DISBURSAL OF GRANT FUNDS Sample Clauses

DISBURSAL OF GRANT FUNDS. In consideration of the Grantee’s satisfactory performance of the work required under this Agreement, including Appendix 1 and the Grantee’s compliance with the terms and conditions of this Agreement, the State shall disburse funds on a reimbursement only basis to the Grantee. a. The State reserves the right to retain 10% of the maximum amount awarded to be paid out upon satisfactory completion of the performance measures outlined in Appendix 1. Once the Grantee has submitted the final progress report, completed the performance measures outlined in Appendix 1 and submitted a WCEDP requisition form the 10% retained funds retained shall be reimbursed to the Grantee. x. Xxxxx funds will only be disbursed upon receipt by the State of a WCEDP Requisition Form with a general ledger that includes transaction details. Grantee may submit subsequent requisitions monthly or quarterly. Requisitions approved and signed by the Grantee may be submitted electronically. The State will review requisitions and supporting documentation, and if appropriate, process approved requisitions within 10 business days of receipt. c. Grantee shall maintain detailed supporting documentation for all grant expenditures. Documentation maintained by the Grantee shall include personnel, time worked, rate being charged per each respective individual (which may include benefits), and a description of the work that was performed. For any other expenditures, Grantee shall maintain supporting documentation, (such as receipts or invoices) that identify the source of the expenditures, date of the expenditure, and to which line item the expenditure was charged. Grantee shall keep copies of all supporting invoices on site and available for monitoring purposes for the period of the Agreement and for three years thereafter or for any longer period required by law for inspection by any authorized representative of the State. d. The State may withhold additional disbursement of grant funds until receipt of any overdue report(s) from Grantee. e. The Project Budget is as follows: Applicant Contribution Salary/Wages 25,000 $25,000 Operating Costs 5,000 $5,000 Consultant/Professional Fees 12,000 $12,000 Other: Training Other: Implementation Funds 10,000 $10,000 Other: Other: Sub Total: $ 40,000 $ - $12,000 $ - $ 52,000 f. Transfer of funds among line items in the Project Budget must be pre-approved in writing by the State when the cumulative amount of such cost transfers exceeds 10 percent of the Maximum Amo...