Federal Register / Vol. 66, No. 103 / Tuesday, May 29, 2001 / Rules and Regulations 29017

§ 119.15 If a grantee is unable to spend the

entire amount allotted for a single fiscal

year, can the funds be carried over to the

next year?

(a) The grantee may request approval

to use unexpended funds in the next

budget period. This is permissible if

funds are to be used for a non-severable,

non-recurring project or activity within

the scope of the PRIME program. Nonseverable means a project in its entirety

that cannot be subdivided. The request

for using unexpended funds in the next

budget period must include the

following:

(1) SF 424, budget pages, and

justification;

(2) Explanation of why the funds were

not expended during the period in

which they were awarded; and

(3) Evidence of match. The match

requirement for funds carried over to

the next budget period can be met by

using any excess of matching funds

from the current budget period, new

matching funds, or a combination of

both.

(b) The request must be made no later

than 60 days before the end of the

budget/project period or the deobligation process will begin. Approved

requests will require the issuance of a

revised Notice of Award. Expenditures

for funds carried over to the next budget

period must be tracked separately.

§ 119.16 What are the reporting, record

keeping, and related requirements for

grantees?

A grantee must keep records and meet

the other requirements of section 115 of

the Riegle Community Development and

Regulatory Improvement Act of 1994

(Riegle Act), as if it were a community

development financial institution. (See

12 U.S.C. 4714). In addition to meeting

requirements of the Riegle Act, a grantee

must also maintain data allowing it to

measure the impact of services provided

by it and any subgrantees, and, if

specifically required by the terms of the

PRIME grant, measure the success rate

of individual clients whom the grantees

assist. SBA will detail such

requirements in its Program

Announcements.

§ 119.17 What types of oversight will SBA

provide to grantees?

(a) In addition to reports required

under the Riegle Act, SBA will require

reports in accordance with applicable

OMB circulars. Such reports will

include the following information:

(1) For recipients of Technical

Assistance and Capacity Building

Grants, for the first two years of

receiving grant funding, narrative

performance reports and financial status

reports will be required quarterly within

15 calendar days of the end of each

quarter. Thereafter, grantees may

request that SBA reduce the frequency

of reports from quarterly to semiannually. The frequency of reporting

then will be determined at the

discretion of SBA. In addition, details of

expenditures will be required with each

request for payment. Grantees will be

required to submit audited financial

statements on an annual basis, if

available, or annual financial statements

prepared by a licensed, independent

public accountant, within 120 calendar

days of the end of the grantee’s fiscal

year.

(2) For recipients of Research and

Development Grants, reports will be

required in accordance with agreed

upon milestones and as part of the

disbursement process.

(3) For recipients of Discretionary

Grants, reports will be required as

appropriate for the project, or on a

schedule as described in paragraph(a)(1)

of this section, whichever is more

frequent.

(b) In addition, SBA may, from time

to time, make site visits to the grantee,

and review all applicable books and

records.

§ 119.18 What are the restrictions against

lobbying?

No assistance made available under

the PRIME program may be expended

by a grantee or subgrantee to pay any

person to influence, or attempt to

influence, any agency, elected official,

officer, or employee of a Federal, State,

or local government in connection with

its participation in the program.

§ 119.19 Is fundraising an allowable

expense under the PRIME program?

Expenditures of grant funds for

fundraising activities are not allowable

costs under this program. Applicants

must be able to raise matching funds

without the assistance of grant funds.

Unless the full requirement for

matching funds is waived, the applicant

must demonstrate that it has adequate

fundraising resources to obtain the

required non-Federal matching funds to

perform the project.

§ 119.20 Should grantees and subgrantees

raise conflict of interest matters with SBA?

Each grantee or subgrantee must

provide SBA with a copy of its conflicts

of interest policies prior to receipt of

funding under the program. Such

policies must clearly describe the

grantee’s or subgrantee’s protections

from conflicts of interest or the

appearance thereof in the handling of

grant funding and program provision

under this program.

Dated: May 21, 2001.

John Whitmore,

Acting Administrator.

[FR Doc. 01–13230 Filed 5–25–01; 8:45 am]

BILLING CODE 8025–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 2001–ASW–05]

Revision of Class E Airspace, Bay City,

TX

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Direct final rule; confirmation of

effective date.

SUMMARY: This document confirms the

effective date of a direct final rule which

revises the Class E Airspace, Bay City,

TX.

EFFECTIVE DATE: The direct final rule

published at 66 FR 16118 is effective

0901 UTC, July 12, 2001.

FOR FURTHER INFORMATION CONTACT:

Donald J. Day, Airspace Branch, Air

Traffic Division, Southwest Region,

Federal Aviation Administration, Fort

Worth, TX 76193–0520, telephone: 817–

222–5593.

SUPPLEMENTARY INFORMATION: The FAA

published this direct final rule with a

request for comments in the Federal

Register on March 23, 2001, (66 FR

16118). The FAA uses the direct final

rulemaking procedure for a

noncontroversial rule where the FAA

believes that there will be no adverse

public comment. This direct final rule

advised the public that no adverse

comments were anticipated, and that

unless a written adverse comment, or a

written notice of intent to submit such

an adverse comment, were received

within the comment period, the

regulation would become effective on

July 12, 2001. No adverse comments

were received, and, thus, this action

confirms that this direct final rule will

be effective on that date.

Issued in Fort Worth, TX on May 17, 2001.

Robert N. Stevens,

Acting Manager, Air Traffic Division,

Southwest Region.

[FR Doc. 01–13308 Filed 5–25–01; 8:45 am]

BILLING CODE 4910–13–M