Expiring Funds

SPA contacts agencies paying by Letter of Credit (LOC) to obtain the deadline date of the final drawdown (money request) on each award. SPA works to ensure final billing has occurred before the end drawdown date lapses in order to collect on all allowable expenditures.

  • Some LOC award electronic systems provide SPA with the capability to view final draw dates
  • Agencies such as the National Science Foundation send automated emails to NMSU regarding expiring awards and their final draw date
  • If the amount reported in the electronic system is insufficient to cover the amount reflected in Banner, SPA will follow up on the discrepancy

RF-CM