Common use of Project Expenditures Clause in Contracts

Project Expenditures. The Grantee shall include an updated milestone/invoicing schedule with invoices completed to date and anticipated milestone completion dates for the duration of the grant. While Commerce does not anticipate requiring more detailed expenditure information as part of quarterly reporting, Grantee shall maintain project fiscal records in alignment with Generally Accepted Accounting Principles (GAAP) and in sufficient detail to show that a) grant funding has been spent only on eligible costs as outlined in Attachment D: Sample Application Manual, and b) grant funds have not been comingled with any non-grant (match) funds.