Page 140 - 2021-22GMS基金獎助金管理研習手冊

2020-21 GMS 扶輪基金獎助金管理研習會
2021-22 GMS 扶輪基金獎助金管理研習會

VIII. PAYMENTS

District grants
Grant funds will be paid only to the district or district foundation bank account that you listed in your application.
District grant funds will not be released until the district grant from the previous Rotary year is closed. District
grants are paid out at the Rotary International exchange rate at the time of payment. Funds are not available after
the close of the implementation year, meaning that if sponsors don’t meet all payment requirements by 31 May of
the implementation year, the grant will be canceled.

Global grants
Grant funds won’t be released until the grant sponsors have entered their bank account information in the Grant
Center, sponsor contributions have been submitted to The Rotary Foundation, and any payment contingencies
have been met. Grant funds will be sent to the account listed in the Grant Center. Project funds may not be paid to
a vendor, cooperating organization, or beneficiary organization before project expenses have been incurred or
services have been delivered. Organizations being reimbursed for project expenses need to give the Rotarian
project sponsors copies of the original invoice or receipt before they’ll be paid. The people with signing authority
on the bank account need to be members of the sponsoring club or district. Grants will be paid out at the Rotary
International exchange rate at the time of payment. If a grant project is canceled after the project sponsors receive
a payment, all remaining grant funds need to be returned to the Foundation and will be credited to the World
Fund.

Grants for which the World Fund award is $50,001-$400,000, or total funding is $100,001 or more involving
directed gifts or endowment earnings (Level 2 and 3 applications), will be paid in installments according to a
spending plan. Payments after the first installment will be made after the grant sponsors submit a satisfactory
progress report and a Cadre representative conducts an interim site visit.

The following points apply to global grants funded with cash contributions:
1. All grant-related transactions will be recorded using the current published monthly Rotary International
exchange rate, and all grant-related transactions will be officially communicated in U.S. dollars.
2. For the part of the grant funded by cash contributions, sponsors will be shielded from currency exchange
fluctuations of more than 10 percent of the rate at the time it was approved. The Foundation also will not
distribute currency gains to project sponsors of more than 10 percent of the rate at the time it was
approved.
3. All cash contributions to global grants sent to the Foundation need to include an extra 5 percent to offset
processing and administrative costs. Paul Harris Fellow recognition points will be awarded on the full
cash contribution, and charitable tax receipts will reflect that amount. The additional 5 percent is not
required for contributions sent directly to a project’s bank account. Those contributions don’t generate
Paul Harris Fellow recognition points, however, and the Foundation won’t issue tax receipts for them.

4. All cash contributions submitted to the Foundation above the amount pledged to the grant will be
transferred to the World Fund.
5. Contributions received for any grants that are canceled will be moved to the World Fund. Donors will

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