Understanding cash coverage

Cash coverage is a quick cash-flow health indicator in the Payment Schedule section of a Grant Portfolio workspace. It answers one question: do you have enough money in hand to cover what you've already spent?

It's calculated as received funds divided by spent funds, shown as a percentage. A number of 100% or higher means you've been paid enough by the funder to cover your expenses so far, and the indicator shows green. Below 100% means you've spent more than you've been paid, so you're temporarily floating your own money — the indicator turns red.

This is completely normal for reimbursement-based grants, which pay in arrears: coverage dips below 100% mid-project as you spend ahead of payments, then recovers as each drawdown lands. Advance-paid grants that fund you up front should stay at or above 100% throughout.

Think of cash coverage as a float indicator. A number that stays low for a long time is your cue to chase the next drawdown or reimbursement, since it signals you're carrying the cost yourself for longer than expected. The indicator shows a dash when nothing has been spent yet, since the ratio isn't meaningful without spending.