Common use of PROCEDURE FOR DISBURSEMENT OF FUNDS Clause in Contracts

PROCEDURE FOR DISBURSEMENT OF FUNDS. (a) The City will pay to SUBRECIPIENT funds available under this Award Agreement upon approval by the City of SUBRECIPIENT’s Request for Payment. The City will reimburse SUBRECIPIENT for approved, eligible and necessary expenses according to the documentation submitted by SUBRECIPIENT to support the expenditures. The City will not reimburse SUBRECIPIENT for any expenses not included in the approved budget or not clearly and accurately supported by SUBRECIPIENT’s records. Any awarded funds not expended by SUBRECIPIENT within 18 months of the date of execution of this Award Agreement will revert to the City and will be used to finance other CDBG projects.

PROCEDURE FOR DISBURSEMENT OF FUNDS. (a) The City will pay to SUBRECIPIENT funds available under this Award Agreement upon approval by the City of SUBRECIPIENT’s Request for Payment. The City will reimburse SUBRECIPIENT for approved, eligible and necessary expenses according to the documentation submitted by SUBRECIPIENT to support the expenditures. The City will not reimburse SUBRECIPIENT for any expenses not included in the approved budget or not clearly and accurately supported by SUBRECIPIENT’s records. Any awarded funds not expended by SUBRECIPIENT within 18 months of the date of execution of this Award Agreement will revert to the City and will be used to finance other CDBG projects.