A risk assessment is completed by the Grant Monitor before the grant award period begins and/or annually to inform the monitoring plan for the following fiscal year. Grant Monitors will complete a risk assessment using the Grant Monitoring Risk Assessment, which meets the required elements in 2 CFR 200.331(b), to evaluate each sub-grantee’s risk of non-compliance with federal statutes, regulations, and the terms and conditions of the award to determine the appropriate level and schedule of sub-grantee monitoring.