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Grants – New Statewide Policies
•Expenses/expenditures – recognized once all eligibility requirements have been met by the recipient/subrecipient
–any payments not made by June 30, report as accounts payable in the accounts payable closing package
–Grant award less funds paid to date = accounts payable
–Paid to date includes prior year funds
•
Required characteristics of recipients - recipient has the characteristics specified by the provider

Time requirements - usually specified in enabling legislation, such as specification of the grant period

Reimbursements - provider offers resources on a reimbursement basis and the recipient has incurred allowable costs under the program

Contingencies - Specific action required by the provider has occurred, such as paying the required match on a grant program or raising a certain amount of money to be matched by the provider.