For discretionary grants (competitive or non-competitive), what documentation has to be submitted by nonprofit and for-profit organizations to show financial stability?
All nonprofit organizations, including open enrollment charter schools, as well as for-profit organizations (when for-profit organizations are eligible applicants) must submit along with the application indicators of financial stability, including but not limited to: 1) The most recent (i.e., within the last two years from the date of the grant application is filed with the TEA) audit report, including a statement of financial position (balance sheet), statement of activities (income statement), statement of cash flows, note disclosures, and the independent auditor’s opinion (standard report). 2) In the event the grant application is also subject to the Single Audit Act of 1996, as amended, the audit report must also include reports in accordance with Government Auditing Standards, as promulgated by the U.S. Government Accountability Office, and Office of Management and Budget (OMB) Circular A-133. Entities which expend more than $500,000 in federal funds total in a fiscal year are req
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- For discretionary grants (competitive or non-competitive), what documentation has to be submitted by nonprofit and for-profit organizations to show financial stability?
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