WORK EXPERIENCES EXPENDITURE REQUIREMENT Sample Clauses

WORK EXPERIENCES EXPENDITURE REQUIREMENT. The Workforce Innovation and Opportunity Act (WIOA) section 129(c)(4) prioritizes work experiences with the requirement that local areas must spend a minimum of twenty percent (20%) of non-administrative local area funds on work experience. The Contractor Agrees to expend the funds allocated under this Contract to provide paid and unpaid work experiences (WE) as follows: • The Contractor shall spend not less than one hundred percent (100%) of the funds allocated under this Contract, and entered into WFMS, for WE; • Authorized program expenditures on the work experience element include only participant wages as well as staffing costs for the development and management of the WE; • The Contractor agrees that 100% of the WIOA funds expended for WE related elements shall be invoiced as required and shall reflect the staffing costs associated with the development and management of the WE accurately; • The Contractor agrees to expend one hundred percent (100%) of the WIOA funds allocated for work experience wages; • On a quarterly basis, year to date expenditures recorded will be measured against year to date WE billed. If, at a minimum a twenty percent (20%) expenditure is not met, a deduction or chargeback to expenditures already paid will be collected to bring the WE expenditure rate to 20% based upon the following calculation: o YTD WE/(YTD Expenditures less Administrative Costs); o Request for waiver: If the Contractor’s SFWIB Approved Program design has Work Experience expenditures that would occur during the last quarter of the Program Year, the Contractor may request a waiver from the twenty percent (20%) quarterly chargeback to expenditures. The request shall be submitted in writing and provide a plan and budget to achieve the required expenditure level by June 30 of each program year funded. • The Contractor has until the end of the contract period to make up for any deductions or chargebacks collected by the SFWIB; • The “Work Experiences Expenditure Reconciliation” form shall be submitted with the Financial Closeout detailing the YTD WE/(YTD Expenditures less Administrative Costs) and any amounts that were charged back and are payable to Contractor based upon the Final Invoice submitted; • Contractors not meeting, at a minimum, a twenty percent (20%) expenditure by June 30 of each program year funded, shall forfeit the quarterly charge backs collected by the SFWIB; • The Incentive Holdback shall only be paid when Contractor has met the required 100% ...
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Related to WORK EXPERIENCES EXPENDITURE REQUIREMENT

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