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Funds must be obligated by the grantor agency within their period of availability. The period of availability of appropriated funds is the period of time provided by law in which the administering agency has to obligate the funds. B-271607, June 3, 1996. The statutory requirement for recording obligations extends to all actions necessary to constitute a valid obligation, and includes, of course, grant obligations (31 U.S.C. § 150l(a)(5)). [5]

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In practical terms, this means that FY2017 appropriated Resource Management funds are available for obligation on financial assistance awards until September 30, 2018. Any funds not obligated by this date expire. Also, any portion of those obligated funds are deobligated after midnight on September 30, 2018 expire. In both cases, expired Resource Management funds are lost to the program, though are recovered by FWS for future disbursement via the budget process. (EDITOR: Is this correct??)

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