Section 110.270  Administrative Costs

a)         Eligible administrative costs include, but are not limited to, salaries, supplies, utilities, Financial Intermediary Agreement costs or similar expenses necessary for managing or servicing the RF portfolio and implementing the RF project.  All administrative costs paid with RF shall be exclusively for RF activities.

b)         Administrative costs may be paid from the grantee's own funds or from the RF.

c)         Administrative costs paid from RFs shall not exceed 10% of the program income received each calendar year (e.g., loan repayments, interest earned on revolving funds).

d)         Administrative costs shall be documented (e.g., timesheets, invoices, etc.).

e)         Administrative costs charged to the RF shall not be used for general marketing activities or for the costs of preparing an application for a new CDAP grant from the Department.

(Source:  Amended at 28 Ill. Reg. 13468, effective September 23, 2004)