responsible for funding all of their overhead/indirect costs. Small and medium sized companies applying as single company proposers are not required to provide cost-sharing of direct costs. Large companies applying as single company proposers, however, must cost-share at least 60 percent of the total project costs (direct plus indirect costs). A large company is defined as any business, including any parent company plus related subsidiaries, having annual revenues in excess of $2.896 billion. (Note that this number will likely change for future competitions and, if so, will be noted in future annual announcements of availability of funds and ATP Proposal Preparation Kits.) Joint ventures must cost- share (matching funds) more than 50 percent of the total project costs (direct plus indirect costs). 340 Length and Time Phasing of Assistance: Funding for joint research and development ventures may be provided for no more than five years. Funds for single company awards may not exceed three years. The funds are released on a monthly advance payment basis. Continued funding is contingent on satisfactory performance and availability of appropriated funding from Congress. POST ASSISTANCE REQUIREMENTS: Reports: Quarterly and annual technical progress and business reports are required. Audits: Audits of all recipients shall be conducted in accordance with Government Auditing Standards (GAS), issued by the Comptroller General of
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