New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 110 - LOCAL GOVERNMENT GRANTS
Part 4 - LOCAL DWI GRANT AND DISTRIBUTION OF CERTAIN DWI GRANT PROGRAM FUNDS
Section 2.110.4.15 - REVERSIONS, SUPPLEMENTAL FUNDING AND UNDERRUNS

Universal Citation: 2 NM Admin Code 2.110.4.15

Current through Register Vol. 35, No. 18, September 24, 2024

A. Reversions/supplemental funding - When funds are reverted from a previously-approved grant program project or distribution program award, or additional funds are made available for council award for any other reason, the council may:

(1) set aside the funds in a contingency fund; or

(2) take other action as deemed appropriate.

B. Underruns - If, at the end of the fiscal year, a balance of funds remains after all expenditures have been reimbursed, the balance of funds for a grant or distribution program project shall revert to the fund. This underrun rule applies to multi-year grant programs in the last fiscal year of the council-approved program.

C. Special applications - Should additional funds become or be determined to be available in the fund, the council may call for and act on special applications from eligible applicants. The purpose and rating criteria of the special applications will be outlined in the call for applications.

Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.