Ill. Admin. Code tit. 89, § 1110.170 - Lapsed Funds
a) Grant funds not
expended or legally obligated by the end of the Grant Agreement are considered
lapsed.
b) The Grantee shall
identify the amount of lapsed funds in the final report submitted to the
Administrator.
c) The Administrator
shall verify the amount of the lapsed funds and notify the Grantee in writing
of the amount of lapsed funds and the date by which the lapsed funds must be
returned, which shall be within 45 days following the end of the Grant
Agreement, as required by the Grant Funds Recovery Act [30 ILCS 705
].
d) If the Grantee fails to
timely return the lapsed funds, the Administrator shall institute proceedings
to recover the funds in accordance with the Grant Funds Recovery Act.
Notes
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