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First 5 Sacramento raises contractor advance-payment caps to aid small community partners
Summary
The commission approved raising executive-director authority for contractor advance payments from 20% to 25% of annual allocations and authorized up to 50% advances for new Equity & Action contracts, with enhanced monitoring and repayment safeguards.
The First 5 Sacramento Commission on Dec. 1 approved revisions to its advance-payment policy to help smaller community-based organizations manage start-up costs and cash flow.
Under the revised policy, the executive director may authorize an advance payment up to 25% of a contractor—s annual allocation (up from 20%). The policy also includes a special provision for the new Equity & Action initiative that allows advances of up to 50% of an equity contract—s annual allocation to give small…
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