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Is it possible to request a no-cost extension at the end of the grant period if there are unexpended funds?

April 26, 2017extension funds no-cost period possible request unexpended

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Is it possible to request a no-cost extension at the end of the grant period if there are unexpended funds?

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No, by law all Federal agencies are required to cancel any remaining grant balances by September 30th of the 5th fiscal year after the award funds were issued. This means that after 5 years, any unspent grant money is by law returned to the Treasury and is no longer available for expenditure. Because the New Innovator awards are multi-year funded (all award funds are issued up front), the 5-year deadline coincides with the end of the project period, and therefore, no-cost extensions cannot be allowed.