OMB circular A-133-Period of Availability

Federal awards may specify a time period during which the non-federal entity may use the federal funds. When a time period is specified the agreement will show the start and end date for the time period.

Where a funding period is specified, a non-federal entity may charge to the award only costs resulting from obligations incurred during the funding period and any pre-award costs authorized by the federal-awarding agency. Also, if authorized by the federal program, unobligated balances may be carried over and charged for obligations of the subsequent funding period.

To carry over balances to a subsequent funding period, the recipient must identify the amount, submit a request to the federal-awarding agency, and receive approval. Once approved, the carried-over balances will be added to the award of the subsequent funding period.

Obligations mean the amounts of orders placed, contracts and subgrants awarded, goods and services received, and similar transactions during a given period that will require payment by the non-federal entity during the same or a future period.

Non-federal entities subject to the A-102 Common Rule shall liquidate all obligations incurred under the award not later than 90 days after the end of the funding period (or as specified in a program regulation) to coincide with the submission of the annual Financial Status report (SF 269). Liquidating the obligations is accomplished by paying for the orders, contracts, subawards, goods, and services. The federal agency may extend this deadline upon request.