Monitoring of Funded Centers
The Centers of Excellence Program Office will schedule visits to each center to keep abreast of the work in progress. Specific attention will be given to the milestones described in the proposal. The consultants working with centers will routinely submit a report to the Centers of Excellence Office.
Funds are disbursed on a reimbursement basis. To receive funds from the program, an invoice of actual expenses of the funded center should be submitted by the respective institution at least quarterly.
- Every invoice must include:
- Contract Number
- Name of Center and P.I.
- Billing Period
- Current and Cumulative Amounts
- Matching Fund Amount and Documentation
(At the time of invoicing proper documentation of matching funds is required)
- Timely submission of invoices and appropriate use of funds will be considered as a part of the new-year center selection.
- Year-end carryover in excess of 10% will not be approved without exceptional justification.
MATCHING FUNDS REQUIREMENT
There is a minimum statutory requirement for a 2:1 funds match to receive funding from the Centers of Excellence Program. The matching funds can be cash grants from federal or private sources, or in-kind non-cash donations of equipment or other assets that are under the control of the P.I. The in-kind (non-cash) donations must be pre-approved by the Centers of Excellence Program Director in writing.
To facilitate the commercialization objective, the COEP Advisory Council sometimes recommends that funding of individual centers be subject to specific contingencies. These contingencies are described in the individual contract. The performance evaluation will also take these contingencies into account.