Eligible Costs Timeframe Clause Samples
Eligible Costs Timeframe. As determined by the SLBA, Recipients may use SLFRF funds to cover eligible costs that your organization incurred during the period that begins on the Contract Start Date, and ends on the Contract End Date, but only to the extent that the disbursed Program Funds for the obligations incurred are actually spent by the Contract End Date. Costs for projects incurred prior to the Contract Start Date are not eligible. Any Program Funds not obligated or expended for eligible uses by the timelines above must be returned to Treasury, including any unobligated or unexpended Program Funds that have been provided to Subrecipients and contractors as part of the award closeout process pursuant to 2 C.F.R. 200.344(d). For the purposes of determining expenditure eligibility, Treasury’s final rule provides that “incurred” means the recipient has incurred an obligation, which has the same meaning given to “financial obligation” in 2 CFR 200.1.
Eligible Costs Timeframe. For eligible use categories described in the 2022 final rule, your organization, as a recipient of an SLFRF award, may use SLFRF funds to cover eligible costs that your organization incurred during the period that begins on March 3, 2021 and ends on December 31, 2024, as long as the award funds for the obligations incurred by December 31, 2024 are expended by December 31, 2026. Costs incurred for projects by the recipient State, territorial, local, or Tribal government prior to March 3, 2021 are not eligible, as provided for in Treasury’s 2022 final rule.