Hi ausjpn.
I think where people get it wrong is in the wording(not understanding it)
Quarter 1 to Quarter 2 is announcing funding partners.
End of year is when the funds become available.
The projects could get started earlier (1st to 2nd quarter) if the funding parties guarantee the money will be paid.
I think that would be what is called a promissory note.
Regards
Westcott.
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