Why should I be fiscally compliant?

As you receive funding for your innovative ideas, it is important to remember that managing money is equally important as applying for it. If you don’t manage money properly, you won’t get any more. It is everyone’s responsibility to be fiscally compliant when public and private dollars are given to you.

When you don't manage money properly,  you will experience several consequences that will leave a negative impact on you and your organization. To get ahead of it, you should create a checklist that outlines the agreement or contracts guidelines. This technique will enable you to understand why documentation is so important. When you document, you will be able to address any questions that may come up. Always remember that documentation equals being fiscally compliant.