•Revenues
– once all eligibility requirements have been met,
–revenues not received
by June 30, report as grants receivable in
the financial statements
–Grant award less
funds received to date = receivable
–Received to date includes prior year funds
Required
characteristics of recipients - recipient has the characteristics specified
by the provider
Time
requirements - usually specified in enabling legislation, such as
specification of the grant period
Reimbursements -
provider offers resources on a reimbursement basis and the recipient has
incurred allowable costs under the program
Contingencies -
Specific action required by the provider has occurred, such as paying the
required match on a grant program or raising a certain amount of money to be
matched by the provider.