Grants are paid to universities and colleges according to the following payment schedule:
| Grant value
|| Payment schedule
| Less than $100,000
|| One payment: October
| $100,000 to $499,999
|| Two payments: June and October
| $500,000 to $999,999
|| Four payments: June, July, October and
| $1 million or more
||Twelve payments: June to March
Institutions must spend their funds during the fiscal year in which they were awarded. They must also use them for the purposes for which they were awarded and in accordance with the policies and guidelines of the program (see the Research Support Fund Financial Administration Guide) and their institution.
The steering committee reserves the right to terminate or suspend a grant should the recipient cease to meet the eligibility or reporting criteria. It also reserves the right to recover funds paid out after an institution no longer fulfills the required eligibility criteria, or on the basis of fraudulent or inaccurate information.