Assistance considerations...
Length and Time Phasing of Assistance
Funding is provided annually. The program year runs from July 1 to June 30.
Formula and Matching Requirements
The statutory allocation formula (Section 506(a) of the Older Americans Act, P.L. 106-501) provides for the distribution of funds on the basis of a hold-harmless factor, the number of persons aged 55 and over residing in each State and the per capita income (PCI) in each State. The statistical sources used for fund allocation are: for the number of persons age 55 and over by State: Census P-25 Current Population Reports; and for the annual PCI by State: State and County Personal Income, Bureau of Economic Analysis. Below the State level, funds are distributed on the basis of persons over the age of 55 in poverty calculated from the number of persons age 55 or over who have incomes at or below 125 percent of the DHHS poverty guidelines and Census P-60 Current Population Reports. Project sponsors must provide or arrange through third parties at least 10 percent of the cost of the project. The sponsor share of cost may be contributed in cash or in-kind. This program has Maintenance of Effort requirements; see funding agency for further details.
Note:
A formula may be based on population, per capita income, and other statistical factors. Applicants are informed whether there are any matching requirements to be met when participating in the cost of a project. In general, the matching share represents that portion of the project costs not borne by the Federal government. Attachment F of OMB Circular No. A-102 (Office of Management and Budget) sets forth the criteria and procedures for the evaluation of matching share requirements which may be cash or in-kind contributions made by State and local governments or other agencies, institutions, private organizations, or individuals to satisfy matching requirements of Federal grants or loans.
Cash contributions represent the grantees' cash outlay, including the outlay of money contributed to the grantee by other public agencies, institutions, private organizations, or individuals. When authorized by Federal regulation, Federal funds received from other grants may be considered as the grantees' cash contribution.
In-kind contributions represent the value of noncash contributions provided by the grantee, other public agencies and institutions, private organizations or individuals. In-kind contributions may consist of charges for real property and equipment, and value of goods and services directly benefiting and specifically identifiable to the grant program. When authorized by Federal legislation, property purchased with Federal funds may be considered as grantees' in-kind contribution.
Maintenance of effort (MOE) is a requirement contained in certain legislation, regulations, or administrative policies stating that a grantee must maintain a specified level of financial effort in a specific area in order to receive Federal grant funds, and that the Federal grant funds may be used only to supplement, not supplant, the level of grantee funds.