Sources and Uses of Funds. For the CDBG program, these accounting records must contain reliable and up-to-date information about the sources and uses of funds, including: • Federal grant awards (or subgrant allocations) received by the organization. • Current authorizations and obligations of CDBG funds. • Unobligated balances (funds remaining available for distribution). • Assets and liabilities. • Program income. • Actual outlays or expenditures, with further breakdowns by: • The grant program from which the funds are derived. 4 • The “eligible activity” classifications specified in 24 CFR 570.201–570.206 (housing rehabilitation, economic development, public facilities, public services, etc.) or similar classifications which clearly indicate use of program funds for eligible activities.
Sources and Uses of Funds. The Public Entity represents to MnDOT and the Commissioner that the Sources and Uses of Funds Schedule attached as Exhibit A accurately shows the total cost of the Project and all of the funds that are available for the completion of the Project. The Public Entity will supply any other information and documentation that MnDOT or the Commissioner may request to support or explain any of the information contained in the Sources and Uses of Funds Schedule. If any of the funds shown in the Sources and Uses of Funds Schedule have conditions precedent to the release of such funds, the Public Entity must provide to MnDOT a detailed description of such conditions and what is being done to satisfy such conditions.
Sources and Uses of Funds. Listing of funding sources being utilized for the funded project must be provided.
Sources and Uses of Funds. The Administrative Agent shall have received a memorandum detailing the sources and uses of the funds to be used to consummate the Acquisition, the other transactions contemplated by this Agreement and the other Credit Documents and related expenses, in form and substance reasonably satisfactory to the Agents.
Sources and Uses of Funds. Borrower shall have delivered to the Bank, in form and substance satisfactory to Bank, a detailed statement of all sources and all uses of funds (including without limitation the proceeds of the first disbursements of the proceeds of the Loans) to be received and remitted upon closing the Loans hereunder.
Sources and Uses of Funds. The Agency hereby confirms the sources and uses of the sale proceeds of the Allocable Bonds as set forth on Attachment 1 hereto, including the allocations of the portions of the principal maturities and other matters set forth therein.
Sources and Uses of Funds. Grantee represents to State that the Sources and Uses of Funds Schedule attached as Exhibit A accurately shows the total cost of the project and all of the funds that are available for the completion of the project. Xxxxxxx agrees that it will pay for any costs that are ineligible for reimbursement and for any amount by which the costs exceed State’s total obligation in section 4.1.3. Grantee will return to State any amount appropriated but not required.
Sources and Uses of Funds. A. Sources Permanent Mortgage $1,100,000 (47%) G. P. Capital - $ 100 ( 1%) Defxxxxxx Xxxxxxxxxxx Xxx - $ 84,995 ( 3%) I.L.P. Capital - $1,128,905 (49%) Total - $2,314,000 (100%)
Sources and Uses of Funds. The sources and uses of cash for the transactions contemplated under this Agreement shall be consistent in all material respects with the sources and uses of cash previously described by the Borrowers to the Administrative Agent.
Sources and Uses of Funds. SOURCES® CDBG Village TOTAL USES (Activities)¯ * 0600 Economic development $ 350,000 $ 350,000 $ 700,000 infrastructure improvement 0181 General Administration $ 5,000 $ 0 $ 5,000 TOTAL $ 355,000 $ 350,000 $ 705,000 * Most of the Village’s portion will come from TIF funds. The Sources and Uses of Funds table above reflects: • The anticipated total costs of the CDBG-assisted project. • The CDBG-assisted activities being funded. • The sources and amounts of other matching funds required for each activity. • The maximum authorized CDBG funds for each CDBG-assisted activity. • The ratio (derived by computation, not expressly shown) of CDBG funds to other matching funds for each CDBG-assisted activity, which ratio is a further limitation upon the maximum authorized CDBG funds which may be paid for each activity. The ratio is invoked as a limitation if the actual total costs of the activity are less than anticipated. [An example illustrates this point: If the anticipated cost of the public infrastructure improvement was $100,000, with $50,000 to be from CDBG funds as the source, and $50,000 to be from a public entity as the other source—but the actual cost of the public infrastructure improvement turned out to be $90,000—then the 50% ratio limits CDBG funding to $45,000, rather than the $50,000 originally anticipated.] • The proportionality (derived by computation, not expressly shown) of funding from all funding sources, for each activity and for the project in total. Disbursement of CDBG funds will be made only on a pro rata basis with all other funding sources, for each activity and for the project in total. CDBG funds will not be the first funds invested in the project—but rather—CDBG funds will flow into the project in proportion to all other funding sources. • The timing (of CDBG funds flowing into the project on a pro rata basis) is that CDBG funding is reimbursement funding. Reimbursement after-the-fact of the expense having been incurred is what will be done. This timing will result in the public entity ED#: 04-ED-027 having to temporarily carry the costs which are then later reimbursed through CDBG funding. Any costs for “oversizing” the Project to meet the Village’s needs beyond the essential needs of the benefited Business must be exclusively paid by the Village; and such costs borne for “oversizing” will not count toward the required Village match of CDBG funds reflected in the table above.
