Awarding of Funds

Awarding of Funds. Approved projects will receive all of the funded amount (up to 50 percent of total eligible costs) after submission and approval of the applicant's final report, which must be submitted to the Visit Mississippi Director of Tourism within one year of the grant award date. All funds awarded must be matched on a dollar-for-dollar basis by the applicant. Matching contributions must be in hard cash, not in-kind contributions. The match must be budgeted and allocated funds earmarked to the proposal. Applying organizations will be accountable for all monies awarded and responsible for submission and tracking of all research and measurement of completed project results. The tourism organization receiving a grant from Visit Mississippi, as well as any organization participating in this grant, will be subject to audit by the State Auditor’s Office. If the completed project cost is higher than the estimate, the organization will receive the amount originally approved when the awards were made on project proposals. If the total cost of the completed project is less than the provided estimate, the organization will be awarded the designated percentage of the lesser amount. (Example: if a project with a total estimated cost of $4,000 received an award of 50 percent or $2,000 and the actual cost was $3,000, then the project would receive 50 percent of the final cost, or $1,500.00.) Source: Miss. Code Ann. § 57-1-60 et seq. (1972), as amended. Rule 17. 11. Sample Invoice Information. The following information listed in quotations must be retyped on documents with your letterhead. Fill in the information for your project and include it in your final report. It must: A. Be titled "Invoice for Payment"; B. Include "Contact Name"; C. Include Organization Name" (as listed on the tax ID form), D. Include "Mailing Address", E. Include "City, State, Zip", F. Include "Project Title", G. Include "Project Code"(This number is listed in the letter of confirmation from Visit Mississippi), H. Include "Estimated cost of project listed on the application". I. Include "Actual Cost of the Project" (Only approved expenditures relating to grant project from original application), and J. Include "Match Grant Amount Due" (If project cost is less than estimate, you may receive only the designated percentage of the actual cost; if the project cost exceeds the estimate, you may receive only the original grant amount awarded). K. Contact Visit Mississippi Tourism Matching Grants Program for additional information.