Subject:

Lapsing Notice and Reminders

Guidance:

The Office of the State Comptroller (OSC) has completed recording all re-appropriations contained in the 2024-25 fiscal year enacted budget. All appropriations scheduled to lapse on September 13, 2024 should now contain the appropriate lapse date.

The Office of the State Comptroller (OSC) has updated the Guide to Financial Operations, Chapter XVII, Section 3 – Lapsing Transaction Deadlines for specific guidance on lapsing deadlines as they apply to specific transactions. All appropriations that no longer have spending authority must lapse in accordance with State Finance Law Section 40. It is recommended that all Agencies read Chapter XVII in its ENTIRETY, since it contains valuable reminders related to Lapsing. 

It is important for agencies to review appropriations scheduled to lapse on September 13, 2024 - utilizing the SFS report NYKK0004 as detailed in the Guide to Financial Operations, Chapter XVII, Section 2.A - NYKK0004 Appropriations Due To and Not Due To Lapse Report, and report any discrepancies to OSC as instructed.

Agencies should monitor the pending transactions for lapsing budgets utilizing SFS report NYAP1547 as detailed in the Guide to Financial Operations, Chapter XVII, Section 2.A - NYAP1547 Pending Transactions for Lapsing Budgets Report, and take appropriate action on each transaction included on the report.

Agencies are also encouraged to visit the Lapsing Information for State Agencies page at: http://www.osc.state.ny.us/agencies/lapsing/index.htm.