What Land Trusts Need to Know When Accepting Federal Funds

You just received a big federal grant — great news right? Yes, but managing federal funds can be complex and your land trust needs to be prepared. Hint: You need to understand the requirements for managing federal funds, whether your land trust receives them directly from a federal agency or through an agreement with another governmental or nonprofit entity.

Join financial expert Kay Sohl as she discusses the essentials for managing federal funds, including when your land trust will need to have an expensive and potentially time-consuming Single Audit and when to establish more sophisticated fiscal policies and procedures even if such an audit is not required.

Here’s a look at what we will cover:

• Distinctions between grants, awards, cooperative agreements and contracts and the rules that come with each
• How to deal with federal funds transferred at closings for easements or land purchases (or why it doesn’t matter whether the federal dollars actually flow through your bank accounts)
• Cost allocation plans and recovering administrative and/or indirect costs
• Subcontracts or sub-recipient agreements — understanding your responsibilities if you pass federal dollars through to other entities