Acq_4_life Posted April 28, 2011 Report Share Posted April 28, 2011 A time-and-material contract was awarded with a base period and four one-year option periods. The ceiling amount for the base period is $2M with a performance period ending April 29, 2011. The contractor?s invoices for effort performed in the base period totalled $1.9M, leaving an unexpended balance of $12K. The program office requested that the unexpended funds (Working Capital Funds) be carried over into the next performance period (Option 1). I understand that a working capital fund is a no-year fund and is available until expended; however, what are the required procedures for using unexpended funds? Please advise. Thanks. Link to comment Share on other sites More sharing options...
formerfed Posted April 28, 2011 Report Share Posted April 28, 2011 Assuming you don't have complicated behind the scene accounting issues, the simplest way is exercise Option 1 and state in the mod that" the full estimated value of the option is $2 million of which $1,988,000 is provided as funding by this mod and the remaining $12,000 is carried over as unexpended funds from the base period and made available for option 1". Link to comment Share on other sites More sharing options...
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