Excellence in Economic Education

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FY2005 Funding Issues and Budget Periods Frequently Asked Questions

Please note: This program's frequently asked questions (FAQs) below is for historical information only. FAQs will be updated when a new competition is announced.


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  1. How long can the project and budget periods be?
  2. How much funding is available?
  3. Why will there be only one award?
  4. Absolute Priority #2 requires that 75 percent of the funds be used for subgrants. Does this mean that the applicant may only keep 25 percent?
  5. Are each of the subgrantees required to provide matching funds? What is considered matching funds?


1. How long can the project and budget periods be?

A budget period is 12 months.

The project period can be for up to five years (60 months—or 5 budget periods).

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2. How much funding is available?

$1,447,000 for budget period one.

The amounts available in future years will depend on Congressional appropriations actions.

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3. Why will there be only one award?

The authorizing legislation for the Excellence in Economics Education program requires that only one award be made.

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4. Absolute Priority #2 requires that 75 percent of the funds be used for subgrants. Does this mean that the applicant may only keep 25 percent?

That is correct. Furthermore, the grantee is required to use its 25 percent of the funds to perform all of the activities listed in Absolute Priority #1.

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5. Are each of the subgrantees required to provide matching funds? What is considered matching funds?

The recipients of each subgrant are required to match the Federal grant funds with an equal amount of non-Federal funding. The Federal share of each subgrant must be fifty (50) percent of the cost of the funded activities. The recipient of the subgrant must provide the other fifty percent in cash or in kind. Under the Education Department General Administrative Regulations (EDGAR), (34 CFR 74.23 and 80.24), in-kind contributions include such items as the cost of the plant (e.g., rent), equipment, or services used for the activity, and volunteer services by professional and technical personnel. In-kind contributions must be fairly evaluated.

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