This form is required of nonprofits who’ve received grant funding. Although many reports must be submitted to the federal grantor, this one is by far the most important. It is known as the Financial Status Report.
Basically, it informs the grantor how much of the grant money was spent during the current quarter versus previous quarters. It reveals how much money is still left in the grant budget. This report is due quarterly and also when the grant period is over.
Financial Status Reports are available in two forms: a short from (SF-269A) and a long form (SF-269). The grantor will specify which is required for each particular nonprofit. Traditionally, it necessitates 90 minutes for completion.
Forms should be submitted electronically or by fax. Filing them online will expedite the process. However, for extra assurance, the organization may file them both ways.
Details of Financial Standard Form 269
- Items 1-9 cover general information like the awarding agency, the name of the recipient organization, its account number, the grant period and period covered on the form etc.
- Item 10 contains 3 columns for transactions-
- Column 1: Previously Reported. This represents the cumulative amounts from the previous reports. If this is the first report, then the amount is zero.
- Column 2: This Period. This shows the current amount spent during the current reporting quarter.
- Column 3: Cumulative. This is the sum of the Previously Reported amount and the amount reported in This Period.
Specific transactions are then broken down into categories. Enter the amount of the transaction in one of the first two above columns and then enter the cumulative total for that category in the third column.
- Item 11 deals with checking the appropriate type of indirect cost rate.
- Item 12 is for any additional remarks.
- Item 13 is for the official certification by the director of the organization. If it is isn’t signed, an auditor will write up the organization.