The end of October marks the payment paperwork deadline for recurring FY2016 services. Applicants and service providers are reminded to submit their service provider invoices (“SPIs”) and billed entity applicant reimbursements (“BEARs”) as soon as possible to avoid missing this important deadline.
Funds For Learning estimates that the funds disbursed in FY2016 will total $2.54 billion. If this forecast holds true, it will be the second highest year on record. The current record holder is FY2015 which had $2.69 billion in total disbursements for schools and libraries.
Based on the amount of funds requested during the filing window last spring, Funds For Learning projects that FY2017 will have total disbursements of $2.10 billion, considerably lower than the prior two years.