PAP.10.6.190 Drawdowns

The following apply regarding drawdowns:

(a) Each federal and state agency has established the method of grant/contract payments to the grantee/contractor. All drawdowns of these payments will be made according to grant guidelines provided by the funding agency. While some grants may be drawn down in advance, many may only be drawn down on a reimbursement basis.

(b) The Finance Department will follow the procedures for drawdown of funds and reimbursement of costs as set forth by the funding agency.

(c) If a federal grant is drawn down in advance, the draw down will be done so that cash-on-hand is kept at the minimum amount needed for disbursements to be made immediately or within ten (1) 10 days, unless a different amount is specifically allowed by the grant.

(d) If a program needs an unusually large disbursement of funds by a specific date, the Program Director will notify the Contracts Officer at least one (1) week before the payment is due.

(e) The Contract Officer will periodically review the financial reports of all programs. Upon review of the availability of funds, cash on hand, accounts payable, expenditures to date and encumbrances, funds will be requested as needed by the Contracts Officer by completing a draw down request form. The request for the drawdown of funds from the funding agency will be submitted to the funding agency by the Chief Financial Officer.

(f) The total amount of the grant/contract will be requested in full and drawn down, if allowed. The Contracts Officer will review the cash needs of each program and determine what funds are not immediately required. The Chief Financial Officer will invest the funds in the manner that would be most financially advantageous and in the best interest of the Tribe, to the extent that is allowable by law. Any interest or revenue earned will be used for general tribal operations, to the extent that is allowable by law.