It is a condition of AKF grant funding that recipients fully acquit the funds received. Grant money should be acquitted within 60 days of the completion of a project through the submission of a completed acquittal report including a financial statement of expenditure online through SmartyGrants.

As part of the acquittal process, grant recipients need to state how the money was spent on planned project activities for which funding was originally requested. All unspent funds must be returned to the AKF.

Lower risk grants may have their financial statement of expenditure certified by an official from the organisation that received the grant. Higher risk grants should be certified by a qualified accountant. Generally, all grants greater than $50,000 should be certified by a qualified auditor. The cost of certification can be included in the grant funding provided.

Funding recipients are required to keep all receipts and records for five years and to make these available upon request.

The final written report must:

• identify if and how AKF objectives have been achieved
• include evidence that demonstrates completion of planned project activities and how the grant funding was spent
• outline communication activities and impact of project