Im focused on the details because they are important.
S-1 details
Audited balance sheet as of the end of each of the most recent two fiscal years, or as of a date within 135 days if the issuer has existed for a period of less than one fiscal year. Audited statements of income, cash flows and changes in stockholders' equity for each of the two fiscal years preceding the date of the most recent audited balance sheet (or such shorter period as the registrant has been in business). Interim reviewed financial statements for the current period if the filing is more than 135 days after the end of your fiscal year. Date of financial statements: Each amendment must include updated interim or audited financial statements if the financial statements in the prior filing are more than 135 days old.
B. What are the basic eligibility requirements for a project?
1. Required matching contributions. Please see 7 CFR 1739.14 for the requirement. Grant applicants must demonstrate a matching contribution, in cash or in kind (new, non-depreciated items), of at least fifteen (15) percent of the total amount of financial assistance requested. Matching contributions must be used for eligible purposes of the Community Connect grant assistance (see 7 CFR 1739.12). 2. To be eligible for a grant, the Project must (see 7 CFR 1739.11): a. Serve a Rural Area where Broadband Service does not currently exist, to be verified by RUS prior to the award of the grant; b. Serve one Community recognized in the latest U.S. Census or in the absence thereof, the most recent edition of the Rand McNally Atlas containing population data; c. Deploy Basic Broadband Service, free of all charges for at least 2 years, to all Critical Community Facilities located within the proposed Service Area; d. Offer Basic Broadband Service to residential and business customers within the proposed Service Area; and e. Provide a Community Center with at least ten (10) Computer Access Points within the proposed Service Area, and make Broadband Transmission Service available therein, free of all charges to users for at least 2 years. C. See paragraph IV.B of this notice for a discussion of the items that make up a completed application. You may also refer to 7 CFR 1739.15 for completed grant application items.
IV. Application and Submission Information
A. Clarifications to requirements for FY 2011
1. Although 7 CFR 1739.3 defines Broadband Service as 200 kilobits/ second both in the downstream and upstream directions, the Agency recognizes that these speeds are not adequate to deliver much needed benefits such as distance learning and telemedicine to communities that are not currently receiving broadband service. Therefore, when the applications are scored for the ``community-oriented connectivity benefits derived from the proposed services,'' emphasis will be placed on the amount of bandwidth that is being delivered to the customer. Although the amount of bandwidth is not the only item that will be evaluated for this criteria, the bandwidth being provided to enhance rural economic development will have a direct impact on the score that is assigned. All applicants are encouraged to construct systems that are capable of delivering the broadband speeds that are identified in the Federal Communications Commission's National Broadband Plan, available on its Web site. 2. When determining the points that will be awarded for the ``community-oriented connectivity'' benefits derived from the proposed service, systems that are proposing to deliver more than the minimum bandwidth requirements have a greater potential of receiving the maximum number of points for this category. 3. When determining if a community has no existing broadband service, applicants are encouraged to refer to the Federal Communication Commission's National Broadband Map, also available on its Web site. Note that wireless services meeting the definition of broadband service will disqualify an area from being eligible to receive funding under this program. 4. RUS clarifies that the definition of ``Critical Community Facilities'' includes the mandatory Community Center. 5. For all funding commitments, including matching funds, evidence must be submitted demonstrating that funding has been obtained and that the entity providing this funding has the resources to fulfill the commitment. If the appropriate funding commitments are not included in the application, the application will be deemed ineligible for consideration. This evidence must: a. Clearly state the name of the entity that is making the commitment; b. Include the amount of the commitment and evidence that the entity making the commitment has the necessary resources; and c. State the purpose of commitment. 6. RUS clarifies that in order to qualify as eligible grant costs or matching fund contributions, operating expenses incurred in providing Broadband Service to Critical Community Facilities for the first 2 years of operation and in providing training and instruction must be for the following purposes subject to the specified maximum amounts: a. Salary for operations manager, not to exceed $30,000 per year. b. Salary for technical support staff, not to exceed $30,000 per year. c. Salary for community center staff, once operational, not to exceed $25,000 per year. d. Bandwidth expenses, once operational, not to exceed $25,000 per year. e. Training courses on the use of the Internet, not to exceed $15,000 per year. The operating costs to be funded by the grant or from matching contributions cannot exceed in the aggregate $250,000. No other operating expenses than those listed above are eligible for grant funding or to be considered as matching funds. The period for expenses to be considered eligible for grant funding or to be used as an in-kind match is three years from the date the Administrator signs the award documents. 7. Community means any incorporated or unincorporated town, village, or borough located in a Rural Area, that is recognized in the latest decennial census as published by the Bureau of the Census or, in the absence thereof, in the most recent edition of a
Not to mention the storefront, the bank deal, the 100 Million dollar PR from last year, the bighead tv PR, and really way, way too many others to count.
Ive been here for well over a year and the details matter because nearly all of those PR's had problems with their details, which is probably why none of them ever came to fruition.
