Grant Administration

Have or administer an existing JSMF grant? You're in the right place.

Financial Report Requirements

The grantee institution's financial office is responsible for submitting a report of expenditures of the grant's financial status every year, received by the Foundation no later than 30 days after the close of the annual budget period on all awards. The report should list itemized actual expenditures for the project by category using the approved budget. A standardized financial reporting form is accessible from this section of the website.

Where an unobligated fund balance remains at the end of a budget period, the funds can be 'carried-forward' to the next budget period without a formal request for approval to the Foundation. A revised budget is needed if carryovers exceeding 25% of an approved budget category will be reallocated differently from the approved budget. Please also note these reporting conditions:

  1. Only reports certified by a finance official of the grantee organization are acceptable. Expenditure reports from foreign institutions must show foreign currency converted to U.S. dollars.

  2. Any reallocation of grant funds exceeding twenty-five percent (25%) in variance of a category (or sub-category) line item in the approved budget must receive approval of the Foundation. Include a statement for the over expenditure along with the financial report.

  3. Unexpended grant funds revert to the Foundation at the end of the grant, unless a "no-cost extension" has been requested and approved.

  4. A no-cost extension may be requested by the grantee institution to continue the research project when there are unexpended funds remaining near the close of a grant period and/or for other reasons to continue the research as funded. Submit a formal request referencing grant number, reason for extension, funds remaining, the original grant period, and the "extended to" date. Include a revised budget itemizing the reallocated funds and a brief justification. Extensions may be requested and will only be reviewed three (3) months prior to the close of the grant period, and are generally granted for terms of an additional 3, 6, 9, or 12 month period.

The financial report and no-cost extension requests should be sent by email to Cheryl Washington, Grants Manager. Consult the grant contract for contact information.

Failure to submit required reports within the time allowed may result in suspension or termination of an active grant, withholding of additional awards for the project, or withholding subsequent payments.