GAPS Draw-Downs & Extension of Liquidation Periods April 2005 Lois Davis, Richard Smith, Joyce Campbell OVAE Lena Trujillo-Chavez, New Mexico Dept. of Ed.
OVAE REVIEW OF DRAW-DOWNS: • Consistent/Continual Basis • Approximately 25% Quarterly; 50% Semi-Annually, etc. • Serious Implications When Dollars are not Spent
EXTENDING LIQUIDATION PERIOD: • Send in request prior to expiration date of grant • Send request to OVAE liaison via email or other ways • Request must include: • Grant Number • Amount of additional time needed • Reason/Justification • Statement that no new costs will be incurred