Projects are funded at up to 100 percent of the Federal share. Grantee matching contributions are not required, but are encouraged. Awards are normally for a 12 month period but in some instances, award periods may extend beyond 12 months, or may be completed in less than 12 months. Reporting requirements are outlined in the Terms and Conditions of the Financial Assistance Award. Progress reports summarize work accomplished and explain situations where expected work has not been completed.
Financial reports indicate use of funds during the financial reporting period designated.
Commercial organizations shall be subject to the audit requirements as stipulated in the award document. All financial and programmatic records, supporting documents, statistical reports, and other records of grantees or subgrantees are required to be retained for 3 years from the date of the final financial status report for each award.