- (a) The Oversight Committee may approve Grant Award funds for a multiyear project. The total amount of Grant Award funds for the project shall be specified at the time that the Grant Award recommendation is approved by the Oversight Committee.
- (b) The Grant Contract shall include an Approved Budget that reflects the amount of the Grant Award funds to be spent for each Project Year.
- (c) The Institute shall distribute Grant Award funds to reimburse Allowable costs as reflected in the Approved Budget and pursuant to the Grant Recipient's submission of the quarterly Financial Status Report or the request to advance Grant Award funds. Remaining Grant Award funds shall be distributed as needed in each subsequent Project Year of the Grant Contract.
- (d) A Grant Recipient awarded a Grant Award for a multiyear project that fails to expend the total Project Year budget may carry forward the unexpended budget balance to the next Project Year. If the amount of the unexpended budget balance to carry forward exceeds ten percent (10%) of the total Grant Award amount, the Grant Recipient must provide specific justification for why the total Grant Award amount should not be reduced by the unexpended balance.
Source Note:The provisions of this §703.15 adopted to be effective December 21, 2009, 34 TexReg 9213; amended to be effective March 2, 2014, 39 TexReg 1386.