§ 2551.92 What are project funding requirements?

(a) Is non-AmeriCorps support required? A AmeriCorps grant may be awarded to fund up to 90 percent of the cost of development and operation of a Senior Companion project. The sponsor is required to contribute at least 10 percent of the total project cost from non-Federal sources or authorized Federal sources. (b) Under what circumstances does AmeriCorps allow less than the 10 percent non-AmeriCorps support? AmeriCorps may allow exceptions to the 10 percent local support requirement in cases of demonstrated need such as: (1) Initial difficulties in the development of local funding sources during the first three years of operations; or (2) An economic downturn, the occurrence of a natural disaster, or similar events in the service area that severely restrict or reduce sources of local funding support; or (3) The unexpected discontinuation of local support from one or more sources that a project has relied on for a period of years. (c) May AmeriCorps restrict how a sponsor uses locally generated contributions in excess of the 10 percent non-AmeriCorps support required? Whenever locally generated contributions to Senior Companion projects are in excess of the minimum 10 percent non-AmeriCorps support required, AmeriCorps may not restrict the manner in which such contributions are expended provided such expenditures are consistent with the provisions of the Act. (d) Are program expenditures subject to audit? All expenditures by the grantee of Federal and non-Federal funds, including expenditures from excess locally generated contributions in support of the grant, are subject to audit by AmeriCorps, its Inspector General, or their authorized agents. (e) May a sponsor pay stipends at rates different than those established by AmeriCorps? A sponsor must pay stipends at rates no less than the rate established by AmeriCorps. A sponsor may use non-AmeriCorps funding to pay stipends at rates higher than the rate established by AmeriCorps but may not use AmeriCorps funding for this purpose.