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. Projects are restricted to fisheries of the Gulf of Mexico, South Atlantic and U.S. Caribbean. Cooperators are State and territorial governments, Interstate Marine Fishery Commissions. 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 records must be maintained for a period of 3 years from the date of the financial status report for each award.