[Code of Federal Regulations]

[Title 45, Volume 4]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 45CFR1386.3]



[Page 340]

 

                        TITLE 45--PUBLIC WELFARE

 

CHAPTER XIII--OFFICE OF HUMAN DEVELOPMENT SERVICES, DEPARTMENT OF HEALTH 

                           AND HUMAN SERVICES

 

PART 1386_FORMULA GRANT PROGRAMS--Table of Contents

 

                      Subpart A_Basic Requirements

 

Sec. 1386.3  Liquidation of obligations.



    (a) All obligations incurred pursuant to a grant made under the Act 

for a specific Federal fiscal year, must be liquidated within two years 

of the close of the Federal fiscal year in which the grant was awarded.

    (b) The Commissioner may waive the requirements in paragraph (a) of 

this section when State law impedes implementation or the amount of 

obligated funds to be liquidated is in dispute.

    (c) Funds attributable to obligations which are not liquidated in 

accordance with the provisions of this section revert to the Federal 

Government.