Program Specific Funds Clause Samples
The "Program Specific Funds" clause defines how funds allocated for a particular program or project are to be managed and used within an agreement. Typically, this clause outlines that such funds must be used exclusively for the designated program, detailing any restrictions on their use, reporting requirements, and procedures for handling unspent or misapplied funds. Its core function is to ensure financial accountability and transparency, preventing the misuse of resources by clearly delineating how and for what purposes the funds may be expended.
Program Specific Funds. A. Program Income
Program Specific Funds a) Program Income No Program Income is required under the terms and conditions of this Contract.
b) Matching Contributions No match is required under the terms and conditions of this Contract.
Program Specific Funds. A. Program Income
1. Program Income must be reported and expended under the same terms and conditions as the program funds from which it is generated.
2. Program Income must be used to pay for current allowable costs of the program in the same fiscal year that the income was earned (except as noted in 4).
3. For Title III B, III C, III D, III E, VII Ombudsman, and VII-A Elder Abuse Prevention programs, Program Income must be spent before contract funds (except as noted in 4) and may reduce the total amount of contract funds payable to the Contractor.
4. For Title III B, III C, III D, III E, VII Ombudsman, and VII A Elder Abuse Prevention programs, if Program Income is earned in excess of the amount reported in the Area Plan Budget, the excess amount may be deferred for use in the first quarter of the following Contract period, which is the last quarter of the federal fiscal year.
5. If Program Income is deferred for use it must be used by the last day of the federal fiscal year and reported when used.
6. Program Income may not be used to meet the matching requirements of this Agreement.
7. Program Income must be used to expand baseline services.
B. One-Time Only (OTO) Funds
1. OTO funds are non-transferable between funding sources. This means that OTO funds can only be used in the program in which they were accrued.
2. OTO funds can only be awarded to a subcontractor that has a valid contract with the AAA. All contracts shall be procured either through an open and competitive procurement process pursuant to 22 CCR 7352 or through a non-competitive award pursuant to 22 CCR 7360.
3. Titles III and VII federal Program OTO funds shall only be used for the following purposes:
a. The purchase of equipment that enhances the delivery of services to the eligible service population.
b. Home and community-based projects that are approved in advance by CDA, and are designed to address the unmet needs of the eligible service population identified in the Area Plan.
Program Specific Funds. A. Program Income No Program Income is required under the terms and conditions of this Agreement.
B. Matching Contributions No match is required under the terms and conditions of this Agreement.
Program Specific Funds. Program Income No Program Income is required under the terms and conditions of this Contract.
Program Specific Funds