Can I spend funds after the grant cycle is over?

All funds must be expended and/or obligated by the end of the award period. On occasion, sub- grantees may incur obligations or encumber funds toward the end of a subaward period for which payment cannot be made until after the subaward period has ended. In such cases, sub- grantees should only report the actual expenditures paid during the reporting period. Obligations made prior to the end of the subaward period, but not yet paid, can be reported on the detail of expenditures (financial report). Agencies will then have an additional 45 days to pay those obligations and report the expenditure on the final financial report.