Common use of Eligible Costs Timeframe Clause in Contracts

Eligible Costs Timeframe. As determined by the SLBA, Recipients may use SLFRF funds to cover eligible costs that your organization incurred during the period that begins on the Contract Start Date, and ends on the Contract End Date, but only to the extent that the disbursed Program Funds for the obligations incurred are actually spent by the Contract End Date. Costs for projects incurred prior to the Contract Start Date are not eligible. Any Program Funds not obligated or expended for eligible uses by the timelines above must be returned to Treasury, including any unobligated or unexpended Program Funds that have been provided to Subrecipients and contractors as part of the award closeout process pursuant to 2 C.F.R. 200.344(d). For the purposes of determining expenditure eligibility, Treasury’s final rule provides that “incurred” means the recipient has incurred an obligation, which has the same meaning given to “financial obligation” in 2 CFR 200.1.