FY19 Commitments Approach $1 Billion
As of June 20, 2019, the total amount of funds committed for funding year 2019 is $968 million. 18,778 of applicants have received funding decisions, while 2,795 are still waiting to learn the fate of their requests. As previously noted, decisions for funding year 2019 are lagging behind funding year 2018, but remain well ahead of funding years 2015, 2016 and 2017.
The pace of funding year 2019 funding commitments appears to have gained speed over the past three weeks. After a strong start, funding commitments slowed somewhat in May, but this appears to have changed in June. Unfortunately, it seems that the gap between years 2018 and 2019 will be persistent. This means that more applicants will be waiting longer this year for funding commitments than last year. It also means that USAC is unlikely to meet its September 1 deadline to finish review of all workable applications. The following chart illustrates the pace of the first fourteen funding waves in recent funding years.
Applicants who are waiting for a funding commitment decision letter are encouraged to closely monitor USAC’s EPC tool and reach out to the USAC customer service bureau for questions about the status of a funding request.