Many programs within the EGMS, particularly those using federal funds, allow for unexpended funds to be carried forward from one year to the next. To facilitate this process, EGMS needs confirmation from each subgrantee, for each program, that all Reimbursement Requests have been processed, and that OSSE should proceed with processing the unexpended funds.
OSSE Grant Managers will setup rules in the EGMS to define what should occur with unexpended funds at the time of closeout. For eligible Formula-based grants where carryover from FY15 into FY16 (for example) is allowed, those unexpended funds will be transferred forward into FY16, where an open budget can be amended to incorporate those funds. For programs that do not allow carryover, unexpended funds are released back to OSSE. Some Competitive-based grants are eligible for Carryover also. Where such competitive carryover is allowed, the funds will be loaded by OSSE into the Continuation grant for the same program in the subsequent year. These Continuation grants are necessary to prevent the need to score applications beyond the initial competitive year of a cohort. Any carryover funds remaining at the end of a Continuation grant program that is eligible for carryover will be transferred forward to the next year of that same Continuation program (the same as with a Formula-based grant).
Title I-A has specific processing rules, whereby no more than 15% of the Current Year allocation can be carried forward into the next year, unless OSSE has granted a waiver to allow this limit to be exceeded. Carryover calculations are based on the entire project amount. They do not drill down to levels such as Setasides, specific Budget Categories (e.g. only carrying over salaries but not equipment, nor do they calculate at a Building level (for programs that use Site-based budgeting).
This document illustrates the steps each subgrantee must perform to closeout a project, while also describing the rules that govern the closeout process.