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DEPARTMENT OF COMMERCE FINANCIAL ASSISTANCE …

January 2013 DEPARTMENT OF COMMERCE FINANCIAL ASSISTANCE STANDARD TERMS AND CONDITIONS 1 | January 2013 DEPARTMENT OF COMMERCE FINANCIAL ASSISTANCE STANDARD TERMS AND CONDITIONS Table of Contents PREFACE .. 4 A. FINANCIAL REQUIREMENTS .. 4 .01 FINANCIAL Reports .. 4 .02 Award Payments .. 4 .03 Federal and Non-Federal Sharing .. 5 .04 Budget Changes and Transfer of Funds among Categories .. 6 .05 Indirect Costs and Facilities and Administrative Costs .. 6 .06 Incurring Costs or Obligating Federal Funds beyond the Expiration Date .. 9 .07 Tax Refunds .. 9 B. PROGRAMMATIC REQUIREMENTS .. 9 .01 Performance (Technical) Reports .. 9 .02 Unsatisfactory Performance .. 10 .03 Programmatic Changes.

a. The recipient shall submit a “Federal Financial Report” (Form SF-425) on a semi-annual basis for the periods ending March 31 and September 30, or any portion thereof, unless

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