Manage CIP Grant Reimbursements and Billings

Classification: GoldFinch Native · Additional Application · Configured Solution

Overview

Capital improvement project grants often require organizations to identify eligible costs, exclude nonreimbursable items, document the required match, and submit reimbursement requests supported by transaction detail.

GoldFinch supplies the underlying purchasing, payable, project-cost, billing, receivable, receipt, and accounting transactions. Grant eligibility classifications, reimbursement-request records, drawdown tracking, duplicate-billing controls, and approval workflows require an appropriate grant-management application or customer-specific configuration.

Define the CIP grant structure

Relate the grant to the applicable capital project and approved reporting categories. Categories may include:

• Construction
• Equipment
• Design and engineering
• Professional services
• Permits
• Contingency
• Other categories defined by the award agreement

The organization must define which GoldFinch transactions and accounts qualify for each category.

Recommended reimbursement statuses

A configured solution may classify a cost as:

• Eligible and available for reimbursement
• Pending eligibility review
• Included in a draft reimbursement request
• Submitted for reimbursement
• Approved by the grantor
• Previously reimbursed
• Nonreimbursable or excluded
• Applied to the required match

These are recommended classifications and are not standard GoldFinch status values unless specifically implemented.

Prepare a reimbursement request

1. Select the grant, CIP project, reimbursement period, and applicable project categories.
2. Retrieve the qualifying GoldFinch transactions based on the approved eligibility rules.
3. Review the transactions and exclude costs that should not be billed to the grant.
4. Confirm that supporting documents and internal approvals are complete.
5. Create the reimbursement request in the configured grant or billing solution.
6. Retain a relationship between the reimbursement request and every included source transaction.
7. Record the submission date, requested amount, status, approved amount, amount received, and outstanding balance.
8. Record the receipt and update the related reimbursement or drawdown activity when funds are received.
9. Reconcile the reimbursement request with GoldFinch receivable, receipt, and general-ledger activity as applicable.

Prevent duplicate reimbursement

The solution can be configured to identify costs already included in a submitted or paid reimbursement request. Controls may include:

• A reimbursement status on each qualifying cost
• A direct relationship between the source transaction and reimbursement request
• Validation rules or automation that warns or prevents reuse
• Approval requirements for exceptions or adjustments
• Reports identifying transactions assigned to multiple reimbursement requests

Do not state that GoldFinch automatically prevents duplicate billing unless the customer has implemented and tested this control.

Review considerations

• Define whether open purchase orders or only posted costs qualify.
• Define treatment for credits, retainage, taxes, change orders, and indirect costs.
• Confirm documentation requirements for each cost category.
• Separate requested, approved, received, denied, and outstanding amounts.
• Retain evidence of adjustments and grantor decisions.