Portland Children's Investment Fund | Advance Procedures
- All grantees have option to request an advance payment at the beginning of a contract period.
- Allowable advance amount is up to 25 percent of contract budget for year.
- To request an advance, use the invoice form and submit as instructed.
- If you receive an advance, you will then request reimbursement for actual quarter's expenses at the end of each quarter for the REST of the contract period. For example, submit for advance at the beginning of the first quarter of three-year contract period; at the end of the first quarter, submit expenditure report for actual expenditures in the first quarter and an invoice for actual expenditures. That payment will then act as an advance through the second quarter and the process will continue throughout the contract period. We will recover the advance at the very last quarter of the entire contract period.
- This one-advance process eliminates need for advances each year.
- At the end of a contract term, if advance is not used, then remaining cash must be refunded to city.
