SECTION 3.2507. Financial Status Reports

(a) Each grantee must submit financial status reports to PSO in the PSO-prescribed format no later than the designated deadlines for their submission.

(b) A financial status report reflecting cumulative expenditures from the start of the grant may be submitted as often as monthly but must be submitted at least quarterly. Grantees may only request an advance payment during the first month of the grant period to cover the first month's expenses.

(c) Grantees must ensure their final financial status report is submitted no later than the liquidation date or funds shall lapse and revert to the grantor agency. If grant funds are on hold for any reason, these funds shall lapse on the liquidation date and the grantee cannot recover them. The OOG shall not make payments to grantees that submit their final financial status report after the liquidation date.

Source Note: The provisions of this §3.2507 adopted to be effective February 24, 2000, 25 TexReg 1297; amended to be effective September 9, 2001, 26 TexReg 6645; amended to be effective December 16, 2002, 27 TexReg 11729; amended to be effective October 13, 2003, 28 TexReg 8873; amended to be effective June 9, 2004, 29 TexReg 5575; amended to be effective August 6, 2007, 32 TexReg 4747; amended to be effective June 21, 2009, 34 TexReg 3925; amended to be effective January 1, 2015, 39 TexReg 10393; amended to be effective April 27, 2021, 46 TexReg 2709