# Annual Funding Decisions and Disbursements

An annual funding decision determines when funds, on a staggered basis and according to the grant agreement, will be disbursed to the Principal Recipient.

A schedule is set up to determine when disbursements are released. In many cases the Principal Recipient will also disburse funds to smaller organizations who serve as sub-recipients and sub-sub-recipients.

See [Financial Management](/en/more-topics/financial-management/ "Financial Management") for more information and documents.