The Advance Payment Cash Budgets feature has been released which allows funders to control whether recipients can apply for and receive awards that allow for advanced payments. Below is a summary of the updates and changes. These updates affected the following guides: Administration Guide, Applicant Portal Guide, Award Management Guide, Competitive Award Management Guide, Grant Management Guide, and Advance Payment Cash Budgets Guide (new).
- Organizational Admin can now configure advance payment options for opportunities and awards.
- Applicants can now propose advance payment reconciliation methods, initial advance, and payment schedules.
- Application Budgets with advance reconciliation methods now capture Initial Advance summary and allocation to line items.
- Funders can now configure advance payment reconciliation methods, initial advance, and payment schedules on awards.
- Grant Seekers can now configure advance payment reconciliation methods, initial advance, and payment schedules on grants.
- Funders can now set allowable reconciliation methods on opportunities, including suggesting working capital rates, uploading attachments, and providing instructions for payment schedules.
- Disabling or deleting an award now correctly returns all obligated funds from the award back to the fund. Disbursements are not returned to funds.