Ill. Admin. Code tit. 35, § 887.240 - Grant Payment

Current through Vol. 46, No. 16, April 15, 2022

a) The Agency shall disburse the grant award to the grantee in lump sums according to the following schedule:
1) Fifty percent of the total grant award shall be disbursed upon execution of the grant agreement by the grantee and the Agency.
2) When the visioning process is at least fifty percent complete, the Agency and the grantee shall meet to discuss the status of the visioning process. Forty percent of the total grant award shall be disbursed upon confirmation by the Agency that the visioning process is at least fifty percent complete and execution by the grantee and the Agency of any grant agreement amendments necessary for the completion of the visioning process.
3) Ten percent of the total grant award shall be disbursed upon the Agency's receipt and approval of the final report required under Section 887.245(f) of this Part.
b) Grant funds must be expended or legally obligated within two years after the effective date of the grant agreement. Any grant funds not expended or legally obligated within two years must be returned to the Agency within 45 days after the end of the two year period.
c) If there are sufficient funds to pay the portion of the grant award due, the Agency shall disburse the amount due by sending a voucher for payment to the Comptroller's office.
d) If there are not sufficient funds to pay the portion of the grant award due, the Agency shall so notify the grantee within 90 days after the applicable time for disbursement set forth in subsection (a) of this Section. When sufficient funds become available, the Agency shall make disbursements in the order they are due.

Notes

Ill. Admin. Code tit. 35, § 887.240

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