La. Admin. Code tit. 70 § I-101
Current through Register Vol. 50, No. 9, September 20, 2024
Section I-101 - Phased FundingA. The department is authorized to utilize cash management on multi-fiscal year projects which exceed the contract limit established in R.S. 48:251. The department is authorized to allocate only sufficient appropriated funds in any fiscal year to pay for anticipated actual contract obligations incurred in that fiscal year. A multi-fiscal year phased funding plan will be developed for each project approved by the secretary for phased funding. The phased funding plan will provide annual anticipated expenditure projections over the life of the project.La. Admin. Code tit. 70, § I-101
Promulgated by the Department of Transportation and Development, Office of the General Counsel, LR 24:1324 (July 1998), amended by the Department of Transportation and Development, Office of the Secretary, LR 29:192 (February 2003).AUTHORITY NOTE: Promulgated in accordance with R.S. 48:251.D.