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What does the term carry-over mean?

April 26, 2017carry-over mean term

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What does the term carry-over mean?

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If grant funds are not obligated by the LEA by the end of the project period for which funds were awarded, the LEA may apply to the NJDOE to expend these funds in the next project period. Funds expended in the next project period are called “carry-over” funds. Carry-over funds are subject to the individual program regulations and guidelines that are in effect during the carry-over period.