Financial Requirements

Tracking project expenses

All grantees need to track project expenses separately from other farm expenses. This includes the following:

• Material costs
• Labor
• Outreach expenses
• Postage
• Travel

Invoices and documentation

Regularly--monthly or perhaps quarterly--grantees should invoice SARE for their costs and send copies of receipts or other documentation that shows how funds were spent. We also ask that you save all project expense records for three years in the event of an audit.

These invoices need not be complicated. Use the "for grantees" box to your right to download a sample invoice.

Payment processing

The first invoice takes two to four weeks because an account needs to be set up. After that, invoices are usually processed within two to three weeks, although ten to fourteen days is possible if there are no delays in the UVM system.

If you do not receive payment in four weeks of your mailing, be sure to check with the SARE financial manager since sometimes things get lost in the mail or get stuck somewhere in processing.

1099-MISC Form

Note that you will receive a 1099-MISC form from the University of Vermont for grant funds received.