Common use of Administration of Funds Clause in Contracts

Administration of Funds. A. Funding shall be paid to Sub-grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee and Sub-grantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes.

Administration of Funds. A. Funding shall be paid to Sub-grantee as a reimbursement for authorized expenses incurred pursuant to this Agreement and in accordance with the fiscal policies and procedures of IHCDA. Sub-grantee must maintain and implement written procedures to minimize the time elapsing between the transfer of funds to Sub-grantee and Sub-Sub- grantee’s issuance or redemption of checks, warrants, or payments by other means for program purposes.