Common use of Drawdown of Grant Funds Clause in Contracts

Drawdown of Grant Funds. The Grantee shall be entitled to drawdown funds at the time the funds are actually needed for payment. Funds are to be drawn for immediate cash needs only, as required in U.S. Department of Treasury Circular 1075. The Grantee shall not issue TBRA to a beneficiary until such time as all project set-up information has been received and entered into the Integrated Disbursement Information System (IDIS). Grantee shall use the Tenant Based Rental Assistance Activity Set-up Report, Attachment B, to collect such information. The Grantee shall establish procedures to ensure that any funds set forth in Section IX. A. above shall be expended within fifteen (15) days of receipt of the funds in the electronic depository account.

Drawdown of Grant Funds. A. The Grantee shall be entitled to drawdown funds at the time the funds are actually needed for payment. Funds are to be drawn for immediate cash needs only, as required in U.S. Department of Treasury Circular 1075. The Grantee shall not issue TBRA to a beneficiary until such time as all project set-up information has been received and entered into the Integrated Disbursement Information System (IDIS). Grantee shall use the Tenant Based Rental Assistance Activity Set-up Report, Attachment B, to collect such information. . B. The Grantee shall establish procedures to ensure insure that any funds set forth in Section IX. A. (A) above shall be expended within fifteen (15) days of receipt of the funds in the electronic depository account.