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Office of Community Services -- Asset Building Strengthening Families...Building Communities

AFI Special Terms and Conditions, FY 1999

  1. Grantee assumes complete responsibility for the administration and accountability of all funds (federal & non-federal) received under this grant award.
  2. All Fiscal Year 1999 federal funds appropriated and awarded under this grant may not be expended after 8/31/2004 in support of the administration of the project or matching contribution to the Individual Development Accounts (IDA) which may be open at that time. This project cannot be extended beyond the 5 year project period.
  3. Grantee must comply with legislation and all regulations and guidance established by the Secretary regarding the Assets for Independence Demonstration Program Reserve Fund and Investments of Reserve funds.
  4. Grantees must comply with all regulations and guidances established by the Secretary regarding use of the program income generated from investment of reserve fund monies.
  5. 5. Grantees are required to report the status of funds on the Financial Status Report form SF 269 (long form). Submit an original and two copies of the report. The first year the grantee shall report semi-annually. The first 6-month report is for period 9/1/99 to 2/28/2000 and due 3/31/2000. The second report is for period 3/1/2000 to 8/31/2000 and due 9/30/2000. Thereafter, second to the fifth years the grantee shall report annually, unless otherwise notified to continue more frequent reporting. The grantees shall submit the SF-269 no later than 90 calendar days after the end of each budget year (second to fourth years) and a final report (fifth year) at the completion of the project. Extensions of due dates of financial status reports must be approved by the grants management officer upon written request from the grantee.
  6. Report of Federal Cash Transactions, PMS-272, used to monitor cash advances to grantees and to obtain disbursement information for each account has been waived for the accounts authorized under the Asset for Independence funding.
  7. To obtain a cash withdraw against an Asset for Independence grant account from the Division of Payment Management (DPM), the grantee must have:

    a) Established a Reserve Fund Account at an insured Financial Institution(s) that has been approved by the Office of Grants Management (OGM) and the Office of Community Services (OCS). The grantee must notify the Office of Grants Management if there are any changes in Financial Institution(s). If the location of deposits for the Reserve Fund changes or the grantee establishes more locations, the grantee must submit the name of Financial Institution(s) to the OGM and receive written approval to establish a new account(s). OGM and OCS must approve the establishment of new or additional locations of reserve funds.

    b) Submit the account number(s) to the OGM which will be used to cross reference deposit verification(s).

    c) Submit to OGM a copy of the account statement(s) or a letter(s) certified on financial institution letterhead acknowledging the amount of non-federal share deposited into the Reserve Fund Account(s). Deposit slips and cancelled check(s) will not be accepted as verification of deposit. Once both OGM and OCS have accepted the account statement, the Division of Payment Management (DPM) will be notified to immediately release federal funds up to the amount of non-federal deposit in the Reserve Fund.

  8. Grantees are required to submit Program Progress Reports on the program activities semi-annually the first year and annually the second through fifth years. The first 6- month report is for period 9/1/99 to 2/28/2000 and due 3/31/2000. The second report is for period 3/1/2000 to 8/31/2000 and due 9/30/2000. Submit an original and two copies of the report. The grantees shall submit the program progress report no later than 30 calendars days after the end of each budget year (second to fourth years) and a final report (fifth year) no later then 90 days at the completion of the project. Extensions of due dates of financial status reports must be approved by OCS upon written request from the grantee.
  9. Grantees are reminded that eligibility for participation in the demonstration project is limited to individuals who are members of households eligible for assistance under TANF or of households whose adjusted gross-income does not exceed the earned income amount described in Section 32 of the Internal Revenue Code of 1986 (taking into account the size of the household), and whose net worth as of the end of the calendar year preceding the determination of eligibility does not exceed $10,000, excluding the primary dwelling unit and one motor vehicle owned by a member of the household.

NOTE: The most recent EITC Earned Income Guidelines set the limits on annual income in the IDA Demonstration program.

ELIGBILITY IN THE IDA PROGRAM ARE AS FOLLOWS:

  • for a household without a child: $10,030
  • for a household with one child: $26,473
  • for a household with more then one child: $30,095