All AFG grantees must return any grant funds to FEMA (plus interest earned on federal funds) that were requested and deposited into the organization’s bank account but were not spent on the project.
Unspent grant funds can occur when:
- A grant payment was requested and deposited but a balance of grant funds remains in the organization’s bank account after all grant expenses have been paid; or
- A grant payment was requested and deposited but all grant funds were not spent before the end of the grantee’s Period of Performance.
- To return grant funds that remain in the organization’s bank account after all expenses have been paid, grantees must complete and submit the “Return of Funds to FEMA” form with a refund check.