§ 349.22. Use of surplus funds—approval.

 (a)  Disposition. Unless specific authorization to the contrary is granted by the Department, all unused contingency funds, interest earnings, and other construction fund accumulations must be used to reduce the amount of the bond issue or other payments against which the Commonwealth grants reimbursement.

 (b)  Exception. When a trust agreement so permits, the Department may, prior to final project audit, grant permission for the use of unexpended project contingency funds for items originally approved and bid but ultimately excluded because of expected insufficiency of funds.

 (c)  Compensatory adjustment. When a trust agreement so permits, the Department may, prior to final project audit, grant permission for the use of unexpended project funds for other lawful purposes. When such use is approved by the Department, it will apply a compensatory reimbursable percentage reduction.



No part of the information on this site may be reproduced for profit or sold for profit.

This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.