extension adds time without additional funds while a supplemental request seeks additional money
A no-cost extension extends the project period to allow more time to spend existing funds, whereas a supplemental funding request asks the agency for additional money.
Which method of accounting is generally required for federal grant recipients?
Answer: Accrual or modified accrual basis
Federal regulations require grantees to use accrual or modified accrual accounting to accurately reflect financial activity during the reporting period.
What is the correct procedure when a grantee discovers it has been overpaid by the federal agency?
Answer: Return the excess funds promptly and notify the awarding agency
Grantees must promptly return overpayments to the federal agency and report the discrepancy to maintain compliance with cash management requirements.
Which document formally authorizes changes to the scope of work on a federal grant?
Answer: An approved grant modification or amendment from the awarding agency
Changes to the scope of work require a formal grant modification or amendment approved by the federal awarding agency before implementation.
What is the primary risk of commingling grant funds with other organizational revenue?
Answer: Inability to accurately track and report grant expenditures separately
Commingling makes it impossible to verify that grant funds were spent only on allowable, allocable costs, which can result in audit findings and required repayment.