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Documenting match

Documenting match. GEAR UP Kentucky 3.0 A short primer for partners. What IS MATCH?. Any items that would be allowable under the applicable cost principles (Federal regulations) if charged directly to the GEAR UP program, may be included as match to meet the cost-sharing requirement.

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Documenting match

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  1. Documenting match GEAR UP Kentucky 3.0 A short primer for partners

  2. What IS MATCH? Any items that would be allowable under the applicable cost principles (Federal regulations) if charged directly to the GEAR UP program, may be included as matchto meet the cost-sharing requirement.

  3. What are the matching requirements? GEAR UP is a Dollar-for-Dollar Match Program • At least 50 percent of the total cost must be paid with State, local, institutional, or private funds • For each dollar of Federal funds received, at least one dollar of state or private funds must be contributed • Matching contributions can be in the form of cash or documentedin-kind contributions.

  4. What are the types of match? Four Types of Match in GEAR UP Programs • Financial Assistance: Financial assistance paid to students from State, local, institutional, or private funds; • Waivers:Amount of college tuition, fees, room, or board waived or reduced for GEAR UP students; and • Early Intervention Activities: Non Federal funds expended on documented, comprehensive mentoring, outreach, financial aid information & supportive services to participating GEAR UP students. • Other: Resources recognized by ED including equipment and supplies, cash contributions from non-Federal sources, and facility usage.

  5. How DO I document match? Documentation for Materials and Supplies Provided to GEAR UP in Executing Early Intervention Activities Must Include: • Adequate documentation of the source of the expenditure claimed • The actual cost of the materials or supplies purchased • Description of the goods/services credited to the matching contribution • Description of the use—i.e. purpose for the materials/supplies

  6. How DO I document match? Documentation of In-KindContributions of Materials or Supplies Must Include: • Description of the items and description of use • Name of donor(s) with an authorized signature • Date donated • Description of method used to determine value

  7. How DO I document match? Documentation of In-KindContributions for Services Provided by Partner Organization Must Include: • Time and effort reports (time sheets) for employees PAID by the partner organization • Calculation (cost-basis) of the staff effort (time) provided to GEAR UP at no cost (in-kind/match) • Signature of authorized personnel at partner organization on supporting documentation (time sheets)

  8. How DO I document SCHOLARSHIPS? When Non Federal Funds Are Set Aside Exclusively For Scholarships For GU Students, Documentation Must Include: • Evidence of funds specifically designated for scholarships—include source • Evidence of deposits placed in an account designated for GU scholarships, OR • Evidence of deposits placed into individual accounts set up on behalf of individual GEAR UP students, such as in 529 plans

  9. How DO I document SCHOLARSHIPS? When GU Programs or Partners Set Aside Scholarship Funds Exclusively for GU Students, Documentation Must Include: • Evidence of scholarships specifically set aside for one or more GEAR UP students, or specific school(s)—include source • Evidence of a defined process and timeline for awarding scholarships • Other evidence of fiduciary management , and earned interest on scholarship funds

  10. when DO I document SCHOLARSHIPS? When Scholarship Winners are Selected During the Grant Period, Documentation Must Include: • Source of scholarship funds • Evidence of a selection, award process and timeline • Description of specific requirements for scholarship winners • List of scholarship winners—including unique data elements such as DOB, SS#, etc.

  11. How DO I document match? Documentation of Cash Contributions to GEAR UP Must Include: • Evidence of cash received and source • Evidence of cash expenditures or outlays • Description of purpose of funds and documentation of use • Name of donor(s) with an authorized signature • Date donated

  12. INDIRECT COSTS & MATCH GU partner organizations may charge indirect costs of eight percent or their federally negotiated indirect cost rate (whichever is less) of allowable matching contributions: • Organization must have a Federally approved indirect cost rate agreement • Indirect cost rates cannot be charged to scholarship programs • Unrecovered indirect costs cannot be counted as matching funds

  13. MATCH LIMITATIONS • Matching contributions must be incurred solely to advance the GEAR UP program • Matching contributions can be counted only one time • Matching contributions must be obligated during the grant period (Scholarships—match must be put in individual trusts or set aside for students) • All documentation must be presented to the GEAR UP program at the time match contributions are reported

  14. How Will I know that it is “match” • When considering match, could I pay for this (item or service) using my federal GEAR UP funds? • Is it legal and ethical? • Does it pass the “headline test”? • If in doubt, contact your regional program manager or, if you are the RPM, the finance officer at your designated fiscal agent. IT’S MATCH IF…

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