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(a) A grantee shall report grant income to the Corporation on a form designated by the Corporation.
(b) Subject to (c) - (f) of this section, a grantee shall use grant income, including the grantee's share of proceeds from the sale of assets of the grant project, to further the objectives of the grant project, including, but not limited to, uses which will:
(1) increase the number of persons served by the grant project;
(2) increase the services provided by the grant project;
(3) improve the quality of the services provided by the grant project;
(4) establish a reserve fund for use in off-setting underestimates of financing needs for the grant project;
(5) improve the capabilities of the grant project to generate reimbursement for services from a source other than the Corporation or the clients of the grant project;
(6) satisfy requirements under the grant program for matching contributions from the grantee.
(c) The grantee must expend grant income in the grant period in which it is earned. A grantee may use grant income only:
(1) as specified in the terms of the grant; or
(2) with approval from the Corporation.
(d) The provisions of (b) and (c) of this section do not apply to a grantee if, in the grantee's application for the grant, the grantee reduced the total anticipated cost of the grant project by the anticipated grant income to be received during the grant period and used the remaining net anticipated cost of the grant project to determine the amount of the grant required to operate the grant project. However, to the extent that actual grant income during the grant period exceeds the anticipated grant income, the provisions of (b) and (c) of this section apply to the grantee.
(e) All grant income shall be paid over to the Corporation unless otherwise provided for in the grant agreement.
(f) The grantee may not use grant income for purposes prohibited by 15 AAC 154.800.
History: Eff. 6/11/96, Register 139; am 9/23/97, Register 145
Authority: AS 18.55.100
Note to HTML Version:
The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.
If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.
Last modified 7/05/2006