Will the recipient have to front the money to sub recipients? Or how would the initial year of funding be determined?
The cooperative agreement will be funded incrementally, which means that it will be up to the principal recipient to plan for and budget that first year of funding and all additional years if funds are awarded.
Please reference EPA General Terms and Conditions #5. If awarded, funds will be disbursed via the Automated Standard Application Payments system (ASAP).
Please reference EPA General Terms and Conditions #5. If awarded, funds will be disbursed via the Automated Standard Application Payments system (ASAP).
a. As required by 2 CFR 200.305(b), the recipient must draw funds from ASAP only for the minimum amounts needed for actual and immediate cash requirements to pay employees, contractors, subrecipients or to satisfy other obligations for allowable costs under this assistance agreement. The timing and amounts of the drawdowns must be as close as administratively feasible to actual disbursements of EPA funds. Disbursement within 5 business days of drawdown will comply with this requirement and the recipient agrees to meet this standard when performing this award.
b. Recipients may not retain more than 5% of the amount drawn down, or $1,000 whichever is less, 5 business days after drawdown to materially comply with the standard. Any EPA funds subject to this paragraph that remain undisbursed after 5 business days must be fully disbursed within 15 business days of draw down or be returned to EPA.