WHAT DOES A GRANTS ACCOUNTANT DO?

Published: Apr 26, 2025 - The Grants Accountant prepares journal entries, reconciles grant balances, assists in payroll account reviews, and supports the Controller in monthly financial closings. This role reviews and audits grant programs, cost transfers, budget revisions, and coordinates external grant-related audits with program managers and finance staff. This position provides grant reporting to the Tribal Council, advises on funding strategies, and ensures compliance with KIT policies, procedures, and confidentiality standards.

A Review of Professional Skills and Functions for Grants Accountant

1. Grants Accountant Details

  • Grant Management: Responsible for the preparation and submission of all grant reimbursements by due dates.
  • Invoice Compliance: Analyze, document, and review accounts payable invoices related to grants for compliance with grant requirements prior to payment.
  • Budget Analysis: Analyze time allocations compared with budgets and inform program managers of any deficiencies.
  • Proposal Preparation: Work directly with Workforce Advancement & Accounting staff to prepare grant proposals for federal, state, city, and/or private institutions by compiling financial data.
  • Data Coordination: Coordinate the gathering of all data and assist staff with the preparation of all monthly and quarterly performance reports.
  • Compliance Assurance: Assist with ensuring that all grants are in financial compliance with OMB Circulars and any other grant fiscal requirements.
  • Audit Support: Provide support during grant monitoring and annual audit, ensuring that all grants are in compliance with OMB Circulars and any other fiscal requirements.
  • Task Assistance: Assist with other accounting tasks and reconciliations.
  • Leadership Maturity: Exhibit maturity of practice consistent with being an organizational leader.
  • Document Collection: Gather and copy documentation for grants and contract billings.
  • Billing Preparation: Prepare all aspects of grants and contracts billing.
  • Receipt Coding: Code cash receipts as related to the grants and contract billings and prepare adjusting journals.
  • Receivables Reconciliation: Reconcile, collect, re-bill, or adjust accounts receivable.

2. Grants Accountant Responsibilities

  • Journal Preparation: Prepare journal entries on a routine basis.
  • Cost Reconciliation: Prepare closeouts/reconciliation of billable costs for contract period end.
  • Team Management: Hire, mentor, and develop Senior Grant Writer and Grants Coordinator.
  • Payroll Review: Assist in payroll account GL review.
  • Monthly Close: Assist the Controller in the monthly close process.
  • Grant Reconciliation: Reconcile grants to account balance sheets and income statements.
  • Budget Review: Review budget revisions for all grants.
  • Grant Reporting: Provide quarterly grant reports to the Tribal Council.
  • Program Audits: Perform monthly reviews of grant programs and audit all cost transfers, budget revisions, carryovers, closeouts, no-cost extensions, and drawdowns.
  • Grant Coordination: Provide routine feedback to program managers on grant proposals, coordinating accurate salaries for new positions, advising on KIT purchasing and travel procedures, indirect rate considerations, allowable match/in-kind contributions, and grant regulations.
  • Funding Strategy: Assist tribal programs with developing mid to long-range funding strategies and sustainability planning.
  • Audit Coordination: Coordinate all external grant-related audits - 2 CFR 200 annual audits and grantor audits between auditors, program managers, and finance staff.
  • Audit Preparation: Prepare grant work papers, schedules for external auditors.
  • Policy Maintenance: Maintain all KIT policies, KIT procedures, and strict confidentiality of all KIT information.

3. Grants Accountant Job Summary

  • Analytical Support: Provide analytical support with regard to grant budgets and compliance.
  • Grant Monitoring: Monitor/Review Delgado Community College's grants and professional service contracts to ensure they conform to Federal, State, and local laws and regulations, as well as the College's policies and procedures.
  • Risk Advising: Advise directors/executives of possible risks.
  • Process Guidance: Provide guidance to faculty/staff on processes, terminology, invoicing, and submitting of required up-to-date documents on professional service contracts.
  • Reimbursement Preparation: Prepare reimbursement requests and all supporting documentation for State and Federal grants such as CARES Act, Carl Perkins, Incumbent Worker Training, WIA, VUB, Title III, Board of Regents, and other grants.
  • Procurement Auditing: Proactively review/audit grant procurement processes, practices, and documents to identify weaknesses.
  • Audit Preparation: Prepare for external and internal audits to ensure all regulatory requirements are followed.
  • Accounting Support: Assist the Director of Restricted Funds with preparing the accounting portion of state and federal applications, preparing grant budgets, revisions, and reimbursement requests for the funding agencies.
  • Policy Interpretation: Ability to interpret grant regulations and policies to ensure grant compliance.
  • Judgment Application: Exercise independent judgment and make decisions on the allocability of expenses based on grant terms, regulations, and policies.
  • Expenditure Analysis: Analyze grant expenditures in all budget categories (personnel, supplies, equipment, contracted services, operating services, etc.) to ensure costs are allowable, allocable, and reasonable per the grant terms and requirements.
  • Budget Review: Review re-budgeting requests prior to internal approval and funder approval.
  • Code Assignment: Ensure expenditure requests are assigned appropriate accounting codes.

4. Grants Accountant Accountabilities

  • Transaction Analysis: Analyze accounting transactions and information to summarize the current financial position at the unit or organization-wide level.
  • Data Assembly: Construct and assemble data for decision making.
  • Conclusion Development: Develop conclusions and present a high-level summary of recommendations.
  • Proposal Preparation: Assist in the preparation of routine and complex proposals within the parameters of sponsored and non-sponsored research guidelines.
  • Document Coordination: Coordinate and compile proposal documents to review for completeness and compliance in order to upload to the sponsor submission system.
  • Partnership Collaboration: Work in partnership with the Research Management Group on final submission.
  • Backup Support: Serve as the back-up for the Pre-Award Research Grants Manager.
  • Budget Assistance: Assist in the preparation of the budget and budget justification for internal Stanford proposals and project budgets relating to center grants.
  • Material Support: Provide support to PIs for review of other required materials.
  • Point Contact: Serve as the point of contact between PI and the internal departments necessary to review/approve during the pre-award process.
  • Proposal Coordination: Serve as the point of contact between PI, RMG, and subcontracts for Stanford submitted proposals.
  • Award Tracking: Track status of pending awards, subcontracts, and agreements to ensure processing in a timely manner.
  • Deadline Monitoring: Monitor progress report deadlines, update project status in SeRA, and assist PIs with updates to Other Support.
  • Regulation Understanding: Understanding of applicable federal regulations, sponsor requirements, and University policies such as OMB A-21, OMB A-110, Cost Accounting Standards.

5. Grants Accountant Functions

  • Expenditure Review: Review and approve expenditures.
  • Spending Monitoring: Monitor post-award spending and commitment activity.
  • Statement Certification: Review, certify monthly expenditure statements, facilitate quarterly review by principal investigators and initiate cost transfers.
  • Award Collaboration: Collaborate with the Office of Sponsored Research to ensure awards are set up properly, including cost-sharing awards if applicable.
  • Closeout Participation: Participate in the award closeout process and audit inquiries.
  • Revenue Tracking: Capture, track, and report revenue and expenses.
  • Procedure Determination: Determine appropriate procedures for accounting record preparation, research of transactions, and reporting.
  • Account Reconciliation: Oversee, reconcile, and resolve problems relative to complicated accounts.
  • Data Collection: Collect data and perform research on details of transactions.
  • Financial Analysis: Generate, review, analyze, and communicate financial data that reflects actual financial performance against approved budgets.
  • Variance Reporting: Develop, prepare, and present quantitative and qualitative analyses focusing on variances from budget and prior data.
  • Process Control: Maintain and review accounting process controls.
  • Modifications Recommendation: Recommend and implement any approved modifications.
  • Preliminary Analysis: Perform preliminary analysis and recommend solutions.
  • Procedure Development: Develop and maintain desktop procedures and process documentation for the area of responsibility.