Common use of MATCHING FUND REQUIREMENTS Clause in Contracts

MATCHING FUND REQUIREMENTS. As provided in section 198K(i) of the NCSA (42 U.S.C. 12653k(i), the Awardee must provide at least fifty percent (50%) of the overall cost of carrying out the activities supported under its Cooperative Agreement. In addition, under section 198K(k) of the NCSA (42 U.S.C.12653k(k)), all subgrantees must provide at least fifty percent (50%) of the cost of carrying out the activities supported under their subgrants. In both cases, the matching funds must be provided in cash. References in any of the applicable OMB Cost Principles to providing matching funds in-kind do NOT apply to Social Innovation Fund award or subgrants. Subgrants are required to meet a dollar for dollar match expenditure every 12 months beginning at the start of their first award period. Failure to meet the match at any of the 12 month increments will result in termination. The subgrant may complete the current cycle but may not receive subsequent funding.

MATCHING FUND REQUIREMENTS. As provided in section 198K(i) of the NCSA (42 U.S.C. 12653k(i), the Awardee recipient must provide at least fifty percent (50%) of the overall cost of carrying out the activities supported under its Cooperative Agreementaward. In addition, under section 198K(k) of the NCSA (42 U.S.C.12653k(k)), all subgrantees subrecipients must provide at least fifty percent (50%) of the cost of carrying out the activities supported under their subgrantssubawards. In both cases, the matching funds must be provided in cash. References in any of the applicable OMB Cost Principles 2 CFR §200.306 to providing matching funds in-kind do NOT apply to Social Innovation Fund award SIF awards or subgrantssubawards. Subgrants Subawards are required to meet a dollar for dollar match expenditure every 12 months beginning at the start of their first award period. Failure to meet the match at any of the 12 month increments will result in termination. The subgrant subaward may complete the current cycle but may not receive subsequent funding.