Grant Administration Guidelines
- After the grant agreement has been signed by both parties, a completed Check Transmittal Form (enclosed) should be sent to the Hudson River Foundation (HRF).
- Upon receipt of the completed Check Transmittal Form, HRF will advance the first payment listed in the payment schedule that was sent to the grantee with a signed copy of the grant agreement.
- When expenditures under the grant equal or exceed the advanced amount, an Expense Report/Advance Request form should be completed and sent to HRF. HRF provides the first of a series of customized forms for completion by the grantee when a copy of the signed grant agreement is sent. HRF will provide a customized form for subsequent submittal when each new payment is made. (A blank form is enclosed in this packet, however, the grantee should only use it if the customized form is not available.)
- The payment schedule for each grant is based upon the total grant amount. Therefore the Expense Report/Advance Request statements will provide an accounting of expenditures for the total project budget. There is no need to segregate expenditures for any given year in this reporting.
- If reports are filed promptly, the number of reports should equal the number of payments on the payment schedule.
- The final scheduled payment will be retained by HRF pending the submittal of a satisfactory final technical report and a final financial statement.
- Expense Report/Advance Request forms should be sent to:
Hudson River Foundation
17 Battery Place
New York, NY 10004
ATTN: Dr. Dennis J. Suszkowski
Note: All payments are contingent upon the demonstration of satisfactory progress by the Principal Investigator(s) during the grant period.
FINAL FINANCIAL REPORT
At the end of the grant period a final financial report must be submitted consisting of either (1) an unaudited final statement submitted as the last payment request on the Expense Report/Advance Request form, accompanied by a notarized letter from the Chief Financial Officer stating that the final expense report is accurate and that the grant was managed in accordance with standard accounting procedures, or (2) an audited financial report.
FINAL TECHNICAL REPORT
All grants require that a final technical report be submitted at the end of the grant period. For detailed instructions and formatting requirements regarding final technical reports, please click on the link above titled "Final Report Instructions."
If any equipment is purchased under an HRF grant and is valued at over $500, an Equipment Inventory Record (enclosed) must be filed with the Financial Report.
It is possible that in the course of a project, adjustments to the budget will be required. Written permission must obtained from Dr. Dennis Suszkowski, Science Director, for any changes in line items that exceed 15% of the total amount for that line item (based upon the budget for the total project), with the exception of the indirect cost line. Unless previously agreed, the maximum indirect cost rate the Foundation will pay is 15% of the modified total direct costs. When requesting changes to line items in the budget, a revised budget sheet must be completed on the Request for Budget Revisions form enclosed. It should reflect changes to the total project budget, not individual-year budgets in the case of multiple-year grants.
FOR FURTHER INFORMATION
Call Dr. Dennis Suszkowski, Science Director at 212.483.7667 or Fax 212.924.8325.
Revised June 2003.