Illinois Compiled Statutes 30 ILCS 705/12 – Subgrant of Grant Funds
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Terms Used In Illinois Compiled Statutes 30 ILCS 705/12
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
If any person or entity that obtains grant funds dispenses any part or all of those funds to another person or entity for obligation, expenditure or use by that other person or entity for a specific purpose or purposes, then those funds so dispensed shall be treated as grant funds.