Common use of AWARD PERIOD AND INCREMENTAL FUNDING Clause in Contracts

AWARD PERIOD AND INCREMENTAL FUNDING. For the purpose of SIF awards, a project period is the complete length of time a recipient is funded to complete approved activities under the award. A project period may contain one or more budget periods. A budget period is a specific interval of time for which Federal funds are provided to fund a recipient's approved activities and budget. Unless otherwise specified, the recipient’s award covers a five-year project period. Continuation funding is contingent upon satisfactory performance as determined by CNCS and the availability of funds. The project period and the budget period are noted on the Notice of Grant Award.

AWARD PERIOD AND INCREMENTAL FUNDING. For the purpose of SIF awards, a project period is the complete length of time a recipient is funded to complete approved activities under the award. A project period may contain one or more budget periods. A budget period is a specific interval of time for which Federal funds are provided to fund a recipient's approved activities and budget. Unless otherwise specified, the recipient’s award covers a fivethree-year project period. Continuation funding is contingent upon satisfactory performance as determined by CNCS and the availability of funds. The project period and the budget period are noted on the Notice of Grant Award.