Current FY2020 Grantees – Closeout Now to Help Your Cash Flow

From Carol White, Associate Director of Operations –

In this unusual time of COVID-19, new behavior guidelines are top of mind. Wash your hands. Don’t touch your face. Do your part, stay apart. AND … closeout your grant with the Tennessee Arts Commission as soon as you can to maximize cash flow.

As of April 6, 2020, the Commission has approximately $3 million dollars in obligated grants yet to be paid out. If your grant is not yet closed out, please file your final evaluation and request for funds. Given COVID-19 cancelations, there’s no need to wait to make sure audience figures reflect spring activities. Yes, the closeout deadline for all grants is June 15, 2020, but why wait? Closeout now.

Due to the pandemic, Specialty License Plate promotions and TN Arts Commission acknowledgment requirements have been suspended. The single most important piece of information you need for grant closeout is the Itemized List of Expenditures showing allowable expenses to be reimbursed and match. This is uploaded as part of the final evaluation. Align your expenditures with your approved grant budget or contact your program officer to request a contract line item budget change if needed.

For more guidance on how to manage your grant, including important COVID-19 guidance for current FY2020 grantees, click here.