Timely Expenditure of Funds
Grantees must minimize the time lapsing between the receipt of CDBG funds and their disbursement per 2 CFR 200.305, which states that grantees must adhere to Treasury Regulations at 31 CFR Part 205. To ensure that these requirements are met, all funds must be disbursed within 15 days of receipt. Failure to meet the timely distribution of funds will result in a finding at monitoring.