49 CFR 29.409 – May a Tribe carry over from one fiscal year to the next any funds that remain at the end of the funding agreement?
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A Tribe may carry over from one fiscal year to the next any funds that remain at the end of the funding agreement, consistent with the following:
Terms Used In 49 CFR 29.409
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) The period of availability for formula funds included in a funding agreement does not lapse. After transfer to the Tribe, such funds will remain available until expended. If a Tribe elects to carry over funds from one fiscal year to the next, such carryover funds will not diminish the amount of formula funds the Tribe is authorized to receive under its funding agreement in that or any subsequent fiscal year.
(b) The period of availability for discretionary or competitive grants are specific to the funding source and will be set forth in the funding agreement.