85.23—Period of availability of funds.

(a) General. Where a funding period is specified, a grantee may charge to the award only costs resulting from obligations of the funding period unless carryover of unobligated balances is permitted, in which case the carryover balances may be charged for costs resulting from obligations of the subsequent funding period.

(b) Liquidation of obligations. A grantee must liquidate all obligations incurred under the award not later than 90 days after the end of the funding period (or as specified in a program regulation) to coincide with the submission of the FFR. HUD may extend this deadline at the request of the grantee.

Code of Federal Regulations

[53 FR 8068, 8087, Mar. 11, 1988, as amended at 75 FR 41090, July 15, 2010]

CFR

85.23—Period of availability of funds.

Code of Federal Regulations