Common use of Match and Program Income Clause in Contracts

Match and Program Income. Grantee will: i. Contribute match that is, at minimum, the percentage, stated on Attachment B, of Total System Agency Share unless otherwise stated on Attachment B. ii. Report match on each Financial Status Report (FSR) or Quarterly Match Report, including description, source, and dollar amount in the FSR comment section for the non-System Agency funding and in-kind contributions for the program or as directed by System Agency. iii. Adhere to the Program Income requirements in the Texas Grants Management Standards (TxGMS). iv. Not use program income as match without prior approval of the contract manager assigned to the Contract. v. If the match ratio requirement is not met by the beginning of the last three months of the term of the Contract, System Agency may withhold or reduce payments to satisfy match insufficiency or demand a refund of the amount of the match insufficiency.