# Financial Administration of Federal Grants Course (Self-Paced)

Canonical URL: <https://www.graduateschool.edu/courses/financial-administration-of-federal-grants-course-self-paced>

## Overview

Financial Administration of Federal Grants is a two-day, recipient-focused course that provides a comprehensive understanding of how federal grant funds must be managed from award acceptance through closeout. The course examines the financial requirements embedded in federal regulations and award terms and translates them into day-to-day financial administration practices.

Participants learn how to establish and operate financial management systems that meet federal standards, manage allowable costs, track expenditures, draw down funds appropriately, and maintain documentation that withstands audit and oversight review. The course emphasizes preventing common financial management failures that lead to questioned costs, audit findings, and repayment obligations.

Through practical examples, case-based exercises, and applied discussion, participants strengthen their ability to manage federal funds responsibly while supporting program delivery and organizational sustainability.

## What you'll learn

- Explain recipient financial management responsibilities under 2 CFR 200
- Establish and maintain financial systems that meet federal standards
- Distinguish allowable, allocable, and reasonable costs in practice
- Manage budgets, expenditures, and cash drawdowns accurately
- Apply procurement and internal control requirements to financial transactions
- Maintain documentation that supports cost allowability and allocability
- Identify financial red flags that lead to audit findings and questioned costs
- Respond appropriately to monitoring reviews and audit inquiries
- Prepare for financial closeout and record retention requirements
- Demonstrate financial administration practices that protect federal funds and organizational credibility

## Curriculum

h4\> Module 1: Financial Management Requirements for Recipients

- Identify recipient financial management responsibilities under 2 CFR 200.
- Understand required financial system standards.
- Recognize common financial management failures.

#### Module 2: Budgeting and Award Financial Setup

- Interpret approved budgets and award financial terms.
- Establish grant accounts and cost centers.
- Align budgets with program operations.

#### Module 3: Allowable Costs and Cost Principles in Practice

- Apply allowability, allocability, and reasonableness standards.
- Identify unallowable costs and common mistakes.
- Document cost decisions defensibly.

#### Module 4: Internal Controls and Segregation of Duties

- Understand internal control requirements for recipients.
- Identify risks related to weak controls.
- Implement practical control activities.

#### Module 5: Procurement and Financial Transactions

- Apply procurement standards to purchasing decisions.
- Distinguish procurement from subawards.
- Manage vendor payments compliantly.

#### Module 6: Cash Management and Drawdowns

- Manage payment systems and drawdowns correctly.
- Avoid cash management violations.
- Reconcile drawdowns to expenditures.

#### Module 7: Financial Reporting and Monitoring

- Prepare accurate financial reports.
- Reconcile financial and program data.
- Respond to monitoring requests.

#### Module 8: Audit Readiness and Financial Documentation

- Identify documentation auditors expect to see.
- Prepare for Single Audit or program-specific audits.
- Address audit findings related to financial management.

#### Module 9: Managing Changes, Corrections, and Adjustments

- Handle budget revisions and prior approvals.
- Correct errors and mischarges appropriately.
- Maintain defensible audit trails.

#### Module 10: Financial Closeout and Record Retention

- Complete financial closeout requirements.
- Resolve final cost issues.
- Apply record retention rules.

## Pricing

**Tuition:** $1050