Proposed twelve month extension of grant no. AID-538-0021 (Barbados), the Caribbeana Council, audit report, 9/04/82

Theplanned 3-year project began in 1978 but was curtailed because of the Council"s financial problems - problems due to its insufficient operating capital and to the low overhead rate provided in the A.I.D. grant. The Council"s accounting system is now adequate. While the Council"s proposal of $331,761 included no overhead, the auditors have allowed $59,827 in overhead charges, bringing the total accepted costs to $391,588. The Pan American Development Foundation (PADF) has agreed to work with the Council in bringing the project toward economic self-sufficiency. Specifically, the PADF will provide technical assistance and oversight both in the field and at the Council"s Washington offices. Before extending the grant, A.I.D."s Contract Office should ensure the adequacy of the Council"s working capital.