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1. CONTRACT ID CODE 2. AMENDMENT/MODIFICATION NO. 3. EFFECTIVE DATE 87 6. ISSUED BY 1 4. REQUISITION/PURCHASE REQ. NO. 06Jul2015 N00164 CODE PAGE OF PAGES U AMENDMENT OF SOLICITATION/MODIFICATION
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How to fill out lapsing funds:

01
Begin by gathering all necessary paperwork and information related to the funds that are set to lapse. This may include documentation of the specific funds, their designated purposes, and any rules or regulations governing their use.
02
Review the criteria for using the lapsing funds to ensure that you meet all requirements. Some funds may have restrictions on their use, such as being limited to specific projects or departments.
03
Determine the timeframe in which the lapsing funds must be spent. It is crucial to adhere to any deadlines to avoid losing the funds altogether.
04
Create a detailed plan for utilizing the lapsing funds. This could involve allocating the funds to specific projects, investing in equipment or resources, or supporting initiatives that align with the fund's purpose.
05
Consult with relevant stakeholders or decision-makers to gain their input and approval for the usage of lapsing funds. It is important to maintain transparency and adhere to any internal procedures or policies.
06
Keep track of all expenses related to the lapsing funds to ensure accountability and compliance with financial regulations. Maintain accurate records of how the funds were used and for what purposes.
07
Periodically review the progress of utilizing the lapsing funds and make adjustments if necessary. If unexpected challenges arise or opportunities for better utilization arise, be flexible in adjusting the plan accordingly.

Who needs lapsing funds:

01
Non-profit organizations that have received grants or donations with specific time limitations may require lapsing funds. These funds often come with specified purposes for which they can be used and must be utilized within a certain timeframe.
02
Government agencies or departments that have received budget allocations with time restrictions may also need lapsing funds. These funds are typically allocated for specific purposes and must be spent within a defined period.
03
Educational institutions, such as schools or universities, may require lapsing funds for various purposes like research projects, infrastructure development, or scholarships. These funds often have specific usage guidelines and expiration dates.
In conclusion, knowing how to fill out lapsing funds involves gathering the necessary documentation, reviewing criteria and deadlines, creating a detailed plan, consulting stakeholders, maintaining accurate records, and periodically reviewing progress. Lapsing funds are required by non-profit organizations, government agencies, and educational institutions to fulfill specific purposes within a given timeframe.

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