Leveraging Technology Solutions for Effective Grants Management
The availability of several major funding sources through the Coronavirus Aid, Relief, and Economic Security Act, the American Rescue Plan Act, and the Bipartisan Infrastructure Bill provide great opportunities for state and local governments. They have also introduced enormous pressure, requiring state and local governments to maximize their funds with limited administrative resources and ever-changing eligibility guidance.
The stakes are high in grants management. Fund recipients must coordinate amongst various subrecipients to meet strict and burdensome compliance requirements. Failure to satisfy grant requirements can lead to de-obligation of funds, which can be detrimental to the local economy in the long term.
Grants management technology solutions can help state and local governments develop amore organized and efficient process for preparing, managing, and reporting grants.