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Programs must meet proposed match every quarter.
Programs that are not meeting proposed levels of match at the end of a quarter should include the following comments in their Periodic Expense Report (PER) and Financial Status Report (FSR):
- An explanation as to why match was not met, and
- Plans to meet match the next quarter.
Programs that do not meet match requirements and do not include comments in their PER and FSR reports will be required to submit a letter addressing the two issues noted above.
Corporation funds may be reduced by the Serve Illinois Commission for failure to meet the proposed or minimum match requirements. This would be done to bring the program in line with the match requirements as submitted in the application.
Programs must provide and account for the matching funds as agreed upon in the approved application. This means that the proposed match included in the application must be met even if it exceeds the minimum match requirement.
Cash or in-kind matching contributions that exceed the required minimum will be considered voluntary cost share. Programs that cannot meet the amount of voluntary cost share proposed in their application may submit a request to reduce the amount of
cost share their program will contribute. However, the cost share/match cannot be reduced below the minimum percentage requirements as indicated above. See page 66 for more information relating to budget modifications.
Overall Cost Match
Subject to the requirements of § 2521.45, and except as provided in paragraph (b), your overall share of program costs will increase as of the fourth consecutive year that you receive a grant, according to the previous timetable.
A grantee must have contributed matching resources by the end of a grant period in an amount equal to the combined total of the proposed or minimum overall annual match for each year of the grant period.
|Minimum Overall Share
If your program is unable to meet the match requirements and is located in a rural or a severely economically distressed community, you may apply to the Corporation for a waiver that would require you to increase the overall amount of your share of
program costs beginning in the seventh consecutive year that you receive a grant. Contact your Program Officer if you believe you meet the requirements and are interested in applying.
|Minimum Overall Share
Administration Cost Match
Programs may bill a maximum 5% of the Corporation funds actually expended in the operation of the program to the administration line of the budget. Programs must meet this requirement by the end of the program year.
Each quarter that programs have more than 5% of grant funds charged to Administration, a letter will be sent noting the fact and reminding the program it must be in compliance by the end of the program year. Programs will be required to respond to
this letter with an explanation as to why the 5% has been exceeded and plans for compliance by the end of the program year.
Corporation funds in this line may be reduced at the end of the program year if the 5% maximum is exceeded. This would be done to bring the program in line with allowable maximum Administrative charge against Corporation funds.
Federal Indirect Cost Match
If you have a Federally Approved Indirect Cost (IDC) rate and choose to use it, the IDC rate will constitute documentation of your administrative costs including the 5% maximum payable by the Corporation. Please provide a copy of your IDC rate letter
to your Program Officer.