Appeals: Varies with individual proposals. Renewals: This program is on-going and is renewed annually subject to availability of funds. SBDCs are required to update their proposal and submit a current year budget. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: The SBA will provide funds, the amount being determined on a pro-rata share of $75,800,000 based on the population to be served by the SBDC as compared to the total population in the United States, with no State receiving less than $500,000, or whichever is greater. The entity will provide nonfederal funds of at least a 1:1 match, although additional funds may also be contributed by nonfederal sources. At least 50 118 percent of matching funds must be in cash; the balance may be made up of in-kind contributions and indirect costs. Length and Time Phasing of Assistance: Cooperative agreements are usually limited to 1 year. Payments are made on a letter of credit basis. POST ASSISTANCE REQUIREMENTS: Reports: Quarterly or semi-annual reports to the local SBA office no later than 30 days following the end of the required time period. A final report is due 90 days after the end of the cooperative agreement year. Audits: In accordance with the provisions of OMB Circular No. A- 133 (Revised, June 24, 1997), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that receive financial
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