Section 15-8 - Funding Disbursement and Administration (a) Fund Disbursement. Funding shall be disbursed to the applicant only as needed to discharge obligations incurred in accordance with eligible project costs.
(b) Fund Reversion. - (i) If AML in consultation with the Director determines that the project has not been commenced within two (2) years from date of initial funding approval, the funding will automatically expire, unless otherwise specified. Based upon information supplied by the applicant, AML in consultation with the Director may grant an extension of time in which to commence the project.
- (ii) If AML in consultation with the Director determines that the project has not been completed within a reasonable time, AML and the Director shall notify the applicant in writing at least thirty (30) days prior to presenting the matter for Board review. The Board, upon review of the project circumstances, may recommend to the Governor termination or modification of the funding award.
- (iii) If based upon a review of current information in the files of the Office it appears that the project is complete and the full amount of the funds has not been expended, the unused portion of the funds shall revert to AML.
060-15 Wyo. Code R. § 15-8