Hawaii Revised Statutes 42F-104 – Contracts for grants
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 42F-104
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Grant: means an award of state funds by the legislature, by an appropriation to a specified recipient, to support the activities of the recipient and permit the community to benefit from those activities. See Hawaii Revised Statutes 42F-101
- Recipient: means any organization or person receiving a grant. See Hawaii Revised Statutes 42F-101
An appropriation for a grant shall be disbursed by a contract between the state agency designated the expending agency for the appropriation by the legislature, and the recipient of the grant. The contract shall be effective as of the first day of the fiscal year for which the funds for the grant are appropriated; provided that up to one-fourth of the total amount appropriated may be disbursed prior to the execution of the contract.