What are leveraged funds?
• Leveraged funds are the amount of funds spent on your SECO grant project activities leveraged from other non-federal sources including local, state, in-kind or utility funds that would not have otherwise been spent except for your Recovery Act funds. Leveraged funds do not include SECO Stimulus grant funds or funds put into your project as required match. Leveraged funds do not include funds that are already part of your project budget (such as required match amount). For example, if you have $23,030 of SECO Stimulus funds for your project and you put in $1,000, the $1000 are leveraged funds. If $100,000 of your project is funded by SECO Stimulus and you are contractually required to match that amount with $20,000 of your funding and your local utility company adds an additional $10,000 into your project, the $10,000 are leveraged funds.
