§ 225.20. When may a grantee draw down funds?
83 words·~1 min read·
/us/cfr/t34/s§ 225.20·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A grantee may draw down funds after it has signed a performance agreement acceptable to the Department of Education and the grantee.
(b)A grantee may draw down and spend a limited amount of funds prior to reaching an acceptable performance agreement provided that the grantee requests to draw down and spend a specific amount of funds and the Department of Education approves the request in writing. \[70 FR 15003, Mar. 24, 2005, as amended at 84 FR 25998, June 5, 2019\]