How often can funds be drawn from PMS and is there a time limit from draw down to actual disbursement of the funds from the grantee organization? Does the limit apply to salaries?
Funds may be drawn on a reimbursement basis or in advance to be disbursed within three business days of deposit into the grantee’s bank account. This requirement applies to all award expenditures including salaries. Funds can be drawn every business day as needed. Multiple payment requests may be submitted on a single day; however the payments will be sent to the bank in one lump sum.
Related Questions
- How often can funds be drawn from PMS and is there a time limit from draw down to actual disbursement of the funds from the grantee organization? Does the limit apply to salaries?
- My organization needs to borrow funds in an amount greater than NCCLF’s loan limit. Can NCCLF still help us?
- Is there a time limit to claim any lost or unclaimed funds?
