Payment Request Process. The SUBRECIPIENT may submit a payment request up to 30 days prior to an anticipated expenditure or disbursement. The SUBRECIPIENT must be able to account for the receipt, obligation, and expenditure of funds. If interest is earned, the SUBRECIPIENT agrees to comply with the federal requirements from 2 CFR, Part 200, Subpart D, Section 200.305. The SUBRECIPIENT may keep interest earned on Federal grant funds up to $500 per fiscal year. This maximum limit is not per subaward; it is inclusive of all interest earned as a result of all federal grant program funds received per year. Subrecipients are required to report all interest earned at least quarterly to HSEMD. HSEMD will provide instructions to the SUBRECIPIENT for the disposition of reported interest earned. Payments to subrecipients are based on eligible expenditures that are specifically related to the approved subaward budget and scope of work. The SUBRECIPIENT has two options available to them when requesting payments from HSEMD. Subrecipients can request Reimbursement for allowable expenditures already paid, or request an Advance for expenditures to be paid within 30 days. Payments shall be limited to the documented cash requirements submitted by the SUBRECIPIENT. The SUBRECIPIENT must submit a completed Payment Request Form and provide supporting documentation of eligible subaward costs to receive payment of funds. • Reimbursement requests must include payment verification (i.e. paid invoices, receipts, payroll records with personnel activity reports, cancelled checks, general ledger print outs, etc.). HSEMD reserves the right to request that the SUBRECIPIENT submit additional expenditure documentation upon request. • Advance payment requests must include the detailed costs the SUBRECIPIENT is obligated to pay (i.e. invoices, accepted quotes, executed contracts, or other documents). Payment verification documents (same documents required for a Reimbursement request) for the advance must be submitted to HSEMD within 30 days after the advance, and before future advances are made. If the SUBRECIPIENT is unable to demonstrate; the willingness to maintain written procedures that minimize the time elapsing between the transfer of funds and disbursement by HSEMD; a financial management system that meets the standards for fund control and accountability as established in 2 CFR, Part 200; or is considered a High Risk subrecipient; then reimbursement requests will be required. No more than thirty (30) days should elapse between the date of receipt of a warrant and pay out of the funds by the SUBRECIPIENT. All supporting documentation must be submitted to HSEMD immediately following the SUBRECIPIENT’s pay out of the funds.
Appears in 3 contracts
Sources: Subaward Agreement, Subaward Agreement, Subaward Agreement
Payment Request Process. The SUBRECIPIENT may submit a payment request up to 30 days prior to an anticipated expenditure or disbursement. The SUBRECIPIENT must be able to account for the receipt, obligation, and expenditure of funds. If interest is earned, the SUBRECIPIENT agrees to comply with the federal requirements from 2 CFR, Part 200, Subpart D, Section 200.305. The SUBRECIPIENT may keep interest earned on Federal grant funds up to $500 per fiscal year. This maximum limit is not per subaward; it is inclusive of all interest earned as a result of all federal grant program funds received per year. Subrecipients are required to report all interest earned at least quarterly to HSEMD. HSEMD will provide instructions to the SUBRECIPIENT for the disposition of reported interest earned. Payments to subrecipients SUBRECIPIENTs are based on eligible expenditures that are specifically related to the approved subaward grant budget and scope of work. The SUBRECIPIENT has two options available to them when requesting payments from HSEMD. Subrecipients SUBRECIPIENTs can request Reimbursement for allowable expenditures already paid, or request an Advance for expenditures to be paid within 30 daysduring the activity completion timeframe. Payments shall be limited to the documented cash requirements submitted by the SUBRECIPIENT. The SUBRECIPIENT must submit a completed Payment Request Form and provide supporting documentation of eligible subaward project costs to receive payment of funds. • Reimbursement requests must shall include payment verification (i.e. paid invoices, receipts, payroll records with personnel activity reports, cancelled checks, general ledger print outsprintouts, etc.). HSEMD Payment of funds shall not be made to a SUBRECIPIENT until NEMA has this grant agreement signed and on file. Payments to SUBRECIPIENT are based on eligible expenditures that are specifically related to the approved subaward budget and scope of work. SUBRECIPIENT has two options available to them when requesting payments from NEMA. SUBRECIPIENT may request either Reimbursement for allowable expenditures already paid or request an Advance for expenditures to be paid within 30 days. Advance payments will only be entertained for certain projects. Below notes whether or not this project is allowed advance payments: ☐YES ☒NO Payments shall be limited to the documented cash requirements submitted by the SUBRECIPIENT. The SUBRECIPIENT shall submit a completed Payment Request Form and provide supporting documentation of eligible subaward costs to receive payment of funds. • Reimbursement requests shall include payment verification (i.e. paid invoices, receipts, payroll records with personnel activity reports, cancelled checks, general ledger printouts, etc.). NEMA reserves the right to request that the SUBRECIPIENT submit additional expenditure documentation expenditures upon request. Additional documentation for Acquisitions: Purchase Offers, HUD Settlement Statements, and copies of tax assessment records, copies of appraisals if used as the basis for pre-flood fair market value, invoices, and copies of all payments. • Advance payment requests must shall include the detailed costs the SUBRECIPIENT is obligated to pay (i.e. invoices, accepted quotes, executed contracts, or other documents). Payment verification documents (same documents required for a Reimbursement request) for the advance must shall be submitted to HSEMD NEMA within 30 days after the advance, and before future advances are made. If the A SUBRECIPIENT shall submit only reimbursement requests, and is not eligible for Advance payment, if SUBRECIPIENT is unable to demonstrate; demonstrate the following: • The willingness to maintain written procedures that minimize the time elapsing between the transfer of funds and disbursement by HSEMDNEMA; a • A financial management system that meets the standards for fund control and accountability as established in 2 CFR, CFR Part 200; or is • Is considered a High Risk subrecipient; then reimbursement requests will be required. No more than thirty (30) days should shall elapse between the date of receipt of a warrant and pay out of the funds by the SUBRECIPIENT. All supporting documentation must shall be submitted to HSEMD NEMA immediately following the SUBRECIPIENT’s pay out of the funds. Payment of funds shall not be made to the SUBRECIPIENT until NEMA has on file the following documents: • NEMA Award Notification (attached to this AGREEMENT). • Signed Subaward Agreement. • Substitute W9/Vendor Update Form (if not already on file at NEMA). • Chart of Accounts verifying that unique revenue and expenditure accounts, cost centers, or account codes have been established within the SUBRECIPIENT’s cash management/accounting system for each program included in this AGREEMENT. • Procurement documents: written procurement and conflict of interest documents, method of procurement, bid specifications reviewed by NEMA, copy of approved and executed contracts between the SUBRECIPIENT and contractor. • Signed certification from the SUBRECIPIENT’s authorized representative for the payment request as outlined in 2 CFR, Part 200, Subpart D, Section 200.415.
Appears in 1 contract
Sources: Grant Agreement