Typically, reporting periods are quarterly. Evidence of spend, invoices, payslips and timesheets will need to be collated. Some funders require an independent audit from an accountant in the first and last quarters of a live project. Your business will need to present a technical update, financial claim and attend a meeting (online) with your assigned project monitoring officer. At the point that a grant is approved for funding, you have the chance to:
- Adjust the project plan (in particular, the due dates for deliverables) – your chance to delay some key technical deliverables if appropriate
- Set the Spend Profile for the project – your chance to frontload some of the costs if suitable
- Setup a document that will form the basis of your technical and financial claim every quarter – your chance to create a template that can be used throughout the project
