Managing BEAD funding after an award is not just about deploying broadband infrastructure—it’s about maintaining trust and accountability. Non-compliance can jeopardize funding, so a proactive approach is essential. Here’s how to keep your project on track and within regulations.👇
State and federal guidelines for BEAD funding require consistent and thorough reporting. Typical obligations include:
Quarterly Progress Reports: Outline achievements, milestones, and challenges.
Annual Reports: Provide comprehensive summaries, including financials and community impact.
Audit Preparation: Keep meticulous financial records, such as receipts, contracts, and invoices.
Use project management tools like Smartsheet or Asana to streamline milestone tracking.
Assign a compliance officer or engage a consultant to oversee reporting activities.
Strong governance ensures accountability. Build an oversight committee that includes operations, finance, and legal representatives to manage risks, track progress, and adjust plans as needed. Regular check-ins help ensure that your team remains aligned with state and federal requirements.
The right tools can reduce administrative burdens and improve accuracy. Examples include:
Financial Management Software: Monitor spending and flag discrepancies in real time.
GIS Tools: Track deployment progress visually.
Document Management Systems: Centralize key files for easy access during audits.
By combining a robust plan with the right technology, your ISP can stay compliant and focus on delivering broadband to underserved communities.