Common use of Initial Grant Payment Clause in Contracts

Initial Grant Payment. After all necessary approvals have been obtained for the grant, funds will be considered obligated to the recipient. Grant recipients must be in compliance with all program, fiscal and reporting guidelines to be eligible to receive payment. Also, prior to submitting payment requests under a grant award/MOU to the ADE Finance Office, the Finance Office must first have the original hard copy and a PDF electronic copy on file, including the Contract/Grant Award Routing Form with all required approvals before payments will be made. Payments to grant recipients must minimize the time elapsing between the transfer of funds to the grant recipient and the expenditure of these funds by the grantee. Funds will not be paid in a lump sum, but be disbursed over time as costs are incurred or anticipated. ADE will initially advance no more than 50% of the grant award to the recipient at the start of the grant award period. This is the maximum percentage of funds that may be advanced to the recipient, and should only be provided to recipients that have an immediate requirement or use for the funds. Most grant recipients will not require 50% initial grant funding. Advance payments to grant recipients must be limited to the minimum amounts needed and in accordance with the immediate cash requirements of the grantee in carrying out the purpose of the grant.

Initial Grant Payment. After all necessary approvals have been obtained for the grant, funds will be considered obligated to the recipient. Grant recipients must be in compliance with all program, fiscal and reporting guidelines to be eligible to receive payment. Also, prior to submitting payment requests under a grant award/MOU to the ADE DESE Finance Office, the Finance Office must first have the original hard copy and a PDF electronic copy on file, including the Contract/Grant Award Routing Form with all required approvals before payments will be made. Payments to grant recipients must minimize the time elapsing between the transfer of funds to the grant recipient and the expenditure of these funds by the grantee. Funds will not be paid in a lump sum, but be disbursed over time as costs are incurred or anticipated. ADE DESE will initially advance no more than 50% of the grant award to the recipient at the start of the grant award period. This is the maximum percentage of funds that may be advanced to the recipient, and should only be provided to recipients that have an immediate requirement or use for the funds. Most grant recipients will not require 50% initial grant funding. Advance payments to grant recipients must be limited to the minimum amounts needed and in accordance with the immediate cash requirements of the grantee in carrying out the purpose of the grant.