New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 110 - LOCAL GOVERNMENT GRANTS
Part 6 - SCHOOL-TO-WORK OPPORTUNITY GRANT PROGRAM APPLICATION PROCEDURES
Section 2.110.6.17 - REVERSIONS, SUPPLEMENTAL FUNDING AND UNDERRUNS
Current through Register Vol. 35, No. 18, September 24, 2024
The council, division staff, applicants, and grantees will adhere to the following referenced guidelines:
A. Reversions/supplemental funding - When funds are reverted from a previously approved project grant, or additional funds are made available for any other reason, the council shall decide whether the funds will be set aside in a contingency fund, or shall take any other action it has deemed appropriate. The council's decision is final and unappealable.
B. Underruns - When a balance of funds remain after the completion of approved project activities and after all payments have been made, the funds will automatically revert to the council. The grantee may propose to expand approved activities or request council approval to expend underrun funds for other eligible activities. The council's approval or disapproval is final and unappealable.
C. Special applications - Should additional school-to-work funds become or be determined to be available, 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.