22VAC30-60-440: Carry-over funds

Article 9

Carry-Over Balance Policies

Carry-over funds may represent obligated but unspent funds. For such funds to be available for expenditure in a subsequent fiscal year, the Virginia Department for Aging and Rehabilitative Services must reauthorize in the subsequent area plan such funds for an area agency to obligate and expend. An Area Agency on Aging shall request authority for such reauthorization of funds. In general, carry-over balances from Titles III-B, III-C(1), III-C(2), and III-D should not exceed 10% of the federal obligation for the new fiscal year, computed separately. This 10% carry-over policy does not apply to Virginia general fund moneys; all of general fund moneys must be spent by June 30 of the fiscal year in which they have been awarded. Approval for the use of such federal carry-over funds shall be granted by the Virginia Department for Aging and Rehabilitative Services only for specific uses and for a specified period of time.