APPENDIX C

PAYMENT AND REORTING SCHEDULE

1100   CONTRACT NO.
     
Period: From: To: Funding Amount for Period:

In full consideration for the services to be provided by the Contractor to the State under the terms of this agreement the State agrees to reimburse the Contractor according to the following schedule:

 

1st Payment October 1, 200- commmencement of services or approval by OSC, whichever is the latest $ 35% advance1
Interim Payment(s) Quarterly $ Based on reported expenditures2
Final Payment Upon receipt of final expenditure report $ Upon receipt of final expenditure report3
  Total payment $  

note:

  1. Second quarter payment is contingent upon receipt of the program Mid Year Report due by April 30.
  2. Final payment is contingent upon receipt of the program End of Year Report due by November 15.
  3. Continuing payments are contingent upon receipt of a VESID approved program improvement plan for all performance target(s) that are not met.
  4. Continuing payments are contingent upon receipt of the prior fiscal year certified financial statement and management letter by May 15 of the subsequent year.
  5. If any required material(s) noted above is not received in a timely manner, the Contractor will be notified in writing either in print or electronic format by VESID that payment(s) will be withheld until the receipt of the overdue material(s).

Vouchers for payment should be submitted to the New York State Education Department, VESID Contracts and Grants Unit, One Commerce Plaza, Room 1609, Albany, New York 12234.

Information for payments processed on behalf of this Agreement is available on the Internet at: https://wwe1.osc.state.ny.us/pay

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1To be reduced by the amount of any prior advance on a written directive.

2The Contractor shall be reimbursed for approved expenditures quarterly, upon receipt of progress reports and expenditure reports in a form and having a content satisfactory to the Commissioner of Education.

3Final payment shall be made to the Contractor upon satisfactory proof of expenditures and upon receipt of a final report in a form and having a content satisfactory to the Commissioner of Education. If the Contractor has not earned such amount, the Contractor will return to the State any excess payment within thirty (30) days of the termination of this agreement. Payment by the State will be made in the ordinary course of State business upon receipt of properly prepared vouchers.