Financial Request Guidelines

Contents of this page:

Economic Infrastructure Program Guidelines : Clean Water Bond Guidelines : Appropriated Funds Guidelines

Financial request guidelines for projects funded through the N.C. Economic Infrastructure Program.

The Rural Center will disburse appropriation funds at end of the month.
Submit a request for payment by the fifteenth day of the month for disbursement via paper check.
Financial requests must be in the amount of $5,000 or greater.
As stated in Exhibit B of the contract: The Rural Center will disburse up to 100 percent of grant funds upon submission of satisfactory evidence that 100 percent of local funds have been expended. Documentation in the form of approved invoices that support expenses must accompany the Financial Request Reporting form, as well as cleared checks showing payment of the local match.
To receive payment, there must be an active contract on your project. You may request reimbursement up to 30 days following the termination of the contract. Termination dates may be extended via a request letter from the local government that states the requested new termination date. A sample extension request letter is enclosed for your review. You must submit an extension request letter in order to coincide the contract termination date and the date your contract is actually signed.
Complete the Financial Request Reporting Form. (A copy of this form is included with the project contract.)
Attach approved invoices that support the full amount expended to date.
Quarterly progress reports must be submitted according to Exhibit C of your contract, and a final report is required upon close of the project.

Financial request guidelines for projects funded under the 1998 Clean Water Bond (CWB) grant programs.

Submit a request for payment by the third Friday of each month. The Rural Center will disburse CWB funds on the Monday following the first Friday of each month.
Financial requests must be in the amount of $5,000 or greater.
As stated in Exhibit B of the contract: The Rural Center will disburse up to 90 percent of grant funds upon submission of satisfactory evidence other funds have been drawn down by 90 percent and that 100 percent of local funds, if committed, have been expended. The remaining 10 percent will be disbursed upon completion of the project. Documentation in the form of approved invoices that support expenses must accompany the Financial Request Reporting form.
To receive payment, there must be an active contract on your project. You may request reimbursement up to 30 days following the termination of the contract. Termination dates may be extended via a request letter that states the requested new termination date.
Complete the Financial Request Reporting Form. (A copy of this form is included with the project contract.)
Attach approved invoices that support the full amount expended to date.
An ACH transfer will deposit payments directly into an account selected by you. Please return the attached form to us along with your contract so we can set up this process.
Quarterly progress reports must be submitted, and a final report is required upon close of the project. The final payment request must also include a copy of any documents produced with the proceeds of the grant.
Bond proceeds have specific financial management requirements that must be followed. Grantees may 1) request funds for reimbursements only, or 2) request funds for accounts payable and date checks for the same day the Rural Center deposit is made to your account. As stipulated by the Office of the State Treasurer, grantees will comply most efficiently with these fiscal requirements by disbursing checks the same day as the deposit. Grantees may (but are not required to) establish a non-interest bearing account into which bond funds will be deposited.

Financial request guidelines for projects funded by appropriations from the N.C. General Assembly

The Rural Center will disburse appropriation funds in the middle and end of the month.
Submit a request for payment by the tenth day of the month and by the twenty-fifth day of the month for disbursement via paper check.
Financial requests must be in the amount of $5,000 or greater.
As stated in Exhibit B of the contract: The Rural Center will disburse up to 90 percent of grant funds upon submission of satisfactory evidence other funds have been drawn down by 90 percent and that 100 percent of local funds, if committed, have been expended. The remaining 10 percent will be disbursed upon completion of the project. Documentation in the form of approved invoices that support expenses must accompany the Financial Request Reporting form.
To receive payment, there must be an active contract on your project. You may request reimbursement up to 30 days following the termination of the contract. Termination dates may be extended via a request letter that states the requested new termination date.
Complete the Financial Request Reporting Form. (A copy of this form is included with the project contract.)
Attach approved invoices that support the full amount expended to date.
Quarterly progress reports must be submitted, and a final report is required upon close of the project. The final payment request must also include a copy of any documents produced with the proceeds of the grant.