discretion of the Director. 207 ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: 45 CFR 1180. A Professional Services Program contract or cooperative agreement may not normally exceed $50,000 or 50 percent of the cost of the project. Length and Time Phasing of Assistance: PSP contracts or cooperative agreements are awarded with phasing of assistance as required. POST ASSISTANCE REQUIREMENTS: Reports: Professional Services Program recipients provide interim or final reports depending on length of project. Audits: Applicants for a Professional Services Program contract in excess of $20,000 must submit with their application its financial statements for the most recent fiscal year for which information is available. Records: Grant and contract recipients will be required to maintain standard and financial statements. FINANCIAL INFORMATION: Account Identification: 59-0300-0-1-503. Obligations: (Grants) FY 99 $650,000; FY 00 est $510,000; and FY 01 est $1,000,000. Range and Average of Financial Assistance: For fiscal year 1999, PSP cooperative agreements averaged $30,000. PROGAM ACCOMPLISHMENTS: For fiscal year 1999, the PSP program received 23 applications and funded 10 cooperative agreements. REGULATIONS, GUIDELINES, AND LITERATURE: 208 Final regulations are codified in 45 CFR 1180. INFORMATION CONTACTS: Headquarters Office: Institute of Museum and Library Services,
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