Under this grant, the project period is the complete length of time the grantee is proposed to be funded in order to complete the approved program activities. A project period may contain one or more budget periods. A budget period is a specific interval of time for which federal funds are provided to finance a grantee's approved activities and budget.
Unless otherwise specified, the grant covers a three-year project period. In approving a multi-year project period, the Corporation makes an initial award covering the first budget period. Additional funding is contingent upon satisfactory progress and the availability of funds. The project period and the budget period are noted on the award document.