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Free grant financial report template
A budget vs actual report for one grant and one reporting period: approved budget by line, previous periods, this period, total to date, what is left, and an explanation for any line that is off plan. The numbers fill themselves in from an expense log. No email needed, no macros.
Opens in Protected View? Click Enable Editing so the totals calculate.
Published 2026-10-31 · Last updated 2026-10-31
This page and the template are not legal or accounting advice. Your grant agreement comes first.
What a grant expenditure report shows
Funders want to see the same few numbers for every line of the budget they approved. This is the template's example: a $50,000 grant for calendar 2026, reporting on July to September, when 75% of the grant period has passed.
Scroll the table sideways to see every column.
| Budget line | Approved budget | Previous periods | This period | Total to date | Remaining | Flag |
|---|---|---|---|---|---|---|
| Salaries | $30,000 | $15,000 | $7,500 | $22,500 | $7,500 | (none) |
| Benefits | $6,000 | $3,000 | $1,500 | $4,500 | $1,500 | (none) |
| Books and supplies | $5,000 | $3,500 | $1,600 | $5,100 | -$100 | Over, explained |
| Evaluation | $6,000 | $0 | $0 | $0 | $6,000 | Explained |
| Family events | $3,000 | $0 | $2,900 | $2,900 | $100 | Explain |
| Total | $50,000 | $21,500 | $13,500 | $35,000 | $15,000 |
Previous periods and this period come from the Expenses tab, split by the report's dates, so you never type a total by hand. The report also shows percent spent, expected spending by now, the variance from plan, and how much grant money you have on hand: payments received minus total spent.
Variance with explanation
"Expected by now" is each line's budget times the share of the grant period that has passed. The variance is total spent to date minus that. When a line is off by more than a threshold (10% of the line unless you change it), the Flag column says Explain until you write a reason in the Explanation column. A line over its whole budget says Over budget. Flagged rows also turn red, but the words are always there.
Spending pace is a rough guide. Plenty of lines are lumpy on purpose, such as an annual book order or an evaluator who starts late. A good explanation says what happened and what comes next:
- "The evaluator starts in October. The full amount will be spent in the fourth quarter."
- "We replaced books damaged by a leak in August. The $100 over budget will be paid from other funds."
If a line will end well over or under budget, ask the funder before you move money between lines. Your agreement may limit budget changes. On federal awards, 2 CFR 200.308(i) lets the agency restrict transfers among direct cost categories once they add up to more than 10% of the total approved budget, when the federal share is over the simplified acquisition threshold.
Interim and final financial reports
Use the same file for both. For a final report, set "This report covers to" to the last day of the grant. Expected spending then equals the budget, and the variance on each line is what you underspent or overspent. Explain each one. The "funds on hand" figure shows any unspent money; your agreement says whether you return it or carry it forward.
Federal awards: the SF-425 and the certification
Federal agencies use the SF-425 Federal Financial Report, and this template does not replace it. It is a working sheet for the line-by-line numbers behind it. Under 2 CFR 200.328:
- Financial reports are collected at least once a year, and not more often than quarterly unless the agency sets a specific condition.
- Annual reports are due within 90 days after the period. Quarterly and semiannual reports are due within 30 days.
- The final financial report is due within 120 days after the period of performance ends, or 90 days for a subrecipient reporting to its pass-through entity.
Federal financial reports also need the certification in 2 CFR 200.415(a), signed by an official who can bind your organization. The template includes its wording. Keep the report and the records behind it for three years from the date you submit the final financial report (2 CFR 200.334), or longer if there is an open audit, claim or litigation, or if the agency or pass-through entity tells you in writing to keep them longer.
Rules checked on eCFR (up to date as of October 29, 2026) on October 31, 2026.
How to use the grant reporting template
- Delete the gray EXAMPLE rows on both tabs.
- Enter the grant period, the report period and each approved budget line, in the funder's own words.
- Log every expense charged to the grant on the Expenses tab, with the date paid and its budget line.
- Check the totals against your accounting system for the same dates.
- Write an explanation for every line the Flag column marks, then sign and save as PDF.
- For the next report, change only the report dates. Last period's spending moves to Previous periods on its own.
Funder reports in FundMesa
FundMesa builds the same budget table from the expenses you already track on each grant: awarded, previous, this period, to date and remaining, by budget category, for the reporting period you pick. The report can also carry outcomes, deliverables, deadlines and your narrative, and downloads as PDF or CSV. Funder reports are on every plan; the Starter plan tracks budgets on up to 3 active awards.
FundMesa is free for 30 days with no credit card. The live demo needs no signup.
Frequently asked
What is a grant financial report?
A report to the funder of how the grant money was spent, line by line against the approved budget. It usually shows the budget, spending in earlier periods, spending this period, the total to date and what is left, with an explanation for any line that is well off plan.
Is a budget vs actual report the same as a grant expenditure report?
Mostly. Funders use both names for a report that compares actual spending with the approved budget. An expenditure report sometimes means only the spending columns, without the budget comparison. Use the funder’s own form and wording if it has one.
How do I explain a budget variance in a grant report?
Say what happened, why, and what comes next, in one or two sentences. For example: "The evaluator starts in October, so this line is behind plan. The full amount will be spent by year end." If a line will end over budget, say how you will cover it or ask for approval to move funds.
When is the final financial report due on a federal grant?
Under 2 CFR 200.328(d) and 200.344, a recipient’s final financial report is due no later than 120 calendar days after the end of the period of performance. A subrecipient reports to its pass-through entity within 90 days, or earlier if they agree. The agency or pass-through entity can extend the date when justified.
Is this grant reporting template free?
Yes. No email or signup is needed to download it, and you can copy, change and share it. It has no macros.
Where to go next
- Start with the free grant tracking spreadsheet template (Excel, Google Sheets or CSV).
- Compare grant management software: FundMesa, Instrumentl, Grantable and a spreadsheet, with sources and dates.
- FundMesa pricing: what each plan includes, and the 30-day free trial with no credit card.