Eligible Project Expenditures. Project costs eligible for State participation will be allowed only from the date of this Agreement. It is understood that State participation in eligible project costs is subject to:
Eligible Project Expenditures. The following shall be used, where necessary, to clarify the categories and description of Eligible Project Expenditures set out in the budget sections of Schedule “B-1”. They do not expand the universe of Eligible Project Expenditures. Eligible Project Expenditures are actual expenditures to be incurred on or after the Project Start Date up to and including the Project Completion Date that are directly attributable to and neces- sary for the completion of the Project and are not wholly or partially for another purpose, subject to the terms and conditions of the Agreement, and subject to review and approval by Ontario. Eligible Project Expenditures are one-time expenditures directly attributable to the development and implementation of the Project. Eligible Project Expenditures do not include ongoing expenditures associated with production or operations. Labour, materials, overhead, and other expenditures for the production of saleable items are not eligible. Eligible Project Expenditures are actual cash outlays, net of applicable HST, that must be docu- mented through invoices, receipts, or Recipient records acceptable to Ontario and are subject to verification by an independent auditor. Evidence of payment must be maintained for audit pur- poses. Acting reasonably, Ontario’s decisions as to the expenditure eligibility and valuation shall be final and determinative.
Eligible Project Expenditures. The Canada – New Brunswick New Building Canada Fund Small Communities Fund shall contribute a financial incentive of two-thirds (2/3) of the aforementioned eligible project expenditures of $426,528 being an amount not exceeding $284,352. Subject to this Agreement, the Recipient shall be responsible for contributing at least one-third (1/3) of the Eligible Expenditures of the project implemented under this Agreement. Expenditure overruns will not be considered as Eligible Expenditures and will be the responsibility of the Recipient. No contributions shall be made by the Canada – New Brunswick New Building Canada Fund Small Communities Fund with respect to any expenditure incurred other than the eligible project expenditures. Financing of Project: Federal: $142,176 Provincial: $142,176 Recipient: $142,176 Total: $426,528 Environment Impact Assessment (EIA) is required (or additional information is needed to determine that it is not required): No Forecasted construction start dates (YYYY/MM/DD): 2017/07/04 Forecasted construction end dates (YYYY/MM/DD): 2017/07/30 Project Category Outcomes/Benefits that will need to be quantified: Extends the life of an existing asset. SCHEDULE B – Eligible and Ineligible Expenditures (as amended by Amendment No. 1 dated August 18, 2016) Eligible Expenditures For the purposes of this Agreement, Eligible Expenditures mean all direct and necessary expenditures incurred and paid by a Recipient towards the Project, associated with acquiring, planning, designing, constructing or renovating a tangible capital asset, as defined by Generally Accepted Accounting Principles (GAAP). This also specifically includes the following:
Eligible Project Expenditures. Project expenditures eligible for reimbursement under the Cost Reimbursement Contract are only for those expenditures which are eligible for Section 5311 reimbursement and are further identified in the budget form accompanying the Applicant’s Application. Federal Office of Budget and Management Circular 2 CFR 200 shall be used as guidance in establishing cost principals applicable to the grant.
