Iowa Administrative Code
Agency 261 - Economic Development Authority
Part XII - Energy Division
Chapter 404 - Iowa Energy Center Grant Program
Rule 261-404.4 - Project Budget
Universal Citation: IA Admin Code 261-404.4
Current through Register Vol. 47, No. 6, September 18, 2024
(1) Only expenditures directly related to the implementation of the funded grant activity will be reimbursed. Vehicle and equipment purchases are eligible only when the purchase is an integral part of the funded grant activity and must be approved by the board at the time the award is made.
(2) Ineligible expenses include but are not limited to:
a. Purchase or rental of
buildings.
b. Office
equipment.
c. Furniture and
fixtures.
d. Intangible
assets.
e. International
travel.
f. Insurance.
g. Phone expenses.
(3) Other budget requirements include the following:
a. Indirect costs shall not exceed
more than 20 percent of a grant award.
b. IEC grant funds shall not be used as cost
share to a federal grant award.
c.
Vehicle and equipment purchases or other expenses relating to vehicles or
equipment are not eligible if the purchase or expense supports the proposed
grant activity but is not an integral part of the proposed grant activity. If a
vehicle or equipment purchase is an integral part of a grant activity but a
recipient fails to obtain board approval prior to the purchase, then the
purchase is ineligible.
Disclaimer: These regulations may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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